The $1 billion-asset Pacific Mercantile said Tuesday that it would sell $2.2 million shares of common stock to private equity firm Carpenter Funds for roughly $14.8 million.

SI Financial Group (SIFF) in Willimantic, Conn., will buy Newport Bancorp (NFSB) in Rhode Island for roughly $61.3 million.

CEO Michael Corbat said Tuesday that the company's future lies in certain key emerging markets, but he also suggested that Citi could pull out of other countries that are dragging down its profits.

There's still a wide disparity between what buyers are willing to pay and what sellers are willing to accept, and the U.S. Bancorp CEO does not see that gap closing any time soon.

A Pennsylvania transportation agency has added new accusations to the securities lawsuit it filed against the $1.2 billion-asset Orrstown Financial Services (ORRF).

It could take another two years for Renasant to get close to its investor returns from before the crisis, and that's OK, CEO Robin McGraw says.

HSBC Holdings Plc plans to sell two portfolios of consumer loans in the U.S. for $3.2 billion in cash as part of a strategy to trim its U.S. operations.

Ray Grace, the acting banking commissioner of North Carolina, used humor to deflect some tough questions aimed at regulators about limits on bank startups.

HSBC agreed to sell a portfolio of U.S. consumer loans for $3.2 billion as it scales back its operations in the country.

Atlantic Coast Financial trimmed its losses last quarter as it readies for possible challenges to its deal with Bond Street Holdings.

Pacific Premier (PPBI) in Irvine, Calif., has named new chief lending and operating officers among several executive moves.

Community & Southern Bank in Atlanta has hired its new president away from a larger Alabama lender.

Bonds are poised to widen their advantage in yield over leveraged loans again after three years of narrowing. Higher demand for leveraged loans and interest-rate concerns are major reasons.

Tampa-based Gries Investment Funds has moved a step closer to completing its first bank acquisition.

A breakdown of M&A announcements in the financial services industry for the week ended March 2.

1st Capital Bank (FISB) in Monterey, Calif., has erased the "interim" from its chief executive's title.

The Justice Department is investigating a recently acquired unit of Ocwen Financial (OCN), the company announced Friday.

Delinquencies on loans that back commercial mortgage securities fell for the second consecutive month in February, to their lowest level in a year, according to a report published Monday.

Banks are moving both residential and commercial loans off their balance sheets at a faster pace and at higher prices than at any time since the beginning of the financial crisis.

Fifth Third Bancorp (FITB) is expanding its capacity to take on debt and has wrapped up a $100 million stock buyback.