The rising costs of regulatory compliance, health insurance and technology prompted Mountain Valley Bank to merge with a company that once was its biggest investor.

Federal banking regulators have signed off on Umpqua Holdings' (UMPQ) agreement to buy Sterling Financial (STSA).

Opus Bank in Irvine, Calif., has launched an initial public offering that could yield as much as $223 million for the company and its shareholders.

BancorpSouth, an active M&A player in the Gulf Coast region, is losing four directors, including longtime Chairman Aubrey Patterson, while adding two others.

AnchorBank in Madison, Wis., has been released from two enforcement actions from the Office of the Comptroller of the Currency.

Banco Santander SA (SAN), Spain's biggest bank, bought the private banking unit of BNP Paribas SA (BNP) in Miami to help to win more business from wealthy Latin American clients, two people with knowledge of the matter said.

First Tennessee Bank, a unit of First Horizon National (FHN), is opening its first branch in Texas.

Blythe Masters, who rose from an intern at JPMorgan Chase & Co. to global head of a commodities powerhouse, is exiting after 27 years as the bank completes the sale of businesses she oversaw.

Royal Bank of Scotland says it still plans to sell part of its interest in RBS Citizens later this year. American Banker examines various outcomes for the U.S. bank, ranging from an IPO to an outright sale.

Distressed-bank rollups were all the rage among private-equity and hedge fund investors in the early days of the financial crisis. The results have been decidedly mixed, as the following examples illustrate.

Alamogordo Financial Corp. (ALMG) in Alamogordo, N.M., has agreed to pay more money to purchase Bank 1440 (BFFO) in Phoenix.

Hilltop Holdings (HTH) in Dallas has finally reached an agreement to buy the remaining shares in SWS Group (SWS) that it does not already own.

The Los Angeles companies said Tuesday that the Federal Reserve Board has approved the $2.3 billion deal.

Charles M. Williams, co-chief executive of CertusBank, has quit the Greenville, S.C., company amid allegations of gross mismanagement.

Hancock Holding (HBHC) in Gulfport, Miss., has agreed to sell its property and casualty and group benefits lines of business to AssuredPartners in Lake Mary, Fla.

First Federal and Bay View are combining similar sized institutions that have complementary infrastructure, earnings and products. Though small, the deal could serve as a model for mutuals interested in keeping their charter and culture.

A unit of SunTrust (STI) in Atlanta has acquired an advisory firm that targets the oil and gas industry.

NewBridge Bancorp (NBBC) in Greensboro, N.C., has completed its redemption of preferred stock tied to the Troubled Asset Relief Program.

Bankwell Financial Group (BWFG) in New Canaan, Conn., has agreed to buy Quinnipiac Bank & Trust in Hamden, Conn.

Peoples Financial Services in Scranton, Pa., will begin trading on the Nasdaq on April 2.