The Floyd, Va., company posted a big loss after purging its balance sheet and absorbing costs of a May proxy battle. The fight, led by Douglas Schaller, brought in three new directors and the accelerated departure of Cardinal's longtime CEO.

Home BancShares, in Conway, Ark., has agreed to pay $1.4 million for Premier Bank in Tallahassee, Fla. Premier's parent is in bankruptcy proceedings, which could spur rival bids for Premier.

Pittsfield Township in southeastern Michigan has hired a collection agency to pursue fees resulting from accident responses on local highways.

Debt buyer Encore Capital Group, based in San Diego, announced Tuesday that Michael Haubenstock has joined the company as vice president and chief risk officer.

BBX Capital (BBX) posted a second-quarter net loss of $12.3 million for its last reporting period with BankAtlantic.

Mackinac Financial (MFNC) in Manistique, Mich., has raised roughly $11.6 million through a rights offering and the sale of common stock to an investor.

Lawmakers have set $10 billion in assets as a dividing line between small and large banks for regulatory purposes. That's left bankers at Trustmark's Gerard Host and other institutions that are approaching the cutoff with a choice: Deliberately limit their size or pursue acquisitions to solidly cross the threshold.

Four years after filing the largest bankruptcy in U.S. history amid soured real estate bets, Lehman Brothers is still in the property business, wagering it can recover about $12.9 billion from mortgages and assets around the globe.

Six North Carolina businessmen and banking veterans made up the group that raised $13 million to buy First Carolina State Bank in Rocky Mount, N.C., from Capitol Bancorp (CRBC).

In its ongoing effort to distinguish itself as a specialty lender, the Jacksonville, Fla., company announced Monday that it has established a golf lending division and that it has hired a team of lenders away from TCF Financial (TCB) to run it.

PSC Info Group, a technology services provider for collections, has been acquired and will be combined with data services firm Dantom Systems to form a new company.

General Motors Co. (GM), the largest U.S. automaker, said its lending arm made a bid in July for Ally Financial Inc. (ALLY)'s international operations, which, if successful, could more than double GM Financial Co.'s consolidated assets.

A breakdown of M&A announcements for the week ended August 11.