The Office of the Comptroller of the Currency closed Lydian Private Bank in Palm Beach, Fla., on Friday. The $1.7 billion-asset bank is the 10th bank to fail in Florida this year.

To survive, capital-starved Community Banks of Colorado has struck a deal to sell 16 branches as well as its name.

Royal Bank of Canada in Toronto said Friday that it expects to take a $1.6 billion loss in the third quarter relating to the pending sale of its U.S. banking operations.

Bank of America Corp. is cutting 3,500 jobs in the current quarter and is working on a broader restructuring that could eliminate thousands of additional positions, people familiar with the situation said.

In a rare Thursday failure, regulators shut a small Pennsylvania bank that serves the Orthodox Jewish community.

Traditionally, objections to a merger deal are primarily fought over Community Reinvestment Act and consumer protection concerns. But the Massachusetts Democrat raised a new concern by citing fears on the size of the combined bank.

Former top executives at LaSalle Bank are looking to start a bank that would acquire the assets and deposits of failed banks in and around Chicago.

U.S. Representative Barney Frank, the senior Democrat on the House Financial Services Committee, asked the Federal Reserve to extend its examination of Capital One Financial Corp.'s acquisition of ING Direct USA.

U.K. banks are taking stock of troubled companies they took over when private-equity owners were unable to meet debt repayments on large loan packages taken out to finance leveraged buyouts during the boom.

Ladenburg Thalmann Financial Services Inc., the Miami-based investment bank and brokerage, said Wednesday that it has agreed to buy Securities America Inc. from Ameriprise Financial Inc. for at least $150 million to add 1,700 financial advisors.

MidSouth Bancorp Inc. in Lafayette, La., has agreed to buy a branch in Tyler, Texas, from Beacon Federal Bancorp Inc.

Issuers of retail credit cards sought to exit the business en masse during the downturn. Now the industry's appeal is on the rise, along with a dramatic improvement in its performance.

Target's credit card unit earned $171 million for its second quarter ended July 30, benefiting from sharply lower losses on its cards after the financial crisis.

Investors Bancorp doesn't plan to stop with its deal for Brooklyn Federal. The Short Hills, N.J., mutual thrift would like to do "one or two more" before converting to an all-stock company.

Capitol Bancorp Ltd. is getting closer to exiting Colorado with an agreement to sell Mountain View Bank of Commerce.

First Financial Bancorp in Cincinnati has found a way to put some of its capital to work: a big branch deal with Flagstar Bancorp Inc.

Deals will stall in the short term as volatility complicates stock-related transactions and creates uncertainty. But a low-rate environment will crimp growth and ultimately drive consolidation.

Profits at State Bank Financial in Atlanta said its second-quarter profit fell 10% from the same period last year as gains in interest income were offset by higher expenses and an increase in its loan-loss provision.

Mercantile Bancorp once believed that its bank in sleepy Quincy, Ill. was not enough. Now, that bank might hold the key to the company's survival.

TD's $7.6 billion deal for a B of A MasterCard portfolio underscored again how banks north of the border are profiting at the expense of their U.S. rivals.