Royal Financial in Chicago has agreed to buy Park Bancorp in Chicago.

Goldman Sachs Group Inc. said it agreed to settle a U.S. probe into its handling of mortgage-backed securities for about $5.1 billion, cutting fourth-quarter profit by about $1.5 billion and closing out a year of record legal and litigation costs.

The $22 billion-asset Winstrust said in a press release Thursday that it will pay $30 million in cash for the parent of the $125 million-asset Foundations Bank.

Peter Humphrey, who stepped down as Financial Institutions’ CEO in 2012, said he supports a push by activist investor Clover Partners to force the company to find a buyer. Humphrey left the company’s board in 2014.

Four Oaks Fincorp in Four Oaks, N.C., has refinanced $11.5 million in subordinated debt.

The physical branch network is not dead, but to ensure its viability banks need to get serious about trimming it down and combining branches with digital channels.

BOK Financial in Tulsa, Okla., has acquired E-Spectrum Advisors, a Dallas investment bank that focuses on the energy sector.

BankUnited of Miami Lakes, Fla., has exited the retail mortgage origination channel. It originated loans through its retail banking branches in Florida and New York.

The conventional wisdom is that MetLife is breaking itself up partly as a response to its designation as a systemically important company. But there is significant evidence that's wrong — here's why.

Independent mortgage lenders are expecting a wave of consolidation prompted by excessive compliance costs, a tepid housing recovery and the need for more capital to grow their businesses. Roughly 20% to 25% of independent companies could be eliminated or change hands in less than two years.

The opportunity for banks from the dramatic growth in deposits goes beyond just funding loans.

Having shored up capital following the financial crisis, many banks are flush with cash and in search of ways to put it to use. One option for banks that did sale-leasebacks in the past is to reacquire their branches.

MetLife plans to separate much of its U.S. retail business as Chief Executive Officer Steve Kandarian works to shrink the company to limit federal oversight.

Chris Bauer, who navigated Anchor BanCorp through bankruptcy and an IPO, will stay with Old National in an unspecified role. Old National, meanwhile, has added Wisconsin to the list of states where it is looking for acquisitions.

Bridgewater Bank in Bloomington, Minn., has agreed to buy First National Bank of the Lakes in Orono, Minn.

Old National Bancorp in Evansville, Ind., has agreed to buy Anchor BanCorp Wisconsin in Madison.

Raising capital has been tough for community banks ever since the financial crisis, especially the smallest ones. But a few firms have developed structured products that offer banks a chance to band together to raise needed Tier 1 capital at relatively low cost, while avoiding the regulatory ire that befell trust-preferred securities.

Old Fort Banking in Tiffin, Ohio, has sold a controlling interest to its employees. The Old Fort Employees Stock Ownership and 401(k) plan bought a 45% stake in Gillmor Financial Services, the holding company for the $471 million-asset Old Fort.

Eagle Bancorp in Bethesda, Md., has hired four bankers to a develop a business line making Federal Housing Administration-insured loans for multifamily rental properties.

Opus Bank in Irvine, Calif., will cut about 10% of its workforce and cancel contracts for redundant systems and services.