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

A chief financial officer's workday is booked solid dealing with regulatory issues, risk assessments and finding places to cut costs. If they could find an extra hour, bank CFOs say they would use that time to consider how to improve their banks' strategies, employees and communities.

If banking is under attack, then chief financial officers are the defenders of the realm. Equipped with the numbers, they are uniquely positioned to bring the credible answers their stakeholders seek and the changes their companies need.

Our new special reports and proprietary research profile the key executives flanking the CEOs at financial institutions and explore how their roles have evolved. First up: the chief financial officer.

In March, American Banker Research conducted an in-depth online survey of 52 bank chief financial officers from American Banker's readership as part of our inaugural C-Suite Series. The respondents were from banks with less than $10 billion in assets, with vast majority coming from banks with $100 million to $1 billion in assets. They were asked how they spend their time, where they would like to take their careers and how they are handling the unprecedented challenges of today's banking environment. Among the insights revealed from the survey: Basel III hasn't been a big deal for the top line — yet; few CFOs are focused on mergers and acquisitions; and many of them consider their roles strategic. Highlights from the research follow.

As more community banks switch to a universal banker model, they are also finding that it can take a year — or more — to properly train those employees.

First BanCorp in San Juan, Puerto Rico, has been released from a consent order with the Federal Deposit Insurance Corp.

The Costco cobrand card was a huge win for Visa, but nevertheless the card network's chief executive, Charlie Scharf, found himself defending the terms of the partnership.

Simmons First National in Pine Bluff, Ark., has agreed to buy Ozark Trust and Investment Corp. in Springfield, Mo.

Hudson City Bancorp in Paramus, N.J., reported a staggering plunge in earnings after an unexpected delay of its sale to M&T Bank.

The decision to promote David Casper, BMO Harris' head of commercial lending, should show that the Chicago bank is ready to push back against aggressive competitors in the Midwest

HarborOne Bank announced Wednesday that it will acquire Merrimack Mortgage Co. Terms of the transaction are undisclosed.

The Los Angeles bank, which is in the process of being sold, vows to fight a Labor Department complaint that it overcharged employees for administering their retirement plan.

Royal Bancshares in Narberth, Pa., could have taken large writedowns and burned through capital to erase millions of dollars in bad assets. But management decided to hold onto those assets as it slowly ran off loans in a pair of shuttered business lines.

The unit, which lends to private equity-backed companies and includes GE Antares, has long been a major force in the middle market.

Pinnacle Financial Partners in Nashville, Tenn., has agreed to buy Magna Bank in Memphis, Tenn.

United Bankshares in Charleston, W.Va., reported higher profit more than a year after announcing a key acquisition.

At Citigroup and Wells Fargo, shareholder proposals to disclose more about lobbying garnered double-digit percentages of the vote. PNC basked in environmentalists' admiration — after agreeing to leave business on the table.

Bank branches are continuing to lose their luster as consumers rely on online and mobile channels, according to a new report.

Merchants Bancshares in South Burlington, Vt., has agreed to buy NUVO Bank & Trust in Springfield, Mass.