Four Oaks Fincorp in Four Oaks, N.C., has raised $24 million through a rights offering.

An investor has filed a lawsuit to block the merger deal between the two First Citizens banks in the Carolinas, which are controlled by the Holding family. The case could turn on whether the directors on the special committees that reviewed the deal were truly independent of the Holdings.

The Providence, R.I., company is set to be spun off from its foreign parent, and executives are embracing the opportunity to simplify their products, expand lending and overhaul their customer experience.

Costs associated with its recent acquisition pushed Cascade Bancorp, in Bend, Ore., into the red in the second quarter.

Sun Bancorp in Mount Laurel, N.J., plans to raise approximately $20 million to fund its recent restructuring.

Beneficial Mutual Bancorp in Philadelphia, which dates back to 1853, is the latest old-school mutual thrift to announce plans for a second-step conversion to a fully public stockholder company.

C1 Financial, a $1.4 billion-asset company in St. Petersburg, Fla., raised $45 million today from its initial public offering.

Clayton Deutsch has spent the last several years streamlining Boston Private's past acquisitions in an effort to improve the company's profitability. With most of the cuts in place, the company is now eyeing acquisitions like the one it announced last month for Banyan Partners, a Florida investment adviser.

CenterState Banks in Davenport, Fla., plans to close additional branches from a recent acquisition.

First Citizens BancShares in Raleigh, N.C., has appointed Blake Coules chief risk officer.

Investment banker Jason R. Hach has joined Sandler O’Neill following four years at its archrival Keefe, Bruyette & Woods.

The bank M&A world can be challenging for private-equity vehicles because they trade lower than some of the more aggressive traditional buyers. Talmer Bancorp in Troy, Mich., announced a cash deal last week that pushed its stock up more than 5%, perhaps helping its hand in future stock deals.

Centrue Financial in Ottawa, Ill., said Monday that it has agreed to sell $75 million of its common stock to the New York private-equity group Capital Z Partners.

Higher capital requirements, sluggish GDP growth and antiquated cost structures are stymying banks’ efforts to boost returns to investors. This will likely lead to a boom in mergers and acquisitions over the next decade, writes Richard J. Parsons.

Wells Fargo & Co. is marketing two pools of troubled mortgage debt estimated at $1.3 billion, including mostly reperforming loans as well as nonperforming loans, according to two people with knowledge of the offering.

JPMorgan Chase, which last year said its private-equity unit would become independent, agreed to sell half of its $4.5 billion in buyout holdings to Carlyle Group LP’s AlpInvest Partners BV and Lexington Partners Inc.

Two Midwestern banking companies, First Midwest Bancorp in Illinois and First Federal of Northern Michigan Bancorp, have completed previously announced acquisitions.

Old National Bancorp in Evansville, Ind., is selling $150 million of unsecured senior notes to fund the cash portion of pending deals and to possibly support future acquisitions.

Warehouse financing is back, and it's one of the drivers of the resurgence in collateralized loan obligations. Banks are more willing to provide it, but nonbanks are bigger players, too.

A breakdown of M&A announcements in the financial services industry for the week ended Aug. 9.