Boston Private Financial Holdings (BPFH) has agreed to buy Banyan Partners, an investment advisory firm in Palm Beach Gardens, Fla.

Smaller banks are disproportionately affected by regulation, forcing some to consider selling or to rethink their strategy, two community bankers argued before Congress.

The industry is slowly turning to valuations based on earnings rather than tangible book value, raising concerns that banks might feel pressure to make short-term decisions and ill-fated acquisitions.

The Virginia and West Virginia bankers associations have intensified merger discussions and could combine into a single trade group by year's end, according to a report Tuesday from Richmond BizSense.

Washington Federal (WAFD) in Seattle reported increased quarterly earnings after buying dozens of branches from Bank of America (BAC).

Independent Bank in McKinney, Texas, is planning to raise capital by issuing debt.

Shares of Bank of the Ozarks (OZRK) rose in early trading Tuesday after the Little Rock, Ark., company reported a 30% increase in its second-quarter profit.

Commerce Bancshares (CBSH) in Kansas City, Mo., reported higher quarterly earnings because of a slight increase in revenue.

The Consumer Financial Protection Bureau has squelched a plan to require banks to sign a contract that would have given the agency ownership of the content of consumers' complaints that it receives online.

TowneBank (TOWN) in Suffolk, Va., has agreed to buy Franklin Financial (FRNK) in Richmond, Va.

Wintrust Financial (WTFC) in Rosemont, Ill., reported higher quarterly earnings as income from loan growth offset lower fee revenue.

Ocwen Financial (OCN) has repurchased approximately $72.3 million in stock from WL Ross & Co., a private-equity firm in New York.

A breakdown of M&A announcements in the financial services industry for the week ended July 12.

Doral Financial (DRL) in San Juan, Puerto Rico, has agreed to sell roughly $825 million of assets to Abbey Finance Holdings PR.

First Bancshares (FBMS) in Hattiesburg, Miss., has redeemed preferred stock BCB Holding in Mobile, Ala., issued to the Treasury Department under the Troubled Asset Relief Program.

Toronto-Dominion Bank, Royal Bank of Canada and Bank of Nova Scotia have bolstered assets more than fivefold in the past two decades, as the country's three biggest lenders distance themselves from their smaller peers.

Northwest Bank in Boise, Idaho, has agreed to buy Regal Financial Bank in Seattle.

Hanmi Financial (HAFC) in Los Angeles has sold two insurance businesses Chunha Holding in Garden Grove, Calif.

Dozens of insurers have sold off their banks in recent years, with just a handful choosing to remain in the business. Mutual of Omaha Bank is committed to building a traditional community banking culture with its parent company's backing.

C1 Financial in St. Petersburg, Fla., is going public.