BancorpSouth (BXS) in Tupelo, Miss., reported higher quarterly profit fueled by acquisitions and improved operating performance.

Heritage Financial (HBOS) in Albany, Ga., has agreed to buy Alarion Financial Services in Ocala, Fla.

Community Bank Shares of Indiana (CBIN) in New Albany has agreed to buy First Financial Service (FFKY) in Elizabethtown, Ky.

Peoples Bancorp (PEBO) in Marietta, Ohio, has agreed to buy North Akron Savings Bank in Ohio. Peoples said in a press release Monday that it will pay about $20.1 million in cash and stock for the $147 million-asset North Akron Savings.

Umpqua Holdings (UMPQ) in Portland, Ore., reported a steep dip in quarterly profits because of merger-related expenses and lower mortgage banking revenue.

First Defiance Financial (FDEF) in Defiance, Ohio, isn't going to buy First Community Bank in Columbus, Ohio, after all.

A breakdown of M&A announcements in the financial services industry for the week ended April 19.

The Portland, Ore., company aquired Sterling Financial last week. Though it created a $22 billion-asset regional player in the Pacific Northwest, CEO Ray Davis says the bank can keep its identify as a community bank.

Investors Bancorp (ISBC) in Short Hills, N.J., announced Monday that it is selling an undisclosed number of shares to the investment banks that managed its recent stock sale.

Washington Trust Bancorp (WASH) in Westerly, R.I., reported a rise in quarterly profit after it sold its merchant-processing business.

First Security in Owensboro, Ky., has raised $30 million through a private placement. The $500 million-asset company said it would use the funds for organic growth and "acquisitive opportunities."

Home BancShares in Conway, Ark., has agreed to buy Florida Traditions Bank in Dade City, Fla. The $6.8 billion-asset Home said it will pay $43 million stock for the $312 million-asset Florida Traditions.

RKJS Bank, an interim company formed by a group of local Baltimore investors, won First Mariner's bankruptcy auction Tuesday after National Penn Bancshares (NPBC) in Allentown, Pa., withdrew its offer.

Investors Bancorp (ISBC) in Short Hills, N.J. reported a surge in quarterly profit because of a stronger balance sheet.

Associated Banc-Corp (ASBC) in Green Bay, Wisc., reported a profit of $44 million in the first quarter, down 4.6% from the same period last year, as fee income fell and credit costs increased.

Board members and prospects are nervous about personable liability, given a rise in government lawsuits against former directors of failed banks. While banks typically carry insurance for directors, it is unclear how much protection those policies provide.

National Penn Bancshares (NPBC) in Allentown, Pa., swung to a profit in the first quarter thanks to commercial loan growth and one-time factors that offset lower mortgage banking revenue.

MasterCard has entered an agreement to buy Pinpoint Pty. Ltd., a Sydney, Australia-based provider of loyalty and rewards services in the Asia Pacific region.

Consumers can now use Lending Club to pay for schooling or elective medical procedures.

First Horizon National (FHN) used a gain from the sale of mortgage servicing rights to offset declines in revenue and fee income.