SouthCrest Financial Group (SCSG) in Peachtree City, Ga., has received regulatory approval to merge its four banks into a single charter operating under the name SouthCrest Bank.

Union First Market Bankshares (UBSH) in Richmond, Va., has taken a stake in a local payments firm.

U.S. Bancorp (USB) in Minneapolis has agreed to buy the Chicago branches of RBS Citizens Financial Group, a deal that would double its deposit share in the Windy City.

Community Bank in Pasadena, Calif., has hired a chief executive.

The vice chairman of M&T Bank (MTB) has resigned, spurring the Buffalo company to expand the roles of a handful of top executives.

Square 1 Financial in Durham, N.C., is planning an initial public offering.

The Minneapolis company has inked a deal to buy 105 Chicago-area branches of Citizens Financial Group, the U.S. bank owned by Royal Bank of Scotland Group PLC, Crain's Chicago Business reported Monday.

Cincinnati's First Financial Bancorp amassed a lot of capital thanks to failed-bank deals but took its time deciding what to do with it. Its three recent expansion moves put it in the company of other failed-bank buyers that are shifting to open-bank M&A.

A breakdown of M&A announcements in the financial services industry for the week ended Jan. 4

Activist investor PL Capital has taken a $3.5 million stake in Old Point Financial (OPOF) in Hampton, Va.

After Decatur First Bank failed, Judy Turner could have been blacklisted from banking. But she was hired by another bank looking to enter a new market -- and she is making a solid comeback.

First Financial Bancorp (FFBC) in Cincinnati is entering the Fort Wayne, Ind., market with the establishment of commercial and residential mortgage teams there.

An annual survey from the American Hospital Association reveals that U.S. community hospitals posted $45.9 billion in uncompensated care in 2012, representing 6.1 percent of total hospital expenses.

The second half of December is generally a slow period for news, with many people on vacation and businesses and government closed on holidays. Still, banks made a number of significant announcements this holiday season. In many cases the timing of disclosures may have been driven by circumstance - regulators appeared eager to wrap up settlements by yearend.

The $2 billion-asset company is moving the headquarters of its mortgage banking and wealth management businesses to the Greater Richmond area, according to a Friday press release.

CNB Financial (CCNE) in Clearfield, Pa., plans to sell up to $75 million in preferred and common stock.

Investors Bancorp (ISBC) in Short Hills, N.J., is set to complete its purchase of Gateway Community Financial in Sewell, N.J., next week.

J. Thomas May still believes community banks can thrive but executives must find new ways to engage customers, control costs and build scale.

Square 1 Bank in Durham, N.C., has bought Sand Hill Finance, a finance company based in the Silicon Valley.

Fred Joseph retired from overseeing banks and securities firms last month. In a wide-ranging interview, he reflected on his career and provided perspective on the future of the banking industry.