Hanmi announced late Tuesday that Chong Guk Kum would replace Jay S. Yoo as president of the holding company and its $2.8 billion-asset bank.

The famously outspoken CEO of JPMorgan Chase has kept relatively quiet during the last few months of shareholder pressure and regulatory scrutiny. On Tuesday, he tried to make up for lost time.

Banks and others that make "debtor-in-possession" loans to teetering companies hurt the commercial bankruptcy system by forcing unnecessary liquidations and untimely asset sales, critics say.

Banks that still hold Tarp funds face the prospect of dividend rates rising to 9% from 5% at a time when many of those institutions are still struggling.

Urban Partnership Bank in Chicago has been designated a minority depositary institution by the Federal Deposit Insurance Corp.

The proposed sale of Atlantic Coast Financial in Jacksonville, Fla., did not sail with investors. Shareholders rejected Bond Street Holdings' $13.1 million, or $5-per-share, offer on Tuesday.

Green Dot (GDOT) has agreed to acquire the Wal-Mart-branded prepaid card business from GE Capital Retail Bank.

C&F Financial (CFFI) has agreed to acquire Central Virginia Bankshares. Both are in the Richmond, Va., area.

The Treasury Department has begun auctioning more than $51 million of stock that it acquired through the Troubled Asset Relief Program.

Bank investors may be softening their antipathy for long earn-back periods. When Union First Market Bankshares promised five years of dilution – but a big boost to earnings – from its deal for StellarOne, its stock declined only a little.

Barry Sommers, the new head of JPMorgan Chase's consumer bank, spent most of his career selling wealth-management services. Now he says he's ready to serve the bank's less-affluent customers.

A breakdown of M&A announcements in the financial services industry for the week ended June 8.

The $120 billion-asset company has made a tender offer for certain debt of Union Planters Preferred Funding, a REIT subsidiary that it then plans to dissolve, it said Monday.

The $168 million-asset asset lender is offering as many as 500,000 shares at $10 per share, it announced Monday. The stock closed Friday at $9.85 a share; it had risen 1.5%, to $10, at midday Monday.

West Bancorp. (WTBA) in Des Moines, Iowa, is taking advantage of low interest rates to buy back a chunk of its stock.

The banking unit of FNB United in Asheboro, N.C., has been freed from a regulatory order and has completed its integration of the Bank of Granite.

Deloitte Corporate Finance has acquired McColl Partners, a middle-market investment bank founded by retired Bank of America Chief Executive Hugh McColl.

Union First Market Bankshares in Richmond, Va., has agreed to acquire StellarOne in Charlottesville, Va.

Wilshire Bancorp in Los Angeles has agreed to buy BankAsiana in Palisades Park, N.J.

The Office of the Comptroller of the Currency closed the $437.3 million-asset Mountain National Bank in Sevierville, Tenn., on Friday.