Toronto-Dominion will promote U.S. head Bharat Masrani to CEO once Ed Clark retires in late 2014. Organic growth and selective M&A — especially in the U.S. — will remain priorities during the lengthy transition period, the executives of the Canadian company said.

Ocwen Financial (OCN) has completed its purchase of the reverse mortgage lender Liberty Home Equity Solutions from Genworth Financial (GNW).

Pacific Mercantile Bancorp (PMBC) has completed a deal that should help the Costa Mesa, Calif., company in an effort to shed troubled loans.

Bharat Masrani, 56, who currently serves as chief executive of its U.S. banking unit, will succeed Ed Clark, 67, as CEO of the parent company when Clark steps down from the post next year, Toronto-Dominion said Wednesday.

TriState Capital Holdings in Pittsburgh has filed to hold an initial public offering.

Bank deal-making faces a new hurdle as a small group of attorneys challenges a large number of buyout offers. For the lawyers, even dubious challenges can result in big paydays. For potential acquirers, the added costs and hassles are another hurdle on the way to reinvigorating the still-struggling bank M&A market.

First Mariner Bancorp (FMAR) in Baltimore has revised downward its earnings for the fourth quarter and full year of 2012.

BancVue in Austin, Texas, has acquired a business to expand its leasing capabilities.

Industry observers are hopeful that CEOs will use quarterly conference calls to outline plans to aggressively unload bad assets in coming months.

CorTrust Bank in Mitchell, S.D., recently bought a bank near Minneapolis and plans to do more deals there. It, like a lot of community banks, is trying to expand into new markets without repeating the precrisis mistakes that doomed many of its peers.

Customers Bancorp (CUUU), led by Chairman and Chief Executive Jay Sidhu, has applied with the Federal Reserve Board to open an office at 99 Park Avenue in Manhattan.

Howard Bancorp (HBMD) in Ellicott City, Md., is buying a branch from Cecil Bancorp (CECB) in Elkton, Md.

Fewer bank deals were struck in the first quarter compared with a year earlier and the fourth quarter, despite increasing optimism about consolidation and the economy.

A unit of EverBank Financial (EVER) has sold more than $300 million in mortgage-backed securities.

First BanCorp (FBP) in San Juan, Puerto Rico, is raising $201 million through three separate sales of commercial loans.

First Citizens BancShares (FCNCA) in Raleigh, N.C., has named a former Royal Bank of Canada (RY) executive to be its chief financial officer.

A breakdown of M&A announcements in the financial services industry for the week ended March 30.

William B. Harrison, Jr., the former Chairman and CEO of JPMorgan Chase and an outspoken advocate for large banks, says a big bank breakup won't happen — but admits that he's surprised by how much support there is for the idea.

Pittsburgh, Madison, Wis. and Tulsa, Okla., also ranked high in Nerdwallet's inaugural ranking of the 10 best cities for banking customers.

Columbia Banking System (COLB), Prosperity Bancshares (PB), Crescent Financial Bancshares (CRFN) and Bell State Bank & Trust completed acquisitions Monday.