Bank of Virginia (BOVA) in Midlothian is committing more than $80 million to two programs involving federally backed debt.

Citizens Financial Group in Providence, R.I., has formed a health care banking group for Massachusetts, Connecticut and Rhode Island, according to a news report.

HSBC Holdings Plc, Europe’s largest bank, plans to sell its Canadian store card unit to Toronto-Dominion Bank as it closes its consumer-finance business in the country.

First PacTrust Bancorp (BANC) in Irvine, Calif., is delaying the filing of its annual report after switching auditors and seeing several top executives leave in recent months.

LNB Bancorp in Lorain, Ohio, has retired a large chunk of its bailout money by offering its owners common stock.

Enterprise said Tuesday that its banking subsidiary has reached a deal to buy Gorman & Gorman Home Loans, a division of F&M Bank and Trust in Hannibal, Mo.

The Buffalo, N.Y. company has struggled to gain traction from last year's purchase of more than 100 HSBC branches.

First Niagara (FNFG) in Buffalo, N.Y. is looking for a permanent chief executive following the abrupt departure of John Koelmel.

Insurers, private-equity firms and others could swoop in and take underwriting and syndication business (and employees) from banks held back by new capital requirements.

First Financial Corp. (THFF) of Terre Haute, Ind., is buying seven branches and two drive-up locations in Illinois from Bank of America (BAC).

A unit of SVB Financial Group (SIVB) in Santa Clara, Calif., plans to raise $300 million for a venture capital fund.

BankUnited, the Florida bank led by John Kanas, has hired two of his former colleagues at Capital One — Joe Roberto and Kelly Sheehan — to run its nascent operation in the Big Apple.

HomeStreet (HMST) in Seattle may be nearing an exit from a cease-and-desist order after paying an important debt.

Columbia Banking System (COLB) in Tacoma, Wash., and West Coast Bancorp (WCBO) in Lake Oswego, Ore., announced late Monday that shareholders from both companies approved West Coast's planned sale to Columbia.

Consumer bankers are reluctant to start charging customers new fees for existing products. But Capital One's Jonathan Witter pointed to the flexibility banks offers in pricing business-banking products as an example of how they could generate more fee revenue on the consumer side.

Heritage Financial is paying 1.5 times tangible book value for Valley Community, but the markets welcomed the deal because Heritage expects to slash the seller's expenses as much as 50% because of market overlaps.

HSBC agreed to sell its Canadian store card unit to Toronto-Dominion Bank as it closes its consumer-finance business in the country.

U.S. Bancorp (USB) has agreed to purchase Deutsche Bank's (DB) municipal bond trustee business.

A breakdown of M&A announcements in the financial services industry for the week ended March 16.

Starbuck Bancshares has sweetened the consideration it will pay for PremierWest Bancorp (PRWT) in Medford, Ore.