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In bank and thrift news:
Cory Methodist Church Credit Union -- which the Superintendent of the Ohio Division of Financial Institutions had placed into conservatorship Feb. 4 -- merged into Eaton Family Credit Union Inc. yesterday.
In California, AltaPacific Bancorp is buying Commerce Bank Temecula Valley in a cash-and-stock transaction valued at about $15.9 million.
In other banking news, big banks have begun to question the value of Basel's advanced approaches program, given other safeguards in place that stop them from holding lower capital, American Banker reports. The Federal Reserve's stress tests and the supplementary leverage ratio make the program -- aimed to develop internal models for examining risk-based capital compliance -- irrelevant, some say.
Carver Bancorp Inc. has paid the debenture interest payments owed to the holders of its Carver Statutory Trust I capital securities. Failure to do so could have triggered demands that the principal plus interest be paid immediately, possibly leading to a lawsuit and even bankruptcy.
Meanwhile, Green Bay, Wis.-based Associated Bank NA received a "needs to improve"...