Commercial Capital Bancorp ( CCBI) surged on news that Washington Mutual ( WM) is planning to buy the lender in a deal that values the company at $983 million.

Each Commercial Capital share will be acquired for $16 in cash. Shares of Commercial Capital rose $1.55, or 11%, to $15.70, while Washington Mutual was down 39 cents, or 0.9%, at $44.62. The companies should close the transaction in the third quarter, provided Commercial Capital shareholders and regulators approve the plan.

Separately, Commercial Capital reported earnings of $13.8 million, or 24 cents a share, for the first quarter. The company earned $23.1 million and 40 cents a share in the year-ago period. Total assets were $5.7 billion at the end of March.

TD Ameritrade ( AMTD) said its first-quarter profit rose to $172.8 million, or 30 cents a share, from $77.4 million, or 19 cents a share, last year. Earnings in the latest quarter included a gain of 8 cents a share from the sale of an investment.

Wall Street was expecting earnings of 21 cents a share, which the company topped, excluding the gain. The company posted revenue of $497.2 million, beating analysts' estimate of $481.8 million.

For this year, TD Ameritrade forecast earnings of about 94 cents a share, up from a midpoint of 91 cents a share offered previously. For 2007, the company projected earnings of $1.06 a share, down 9 cents from its prior guiance. On average, analysts are calling for earnings of 89 cents a share this year and $1.24 a share in 2007. Shares of TD Ameritrade were sinking $2.03, or 9.4%, to $19.47.

American Express ( AXP) posted first-quarter earnings of $873 million, or 69 cents a share, compared with $946 million, or 75 cents a share, in the year-ago period. Revenue rose 12% to $6.33 billion. The year-ago results include income from American Express' former financial planning arm, which was spun off last year. Adjusted for that transaction, American Express' first-quarter earnings rose 18% from last year to $876 million, or 70 cents a share.

Analysts were expecting American Express to earn 69 cents a share on an operating basis, with revenue of $6.35 billion. Shares of American Express slipped 63 cents, or 1.2%, to $51.62.

Glacier Bancorp ( GBCI) was lower on word the company signed a merger agreement with Citizens Development Co. Glacier will pay $77 million, of which 60% will be in cash. Glacier said it plans to register about 2 million shares for future sale. Shares of Glacier dropped 71 cents, or 2.3%, to $30.06.

Bank of Hawaii ( BOH) fell after the company said its first-quarter earnings were flat with a year ago. Bank of Hawaii earned $45.4 million, or 87 cents a share, compared with $45.5 million, or 83 cents a share, last year. Analysts polled by Thomson First Call were expecting earnings of 87 cents a share.

Net interest income rose 1.5% to $102.2 million, and noninterest income edged up to $52.6 million. Also, the company reaffirmed this year's earnings guidance of about $187 million, including a $17 million provision for credit losses. Shares lost 69 cents, or 1.3%, to $52.63.

Independent Bank ( IBCP) fell slightly after the company said its first-quarter earnings totaled $12.3 million, or 56 cents a share, compared with $11.3 million, or 50 cents a share, a year ago. Analysts were looking for earnings of 53 cents a share.

The company said tax-equivalent net interest income reached $35.3 million during the first quarter, up $200,000 from last year. Shares dipped 24 cents to $27.02.