Hope Bancorp to buy Hawaii bank in $79 million deal
American Banker
APRIL 29, 2024
The Los Angeles-based company, which focuses on Korean Americans, said the acquisition of Territorial Bancorp will allow it to expand its customer base.
PacWest in Los Angeles accelerates CEO succession
American Banker
NOVEMBER 22, 2022
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RBB Bancorp, Gateway Bank in Bay Area call off merger
American Banker
OCTOBER 2, 2023
The $23 million deal, signed in 2021 and initially projected to close in the second quarter of 2022, was delayed multiple times amid leadership turnover at the Los Angeles-based RBB.
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Big Lenders Process Half-Million Loan Applications Totaling $45.8B
PYMNTS
MAY 1, 2020
Less than 30,000 loan applications from both banks combined have been approved by Small Business Administration (SBA). The government shut big lenders out of the program on Wednesday (April 29) so more community banks could participate.
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California banks to combine in $234 million 'merger of equals'
American Banker
JANUARY 30, 2024
billion-asset lender with a footprint spanning San Diego, Greater Los Angeles and the San Francisco Bay Area. The deal involving Southern California Bancorp and California BanCorp, expected to close in the third quarter, would form a $4.6
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African American-led fintech rides SBA's minority-lending wave
American Banker
NOVEMBER 9, 2023
Los Angeles-based Lendistry — in less than two years — became the largest Black-run 7(a) lender. Its CEO credits a concerted effort by the Small Business Administration to reach out to minority lenders and businesses, whose participation in the lending program is growing.
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MidFirst in Oklahoma City to Buy 1st Century in Los Angeles
American Banker
MARCH 11, 2016
MidFirst Bank in Oklahoma City has agreed to buy 1st Century Bancshares in Los Angeles.
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D.C. banker poised to lead nation's biggest Black-run bank after merger
American Banker
JANUARY 4, 2021
Brian Argrett, whose City First Bank is being sold to Los Angeles-based Broadway Financial, would take the helm of the combined company at a time of increased national interest in reinvigorating minority-owned financial institutions.
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Cathay Commits to Community Reinvestment Plan with CRC
American Banker
NOVEMBER 1, 2016
Cathay General Bancorp in Los Angeles has agreed to a community reinvestment plan tied to its deal to buy SinoPac Bancorp from Bank SinoPac in Taiwan.
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CFPB announces new appointments to advisory groups
CFPB Monitor
SEPTEMBER 21, 2015
The CFPB announced the appointment of new members to its Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory Council. New members to the Consumer Advisory Board will serve three-year terms and new members to the Community Bank and Credit Union Advisory Councils will serve two-year terms.
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60 Two board members resign from Los Angeles bank ahead of annual meeting
American Banker
MAY 17, 2022
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California bank bets on two new markets to reverse lending slump
American Banker
FEBRUARY 7, 2020
Sierra Bancorp in Porterville has formed dedicated lending teams in Sacramento and Greater Los Angeles in its bid to accelerate loan growth following a sluggish 2019.
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Credit woes weigh down Hanmi's quarterly results
American Banker
JANUARY 29, 2020
The Los Angeles company set aside more money to cover a problem loan after an updated appraisal of the credit's collateral.
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Banc of California to terminate soccer stadium agreement
American Banker
MAY 27, 2020
The company will incur an upfront fee but will save $7 million a year by walking away from a deal with the Los Angeles Football Club.
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CFPB announces new appointments to advisory groups
CFPB Monitor
AUGUST 22, 2016
The CFPB has announced the appointment of new members to its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council. Arjan Schutte, Founder and Managing Partner, Core Innovation Capital, Los Angeles, CA. Community Bank Advisory Council Members.
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National Small Business Week Celebrates the American Entrepreneurial Spirit
Abrigo
APRIL 28, 2016
SBA Administrator Maria Contreras-Sweet started three businesses in Los Angeles, including a community bank, before joining President Obama’s cabinet in April 2014. So dream big, take that next small step today, because the next great American success story could be staring back at you in the mirror.
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Cathay General to have new CEO in October
American Banker
JULY 17, 2020
The Los Angeles company said Chang Liu, who runs its bank, will succeed Pin Tai, who is retiring.
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The Untapped Power of Brand in Banking
Jeff For Banks
MARCH 27, 2019
“Our money is the same as the bank’s down the street.” And so were the Uber cars in my recent trips to Los Angeles and Nashville. I moderate bank strategic planning sessions. Because it is contrary to the mantras I often hear: relationship building, community, and trust. But something was different.
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Cathay General to Buy SinoPac Bancorp for $340M
American Banker
JULY 8, 2016
Cathay General Bancorp in Los Angeles has agreed to buy SinoPac Bancorp from Bank SinoPac in Taiwan.
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PacWest Exits FDIC Loss-Share Agreements
American Banker
MAY 16, 2016
PacWest Bancorp in Los Angeles is the latest bank to exit its loss-share agreements with the Federal Deposit Insurance Corp.
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34 Hope Bancorp Closing a Second Round of Branches
American Banker
DECEMBER 29, 2016
Hope Bancorp in Los Angeles will close an additional nine branches next year as part of a second round of cost cutting.
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Profit Improves at BBCN, Wilshire Ahead of Banks' Merger
American Banker
JULY 19, 2016
Profit improved at both BBCN Bancorp and Wilshire Bancorp in the second quarter, about two weeks ahead of the closing date for the Los Angeles companies' merger.
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CU Bancorp in Calif. Hit with BSA-Related Reg Order
American Banker
SEPTEMBER 28, 2016
CU Bancorp in Los Angeles has agreed to a consent order to address deficiencies in its Bank Secrecy Act and anti-money laundering compliance program.
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28 Cathay General Profit Plunges as Chargeoffs Soar
American Banker
JULY 22, 2016
Second-quarter earnings at Cathay General Bancorp in Los Angeles fell 22.9% million from a year earlier on a triple-digit spike in chargeoffs.
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PacWest's Profit Falls on Higher Expenses
American Banker
JULY 15, 2016
PacWest Bancorp in Los Angeles reported lower quarterly profit as higher expenses offset gains from fees and loan growth.
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Seeking CRE (and CRA) Credits, Boston Private Opening L.A. Office
American Banker
MAY 9, 2016
Boston Private Financial Holdings is expanding its footprint in California, opening a new office in Los Angeles on June 1. The company will have 35 offices nationwide, including 14 on the West Coast.
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RBC's U.S. Bank Forms National Food and Beverage Division
American Banker
SEPTEMBER 29, 2016
City National Bank in Los Angeles has launched a national business to focus on the food and beverage industries.
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BBCN to Rebrand as Hope Bancorp After Completing Wilshire Deal
American Banker
MAY 13, 2016
BBCN Bancorp in Los Angeles will rebrand itself as Hope Bancorp after buying Wilshire Bancorp. billion-asset BBCN also plans to change the name of its banking subsidiary to Bank of Hope after the deal closes.
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28 Banking Economies of Scale Revisited
Jeff For Banks
JANUARY 20, 2017
I also noted in my most recent and in all of my past Top 5 total return posts that community banks deliver superior returns to their larger brethren. One example is German American Bank, highlighted in American Banker's Community Banker of the Year issue, and on this blog. It is a $3B bank with a 55% efficiency ratio.
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Treasury Significantly Cuts Stake in Broadway Financial in Calif.
American Banker
DECEMBER 23, 2016
The Treasury Department has significantly reduced its stake in Broadway Financial in Los Angeles.
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PacWest to Sell Four Properties for $12 Million
American Banker
NOVEMBER 16, 2016
PacWest Bancorp in Los Angeles has agreed to sell four properties in California to a real estate firm.
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Loans Gained in Square 1 Buyout Boost PacWest Profit
American Banker
APRIL 14, 2016
PacWest Bancorp in Los Angeles reported higher quarterly profit led by its acquisition of Square 1 Financial in Durham, N.C.
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28 Former California Regulator, Banker Joins Hanmi Financial Board
American Banker
JUNE 8, 2016
A longtime California bank regulator and executive has joined the board at Hanmi Financial in Los Angeles.
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Investors Push Commonwealth Business Bank to Explore Sale
American Banker
JULY 14, 2016
That’s the message that two funds have for directors of Commonwealth Business Bank in Los Angeles.
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28 Pacific City in L.A. Raises $15.3M
American Banker
AUGUST 8, 2016
Pacific City Financial in Los Angeles has raised $15.3 million in a secondary stock offering.
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CRE Credit Risk – What You Need To Know Now
South State Correspondent
APRIL 10, 2023
CRE Risk Background While ten years ago, community and regional banks use to make up some 55% of the CRE market, in 2023, these banks now compose approximately 72% (below). The risk here is that community banks continue to take on an above-average amount of CRE credit exposure. touched off a wave of bankruptcies.
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195 L.A. Bank Forms Holding Company
American Banker
JUNE 6, 2016
Open Bank in Los Angeles has formed a holding company.
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"Without vision, the people perish."
Jeff For Banks
APRIL 24, 2010
My guess is to the holy grail of banking, the “General Bank”. Don’t laugh, there once was a bank named General Bank in Los Angeles. Should your bank’s name be General Bank? We don’t identify our destination, yet we set about a strategy to get somewhere. Where, I’m not sure.
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60 Banking's Total Return Top 5: 2014 Edition
Jeff For Banks
DECEMBER 18, 2014
A summary of the banks, their strategies, and links to their website are below. #1. Open Bank (OTCQB: OPBK) Open Bank commenced operations in 2005 as First Standard Bank in the Koreatown section of Los Angeles. They are built as a relationship bank serving the Korean community in LA and surrounding areas.
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Steal This 5-Step Banking Innovation Playbook from Gentle Monster
South State Correspondent
MAY 1, 2024
With financial hardship, competition from dominant players, and a startup budget, Gentle Monster faced many of the same challenges as a community bank. How Banks Can Leverage: Niche markets abound in banking, and community banks are in the perfect position to create a following on a national level should they desire.
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AnchorID Brings Custom Authentication to Credit Unions
Fintech Labs Insights
SEPTEMBER 12, 2016
CU Wallet, a Los Angeles-based provider of white-label digital wallet solutions for regional and community FIs, has picked Finovate Best of Show winner AnchorID to provide multi-factor authentication. The technology integrates readily with Microsoft Active Directory and Azure, Linux, LDAP, and SAML.
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The 2015 GonzoBanker Awards
Gonzobanker
DECEMBER 22, 2015
To those community bankers claiming their growing Compliance departments say no to everything. Community bank marketing resources. Two very strong and focused community banks unite to combine big bank reach with community bank style and make the bet that it can scale to $15 billion and beyond.
The 2014 GonzoBanker Awards
Gonzobanker
DECEMBER 22, 2014
It’s been a busy year integrating recent acquisitions, purchasing $1 billion+ in Banco Popular deposits, hiring former Los Angeles Mayor Antonio Villaraigosa to advise on community relations, and having former President Bill Clinton speak at a major financial literacy event. Bank Acquisition of the Year - BB&T Corp.
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Lenders Getting Ready for Second Round of PPP Funding
Abrigo
APRIL 23, 2020
“All of the [lenders] are in a holding pattern, but it will be like rush hour in New York or Los Angeles. The one known change to the second round of funding is an earmarked $60 billion in PPP loans reserved specifically for community financial institutions. E-Tran might go through an overload period.” learn more.
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