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PennyMac changes roles of several executives

By   /  Tuesday, December 13th, 2016  /  Banking Industry, Latest news  /  Comments Off on PennyMac changes roles of several executives

PennyMac Mortgage Investment Trust in Westlake Village on Dec. 13 announced changes in the roles of several executive officers in conjunction with organizational changes announced by PennyMac Financial Services. Stanford L. Kurland, currently chairman and CEO, will assume the role of executive chairman. David A. Spector, currently executive managing director, president and chief operating officer, Read More →

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Heritage Oaks Bancorp merging with Pacific Premier

By   /  Tuesday, December 13th, 2016  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Heritage Oaks Bancorp merging with Pacific Premier

Story updated at 11:30 a.m.: In a deal that will once again shake up the ranks of top banks in the region, Pacific Premier Bancorp of Irvine will acquire Heritage Oaks Bancorp for $405.6 million or $11.68 per share based on current values. The all-stock merger, announced before the markets opened on Dec. 13, will Read More →

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Bank of America hires new market president

By   /  Friday, December 9th, 2016  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Bank of America hires new market president

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Regulation key to fintech’s future

By   /  Friday, December 2nd, 2016  /  Banking & Finance, Banking Industry, Latest news, Law  /  Comments Off on Regulation key to fintech’s future

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Regulatory agencies terminate Heritage Oaks Bancorp consent order

By   /  Tuesday, November 29th, 2016  /  Banking & Finance, Banking Industry, Latest news, Law  /  Comments Off on Regulatory agencies terminate Heritage Oaks Bancorp consent order

Heritage Oaks Bankcorp said Nov. 29 that state and federal regulatory agencies have terminated a consent order related to the Bank Secrecy Act and anti-money laundering programs at its Heritage Oaks Bank subsidiary. The Paso Robles-based bank is the largest in the region with $2 billion in assets. Heritage Oaks said the Federal Deposit Insurance Read More →

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Wells Fargo economist says Trump will likely help economy

By   /  Wednesday, November 23rd, 2016  /  Banking & Finance, Banking Industry, Latest news, Tri-County Economy  /  Comments Off on Wells Fargo economist says Trump will likely help economy

President-elect Donald Trump will likely have a positive impact on the regional and national economy in the short term in the form of tax cuts and ramping up defense spending, Wells Fargo Senior Economist Mark Vitner said. Trump claims he will reduce personal and corporate income taxes, which would theoretically spur investment in the U.S. Read More →

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OCB Bancorp income grows during third quarter

By   /  Monday, November 14th, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on OCB Bancorp income grows during third quarter

In its third quarter earnings report, OCB Bancorp — parent company of Ojai Community Bank, Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank — reported net income year-to-date of $851,000, or 37 cents per share, up from $622,000 last year. Total loans increased by $42 million, or 26 percent, to hit Read More →

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