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By Marlize van Romburgh / Friday, September 6th, 2013 / Banking & Finance, Banking Industry, Small Business, Top Stories / Comments Off on Small-business groups can match banks, borrowers
Business is as much about who you know as what you know.
Long-time art gallery owner Sylvia White came to realize that as she struggled to get financing to purchase a building in downtown Ventura. She had purchased the gallery space with owner financing several years earlier. But now the five-year period on that high-interest loan was coming up, and White needed a bank to take over. She was turned down by lenders again and again.
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By Stephen Nellis / Friday, July 26th, 2013 / Banking & Finance, Banking Industry, Law & Goverment, Technology, Top Stories / Comments Off on Make It Work creditors demand $150K from defunct firm
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By Marlize van Romburgh / Friday, July 5th, 2013 / Banking & Finance, Banking Industry, Law & Goverment, Top Stories / Comments Off on Ventura County Business Bank investors sue over stock sale, merger
Investors in Ventura County Business Bank, a small commercial lender that was acquired by Royal Business Bank in 2011, are suing its new owners and former executives, alleging fraud and misrepresentation. The plaintiffs — Mark Engle, Paul Turley, Mark Ioele, Ronnie Case, Dennis McCarty, Kuen Sil Park, Holger Blank and Farihan Uwaydah — allege that Read More →
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By Marlize van Romburgh / Friday, June 21st, 2013 / Banking & Finance, Banking Industry, Top Stories / Comments Off on Credit unions ride membership surge to higher profits, assets
The region’s credit unions, increasingly the go-to financial institutions for consumers, are seeing a broad-based surge in earnings and assets. Out of the the five consumer credit unions based in the Tri-Counties, the largest three saw their earnings jump last year compared to 2011, while all five also saw their assets increase. At Ventura County Read More →
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By Marlize van Romburgh / Friday, June 7th, 2013 / Banking & Finance, Banking Industry, Top Stories, Tri-County Economy, Tri-County Public Companies / Comments Off on $243M merger comes with fine, branch closures
PacWest Bancorp’s contentious acquisition of First California Bank has closed but the dust hasn’t settled yet on the $243 million merger. As the deal was sealed, the banks announced that federal regulators had ordered First California to pay a $600,000 fine and set up $1.1 million in restitution to more than 64,000 consumers who had Read More →
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By Marlize van Romburgh / Friday, May 31st, 2013 / Banking & Finance, Banking Industry / Comments Off on FCAL ordered to pay fine, set up $1.1M restitution fund for prepaid card users
Westlake Village-based First California Financial Group has agreed to pay a $600,000 fine and set up $1.1 million in restitution to more than 64,000 consumers who used its prepaid debit card products. The announcement from the Federal Deposit Insurance Corp. comes on the day that Los Angeles-based PacWest Bancorp’s $237 million acquisition of First California Read More →
