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By Staff Report / Thursday, March 21st, 2013 / Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies / Comments Off on FCAL shareholders vote in favor of merger with PacWest
Shareholders in First California Financial Group voted overwhelmingly in favor of merging the bank into rival PacWest Bancorp at a March 20 meeting. Investors in the Westlake Village bank cast 23.4 million votes in favor of the $233 million deal, with 212,252 shares voting against the proposal and 5,865 abstaining. The deal still requires regulatory Read More →
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By Marlize van Romburgh / Friday, March 15th, 2013 / Banking & Finance, Banking Industry, Top Stories / Comments Off on Community bank recovery takes shape in region
A recovery is taking hold across the region’s mid-sized banks, marked by higher profits and climbing share prices. Ventura-based County Commerce bank’s share price is up about 7 percent year-to-date, coming off of the bank’s most successful year so far. “Growing during an economic downturn is not easy, as you know,” CEO Joe Kruetz told Read More →
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By Stephen Nellis / Friday, March 15th, 2013 / Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies / Comments Off on FCAL execs grab hold of golden parachutes
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By Marlize van Romburgh / Friday, February 15th, 2013 / Banking & Finance, Banking Industry, Top Stories, Tri-County Public Companies / Comments Off on PennyMac jobs top 600 as firm files for IPO
Moorpark-based PennyMac Financial Services has filed papers for a $287.5 million initial public offering on the New York Stock Exchange. The venture was founded in 2008 by Stanford Kurland, the former No. 2 executive at Countrywide Financial Corp., the defunct subprime mortgage lender at the heart of the financial crisis. Moorpark Community Development Director David Read More →
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By Marlize van Romburgh / Friday, February 8th, 2013 / Banking & Finance, Banking Industry, Top Stories, Tri-County Economy / Comments Off on First California nixes acquisition on eve of PacWest deal
Westlake Village-based First California Financial Group has called off a deal to acquire Premier Service Bank, a small Riverside-based lender it was slated to buy last year. The dashed deal may be a sign that a contentious $231 million acquisition of First California by Los Angeles-based PacWest Bancorp is moving forward. Executives from First California Read More →
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By Staff Report / Friday, January 11th, 2013 / Banking & Finance, Banking Industry, Latest news / Comments Off on U.S Bank CEO speaks in Santa Barbara
Sometimes, uncertainty is a good thing. That was one view from Richard K. Davis, the head of U.S. Bank, as he spoke in Montecito on Jan. 11 Davis is the president of the Federal Advisory Council of bankers that consults with the board of governors of the Federal Reserve System. He said he has often Read More →
