Latest
By Marlize van Romburgh / Friday, May 3rd, 2013 / Banking & Finance, Banking Industry, Top Stories / Comments Off on Branch bidding war looms for Ventura County
PacWest Bancorp’s $231 million acquisition of Westlake Village-based First California Bank will push numerous Ventura County branches onto the market, and the CEO of the next largest independent bank in the region says she’s taking a hard look. “It’s a market we’re very interested in expanding into,” Simone Lagomarsino, CEO of Paso Robles-based Heritage Oaks Read More →
Latest
By Staff Report / Tuesday, April 30th, 2013 / Banking & Finance, Banking Industry, Latest news, Personal Finance / Comments Off on PennyMac prices IPO at $17 to $19
Moorpark-based PennyMac Financial Services has priced its initial public offering of stock at $17 to $19 per share, indicating plans to raise as much as $211.1 million in its launch on the New York Stock Exchange. PennyMac, headed by former Countrywide Financial Corp. President Stanford Kurland, employs more than 600 people in Moorpark and more Read More →
Latest
By Staff Report / Friday, April 26th, 2013 / Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies / Comments Off on Heritage Oaks’ Q1 profits jump as bank prepares to pay off TARP
Heritage Oaks Bancorp reported a $3.7 million first-quarter profit, up 131 percent over a year earlier, and said it is gearing up to repay $25 million in bailout funds it took at the height of the recession. The repayment comes with the announcement that two sets of banking regulators have lifted an order over the Read More →
Latest
By Marlize van Romburgh / Friday, April 12th, 2013 / Banking & Finance, Banking Industry, Columns, Real Estate / Comments Off on Umpqua Bank returns to market with new branch in Templeton
This article is only available to Business Times subscribers Subscribers: LOG IN or REGISTER for complete digital access. Not a Subscriber? SUBSCRIBE for full access to our weekly newspaper, online edition and Book of Lists. Check the STATUS of your Subscription Account.
Latest
By Staff Report / Thursday, April 11th, 2013 / Banking & Finance, Banking Industry, Top Stories, Tri-County Public Companies / Comments Off on Prosecutors allege Deckers, Pacific Capital victims of KPMG auditor’s leaks
Deckers Outdoor Corp. and the former Pacific Capital Bancorp, two of the biggest names in tri-county business, were the targets of a KPMG auditor who leaked their financial information to a golf partner and now faces federal criminal insider trading charges, according to prosecutors. Scott London, a former partner in charge of the accounting firm’s Read More →
Latest
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 →
Latest
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 →
