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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 →
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By Marlize van Romburgh / Friday, November 30th, 2012 / Banking & Finance, Banking Industry, Latest news, Tri-County Economy / Comments Off on Union Bank to slash almost half of SBB&T work force
Union Bank will lay off almost 500 Santa Barbara Bank & Trust employees, or nearly half the bank’s work force, the San Francisco-based lender announced on the eve of its acquisition of Pacific Capital Bancorp. A spokesperson for Union Bank told the Business Times that 468 SBB&T positions will be eliminated over the next year. Read More →
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By Staff Report / Wednesday, November 14th, 2012 / Banking & Finance, Banking Industry, Latest news / Comments Off on UPDATE: Pacific Capital sale to close Dec. 1
Union Bank’s $1.5 billion acquisition of Santa Barbara Bank & Trust’s parent company is slated to close Dec. 1 now that federal regulators have signed off on the deal. In approving the sale of Pacific Capital Bancorp with a formal order on Nov. 14, Federal Reserve officials set in motion a number of events. They Read More →
