Regulators back Pacific Premier acquisition of Heritage Oaks
The board of governors of the Federal Reserve System and the California Department of Business Oversight approved Irvine-based Pacific Premier Bancorp’s acquisition of Heritage Oaks Bancorp in Paso Robles, the company announced in a news release March 21. The all-stock deal, announced Dec. 13, is valued at $405.6 million or $11.68 per share. It combines the Read More →
Tri-county community banks ready to be heard on financial policy
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Fiscal reform needed as pension time bomb ticks away
America’s summer of fiscal discontent is coming to a close on a downbeat note. The California legislature is preparing to wind up its session having stirred up a lot of controversy but done almost nothing to address the state’s ongoing pension crisis. The burgeoning shortfall now adds up to $139 billion in the CalPERS fund Read More →
Policy normalization must continue
By Dan E. Hamilton Since 2008, the Federal Reserve has been engaged in an unprecedented experiment, one without any economic theory to recommend it. Its policies are internally inconsistent. Some work to restrict credit. Others ease credit. The 2007 failure of New Century Financial, a leading subprime lender, did not derail the economy. However, when Read More →
U.S. unlikely to experience negative interest rates
Story updated at 10:30 a.m.: The U.S. is unlikely to experience negative interest rates, Federal Reserve Bank of St. Louis President and CEO James Bullard said at the UC Santa Barbara Economic Summit at the Granada Theater on May 5. He said U.S. labor market strength justifies the Fed’s vision of gradually rising rates and Read More →
2016 expected to be good year for real estate in Tri-Counties
Despite the slight increase of interest rates and the drought’s persistence, real estate brokers are bullish on 2016. The Federal Reserve’s decision to gradually raise interest rates throughout 2016 will not likely have a short-term impact on development and real estate activity, industry sources told the Business Times. And while the city of Pismo Beach Read More →
Fed rate increase should help take risk out of financial markets
The Federal Reserve’s decision to slowly begin the process of normalizing interest rates may not have all that much to do with the economy or inflation. The economy isn’t really overheated and any threat of inflation remains far off in the future. Parsing the Fedspeak of the Dec. 16 announcement that regulators are “reasonably confident” Read More →
