California

The $7.5 billion-asset company said in a press release Thursday that Curtis Glovier had become chairman and chief executive of Pensco Trust Co.

Four years after the first states legalized marijuana, most bankers still want nothing to do with it.

Problem technology credits drove down quarterly profits at Opus Bank in Irvine, Calif., which said it will pull back on tech lending even though that had become one of its most important niches.

Second-quarter earnings at Cathay General Bancorp in Los Angeles fell 22.9% to $34.8 million from a year earlier on a triple-digit spike in chargeoffs.

Banc of California's second-quarter profits soared on stronger lending and credit quality. The $10.2 billion-asset company increased net income 66% from a year earlier to $26.5 million, it said in a news release Thursday.

One of the nation’s biggest banks and the so-called “everything store” have joined forces to extend loan discounts to students.

Executives at several minority-owned community banks nationwide, including OneUnited Bank in Boston and Carver Federal Savings Bank in New York, say they have received a windfall of deposits in recent weeks, coinciding with the introduction of the Black Money Matters Project.

Profit improved at both BBCN Bancorp and Wilshire Bancorp in the second quarter, about two weeks ahead of the closing date for the Los Angeles companies' merger.

Bank of America, the second-biggest U.S. bank by assets, said second-quarter profit fell 21% as it took an accounting charge and posted a decline in wealth management revenue.

PacWest Bancorp in Los Angeles reported lower quarterly profit as higher expenses offset gains from fees and loan growth.

Profit rose at First Republic Bank in the second quarter, as higher loan originations and fee-based business offset a spike in employee salaries that was partly caused by the bank raising its minimum wage.

That’s the message that two funds have for directors of Commonwealth Business Bank in Los Angeles.

Charles Schwab Bank, BBVA Compass and Mechanics Bank are among the latest investors in a California microfinance firm that specializes in small-business lending.

The $7.9 billion-asset holding company for Citizens Business Bank said David Farnsworth will start as credit chief of both entities on July 18. He will succeed James Dowd, who retired on July 1.

Cathay General Bancorp in Los Angeles has agreed to buy SinoPac Bancorp from Bank SinoPac in Taiwan.

The number of customers who obtained 10 payday loans in 2015 outnumbered those who obtained just one, the California Department of Business Oversight said in a report Wednesday.

Banc of California in Irvine has changed its bylaws to allow for majority voting for directors.

Bay Bancorp in Columbia, Md., has named one of its largest investors, Steven Hovde, to its board.

The recently rebranded California International Bank has stiffed the government on 30 dividend payments and has spurned a request to let Treasury officials observe its board meetings. There is some optimism; a Vietnamese businessman was approved to take over control after injecting $4.5 million in capital into the bank.

The $5.3 billion-asset company said in a press release Tuesday that it will buy two branches in the California markets of Granada Hills and Burbank from the $7.3 billion-asset Boston Private Financial Holdings in Boston.