California

Mechanics Bank in Walnut Creek, Calif., has entered the residential mortgage market and hired a banker to lead the new loan group.

Banks are generally selling for less than they did before the financial crisis. Yet there have been select instances in which buyers have been willing to pay significant premiums to sellers' tangible book values. Here are the highest premiums since January 2015 for deals valued at $100 million or more.

Lighthouse Bank in Santa Cruz, Calif., has brought back one of its co-founders to become its president. The $176 million-asset bank said in a press release that Jon Sisk had become its president on Monday.

Broadway Financial in Los Angeles has been released from an enforcement action administered by the Federal Reserve.

The company plans to eliminate an unknown number of positions, including high-paying job titles such as managing director.

A former BBCN Bancorp director said that four of the Los Angeles company’s 13 directors did not vote for its purchase of Wilshire Bancorp.

A pair of former BBCN directors said they resigned due to issues with the company's corporate governance and the leadership of Chairman and CEO Kevin Kim. BBCN claims the directors, who voted against its planned acquisition of Wilshire Bancorp, resigned after they were informed of plans to remove them from the board.

First Choice Bank in Cerritos, Calif., has promoted Nicole Swain to the newly created position of chief banking officer.

Fourth-quarter profit tanked at CIT Group in New York, as the costs to dismiss former OneWest Bank executives, and losses tied to the sale of Brazilian businesses weighed on results.

JPMorgan Chase will have its name on the proposed arena for the Golden State Warriors in San Francisco, the National Basketball Association team said.