California

SAN DIEGO — Financial institutions this year have shown greater interest in marketing to "mobile-only" consumers, and mobile deposit is becoming the preferred way to load prepaid cards and deposit checks.

City National in Los Angeles reported a sharp rise in profits in the second quarter, fueled by loan growth and an increase in fee revenue.

Colony Financial in Santa Monica, Calif., plans to raise up to $382 million by selling common stock.

Hanmi Financial in Los Angeles reported higher quarterly earnings as returns from mortgages offset a drop in the sale of Small Business Administration loans.

PacWest Bancorp in Los Angeles reported higher quarterly earnings aided by its acquisition of CapitalSource.

Wilshire Bancorp (WIBC) in Los Angeles reported an increase in quarterly profit tied largely to recent acquisitions.

A community group has succeeded in forcing additional scrutiny of Banc of California's (BANC) expansion plans.

SAN FRANCISCO — It's time for credit unions to start talking a little SMAC.

SAN FRANCISCO — The flurry of regulations coming out of CFPB were expected to drive some credit unions right out of the mortgage business, but the "big dog" of mortgage regulation is yet to come, and that one might finally do the trick, according to one compliance expert.

SAN FRANCISCO — Credit unions need to continue to invest in technology — and use it well — if they expect to attract the elusive Millennial demographic.

Sierra Bancorp (BSRR) in Porterville, Calif., has agreed to buy Santa Clara Valley Bank (SCVE) in Santa Paula, Calif.

First National Bank of Southern California in Riverside and First Mountain Bank (FMBP) in Big Bear Lake, Calif., have terminated their planned merger.

East West Bancorp (EWBC) in Pasadena, Calif., reported double-digit earnings growth in the second quarter increase in its second-quarter earned a profit in the second quarter loan growth following the MetroCorp acquisition earlier this year.

A community group opposes Banc of California's plans to buy 20 branches, saying management isn't being open about plans to serve low-income and minority customers. The bank says it’s all a misunderstanding. Still, the issue shows why banks must foster good relations with powerful advocacy groups.

First Republic Bank (FRC) in San Francisco reported higher earnings for the second quarter, as strong revenue growth helped offset a rise in compliance costs.

Westamerica Bancorporation (WABC) in San Rafael, Calif., reported another decline in quarterly profits as low interest rates continued to reduce yields on loans and investment securities.

Pan Pacific Bank (PPFC) in Fremont, Calif., reported a spike in quarterly earnings after reclaiming its deferred-tax asset.

Hanmi Financial (HAFC) in Los Angeles has sold two insurance businesses Chunha Holding in Garden Grove, Calif.

The San Francisco bank posted strong growth in commercial loans in the second quarter, which may bode well for other banks that concentrate on business lending, but it wasn't enough to prevent questions about how Wells will be able to maintain its performance in the face of stepped-up competition from other lenders.

Wells Fargo & Co., the world's most valuable bank, said profit increased 3.8 percent on lower costs even as the lender snapped a 17-quarter streak of rising per- share earnings.