California

The Chicago Federal Home Loan Bank reaches agreement with Redwood Trust so member institutions can sell loans to the private-label issuer.

PLEASANTON, Calif. — Even for information technology veterans, undertaking a core conversion is a daunting challenge. And for good reason as the core touches all moving parts — from back office to member interfaces and all points in between.

SAN BERNARDINO, Calif. – Pete Aguilar, a former employee of Arrowhead Credit Union, appears to have claimed the second spot in this week's primary election for California's 31st congressional district.

LOS ANGELES — Moneyworks, a startup that's preparing to roll out its personal financial management app, took home the $10,000 prize in a financial innovation contest Friday.

Union Bank in San Francisco has added five new directors, including a former bank regulator, as part of a series of changes to its corporate names and structure.

What lays ahead in the ever-changing payments marketplace? Credit Union Journal asked some industry experts and here's what they said.

American Express can provide affordable products to the unbanked and still make a profit, company executive Dan Schulman said at the Emerge conference. He was vague on details but hinted that its prepaid cards built on an lower-cost software platform are part of the answer.

Californians picked Republican Neel Kashkari, a political newcomer who ran the federal bailout of the U.S. banking system, to challenge incumbent Democrat Jerry Brown for governor in November.

CU Bancorp (CUNB) in Encino, Calif., has agreed to buy 1st Enterprise Bank (FENB) in Los Angeles.

BofI Holding (BOFI) in San Diego, the parent of BofI Federal Bank, is mourning the passing of Jerry F. Englert, a company founder and member of the board of directors.

Under Roy Malone's direction, Golden Pacific Bancorp last year introduced an online lending platform that vastly speeds up the approval process for borrowers seeking Small Business Administration loans ranging from $5,000 to $150,000.

The emergence of several regional banks in California could prompt smaller institutions to weigh their M&A options. Higher operating costs and limited revenue opportunities could also force more consolidation in the state.

BURBANK, Calif. — If Partners Federal Credit Union had a theme song, it would be "Be Our Guest," from the Disney hit musical "Beauty and the Beast."

The head of a California mortgage lender who perpetrated a $5.3 million mortgage fraud scheme against Ally Financial will serve more than four years in prison.

Seacoast Commerce Bank (SCCB) in San Diego has opened a new loan production office in Boise, in an effort to extend its Small Business Administration lending business to Idaho and eastern Washington.

California Bank of Commerce (CABC) in Lafayette plans to raise $12 million through a secondary offering.

Lessons of the crisis still have lenders nervous. But today's documentation requirements should keep things in check.

FNB Bancorp (FNBG) in South San Francisco is expanding into the East Bay with a deal to acquire Valley Community Bank in Pleasanton.

BURBANK, Calif. — UMe Federal Credit Union had a problem. Though the $160 million, one-branch CU had a mobile banking application available to its 13,050 members, only a small percentage were using the service.

David Malone, former CEO of Community Bank in Pasadena, Calif., was appointed to BBCN's board, which expanded to 11 members.