California

Organic loan growth propelled the Internet banking company BofI Holding (BOFI) to record profits in the quarter that ended March 31.

Union Bank has entered into a strategic alliance with Lending Club, a peer-to peer lending marketplace provider that connects creditworthy borrowers with investors.

First National Bank of Southern California announced Monday that it is acquiring First Mountain Bank in Big Bear Lake, Calif., in a deal that would roughly double its size.

Banc of California (BANC) in Irvine has acquired an 8% stake in Clearinghouse CDFI, an institution that serves low- to moderate-income communities in California and Nevada.

PLEASANTON, Calif. — The writing is not on the wall — it's on your phone.

SAN JOSE, Calif. — Perhaps the biggest question swirling around last month's Finovate conference is: why are mobile payments still more hope than reality?

It's about to get a lot harder for credit unions to reach their members on Facebook.

SAN DIEGO — Credit unions have vastly expanded their online footprint in recent years by establishing a social media presence, but the social media landscape for CUSOs is less clear.

A raft of mobile payment companies are demonstrating their technology in San Jose this week, even as they acknowledge that the sector has not yet lived up to investors' initial hopes.

FICO has acquired the Hadoop-based analytics technology developed by Karmasphere in Cupertino, Calif.

Community West Bancshares (CWBC) in Goleta, Calif., said it will redeem almost half of its outstanding preferred stock issued under the Troubled Asset Relief Program.

Korean-American banks have been challenged by an aging core customer base, which threatens growth. Hanmi Chief Executive C.G. Kum plans to respond with a national SBA program and plans to court other immigrant communities.

Pacific Valley Bank (PVBK) in Salinas, Calif., will restate certain earnings after a review of its loan portfolio caused it to question certain loan classifications.

COVINA, Calif. — Performance objectives for the executive team can't be too general that they prevent a leader from directly influencing the objective, advises Executive Compensation Solutions.

PETERBOROUGH, N.H. — Bank credit card growth last year outpaced credit union card growth for the first time since 2007, a figure cards experts say indicates much tougher competition is ahead for CUs, especially around rewards.

Improved credit quality and income from venture capital and private equity investments helped SVB Financial (SIVB) in Santa Clara, Calif., more than double its first-quarter profits.

Aided by strong growth in loans and income from trust services, City National (CYN) in Los Angeles reported net income $54.5 million the first quarter, up 6% from the same period last year.

PacWest Bancorp (PACW) in Los Angeles reported a surge in quarterly profits as the company produced more loan revenue.

Popular (BPOP) in San Juan, Puerto Rico, has found buyers for its regional operations in Illinois, California and central Florida.

Aided by strong loan growth and improved asset quality, Hanmi Financial (HAFC) in Los Angeles said Tuesday that its first-quarter profits increased 10% from the same time last year, to $11 million.