California

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.

Citigroup Inc. (C) is seeking bidders for about 50 branches holding $3 billion in California as the third-largest U.S. lender pares brick-and-mortar outlets, said three people involved in the process.

SAN DIEGO — A thief used his cell phone to rob a credit union here late last week.

Consumers can now use Lending Club to pay for schooling or elective medical procedures.

Compliance software vendor Strevus is adding support for bitcoin and other cryptocurrencies to its products.

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services has entered into an agreement with Visa to make the Visa EMV common debit solution available to its credit union clients.

Westamerica Bancorp. (WABC) in San Rafael, Calif., reported a dip in profits because of fewer customer transactions and a decline in loan revenue.

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services announced today that it delivered a shareholder dividend of $30.5 million for fiscal year 2013, a 17% increase from the previous year.

Two former executives of Sonoma Valley Bank have been indicted for their alleged involvement in a $9.5 million fraud scheme.

BofI Holding (BOFI) in San Diego has agreed to buy certain assets and all the deposits of H&R Block Bank.

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