California

The company lost money in the third quarter as it aggressively looked to build assets. At least one investor urged management to take a break from acquisitions during a quarterly call to discuss results.

Stephen Carpenter will step down as CU Bancorp's vice chairman and become a director emeritus at the end of the year, the $1.3 billion-asset company said Thursday.

Quarterly profit rose 36% at BofI Holdings (BOFI) in San Diego, as the online bank's loan growth led to higher interest income.

Independence Bank in Newport Beach, Calif., has agreed to buy Premier Service Bank (PSBK) in Riverside.

The Treasury Department plans to auction seven more lenders' Troubled Asset Relief Program shares, with a total face value of about $90 million.

HomeStreet (HMST) in Seattle is expanding its mortgage business in California.

SVB Financial (SVB) in Santa Clara, Calif., reported a 60% increase in quarterly profit after investment securities it holds rose more than ninefold in value.

PacWest Bancorp (PACW) in Los Angeles doubled its profits in the third quarter thanks to its purchase of First California Financial Group (FCAL).

Los Angeles-based Wilshire Bancorp (WIBC) said this week that it had a third-quarter profit of $11.3 million, largely due to steadily improving credit quality and net gains on loan sales.

Heritage Oaks Bancorp (HEOP) in Paso Robles, Calif., has agreed to buy Mission Community Bancorp (MISN) in San Luis Obispo, Calif.

First Republic Bank (FRC) in San Francisco reported a 9% rise in quarterly profit on increased lending and continuing improvement in its wealth management income.

The Treasury Department expects to receive roughly $66 million from a recent auction of stakes it owns in seven banks from the Troubled Asset Relief Program.

A wave of management changes at Korean-American banks highlights the difficulties of filling key posts in a niche banking industry.

The Treasury Department plans to auction stakes in eight more banks as it continues winding down the Troubled Asset Relief Program.

Bay Commercial Bank (BCML) in Walnut Creek, Calif., has appointed a state regulator as its new chief risk officer and senior vice president.

Hanmi Financial (HAFC) in Los Angeles has hired a handful of banking executives from rival Korean-American lender BBCN Bank (BBCN).

FirstBank in Lakewood, Colo., has announced plans to acquire a branch in Palm Desert, Calif., from El Paseo Bank.

The $18 billion-asset company said late Tuesday it has acquired certain assets and liabilities from Surety Financial Services in Sherman Oaks, Calif. The companies did not disclose the terms or specify the assets that were transferred.

Cathay General Bancorp (CATY) in Los Angeles has finished buying back the shares it issued to the Treasury Department under the Troubled Asset Relief Program.

The chairman of City National Corp. in Los Angeles is passing the role to his son.