California

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.

One PacificCoast Bancorp (OPCB) in Oakland, Calif., has received regulatory approval to acquire a controlling stake in Albina Community Bancorp (ACBC) in Portland, Ore.

Sterling Financial in Spokane, Wash., has gone ahead with rebranding its California operations as Argent Bank despite its recent merger announcement.

Self-Help Federal Credit Union, the California community development credit union that bought Second Federal Savings & Loan last year, has officially reopened the failed thrift in conjunction with Chicago's Resurrection Project.

East West of Los Angeles hopes that buying MetroCorp in Houston will help its Chinese clients develop business ties in the Lone Star State.

East West Bancorp (EWBC) in Pasadena, Calif., has agreed to pay $273 million in stock and cash for MetroCorp Bancshares (MCBI) in Houston.

The Central Bank's surprise decision to continue buying mortgage bonds may not spark another refinancing boom, but it could spur more home purchases.

Simplicity Bancorp's experience with mortgage servicing could give banks a reason to reconsider plans to ditch the business despite concerns about new regulations.

The American Bankers Association has formed a group to lobby on behalf of rural lenders.

Community Valley Bank in El Centro, Calif., has hired a new chief executive.

NCAL Bancorp in Los Angeles has agreed to a recapitalization that would give it new ownership.

The Federal Deposit Insurance Corp. has filed more lawsuits against the directors and officers of failed financial institutions in 2013 than in any year since the recession, according to a Cornerstone Research report released Monday.

Banc of California (BANC) in Irvine has acquired the investment advisory firm Palisades.

The U.S. unit of Chinatrust Commercial Bank is changing its name to CTBC and offering more services to attract a broader range of customers. But it faces the same challenges other community banks are encountering as they try to expand beyond their traditional boundaries.

HomeStreet (HMST) in Seattle has expanded its mortgage business in the Golden State, opening six offices in Northern and Central California.

Avidbank in Palo Alto, Calif., said that Kenneth Brenner will step down as president to become head of strategic relationships. Ronald Oliveria, Abidbank's chief credit officer, will succeed Brenner. The bank also made Dori Hamilton its chief banking officer.

The $1.1 billion-asset company said in a press release Wednesday that its bank had been released from a memorandum of understanding with the Federal Reserve Board.