California

Pacific Commerce Bank (PFCI) has completed corrective steps mandated by the Federal Reserve Bank of San Francisco.

Commonwealth Business Bank (CWBB) in Los Angeles has added veteran banker Alvin Kang to its board.

Sierra Vista Bank (SVBA) in Folsom, Calif., has hired a new president and chief executive.

The Securities and Exchange Commission has settled charges against a former executive of UCBH Holdings, the parent of the failed United Commercial Bank in San Francisco.

The $345 million-asset Broadway lost $228,000 in the second quarter, it announced Monday. It earned $1.7 million in the second quarter of 2012, when it recorded a $2.5 million profit from the sale of its former headquarters.

Orient Bancorp in San Francisco named Richard Cupp, a well-known California banker and turnaround specialist, its permanent chief executive five weeks after he joined as interim CEO.

BlackRock, DoubleLine and Pimco filed a lawsuit Wednesday to try to stop the city of Richmond from buying and restructuring underwater mortgages through the use of eminent domain.

Banc of California (BANC) in Irvine has hired a group of bankers to lead its new correspondent lending group.

BofI Holding (BOFI) in San Diego reported its sixth consecutive quarter of record profits as an expansion of its balance sheet led to higher lending income.

Hanmi Financial (HAFC) in Los Angeles has hired Bonita Lee, a recently departed executive from BBCN Bancorp (BBCN), as its chief operating officer.

Heritage Oaks Bancorp (HEOP) in Paso Robles, Calif., has agreed to repurchase the stock warrants it issued through the Troubled Asset Relief Program.

Pacific Trust Bank in Los Angeles has exercised its option to buy CS Financial in Beverly Hills, the bank said in a regulatory filing. Jeffrey Seabold, the managing director of Pacific Trust's residential lending division, is a majority owner of CS.

The rapidly growing Opus Bank in Irvine, Calif., has split its commercial and retail banking operations.

Chinatrust Bank in Los Angeles has hired heads of risk management and retail banking.

The $23.3 billion-asset company reported Wednesday a second-quarter profit of $74 million, 5% higher than the second quarter of 2012.

Cathay General Bancorp (CATY) in Los Angeles reported flat quarterly earnings as higher expenses offset gains from securities sales.

The $2.8 billion-asset Wilshire would pay about $105 million in cash and stock for the $542 million-asset Saehan, the companies announced Monday.

First PacTrust in Los Angeles plans to become to Banc of California, effective July 16.

Opus Bank in Irvine, Calif., is establishing a merchant-banking division led by two banking veterans.

Citigroup is putting 90 branch buildings in California up for sale, with plans to lease them back.