California

Nara Bancorp Inc. announced this week that it intends to raise $55 million in connection with its pending acquisition of Center Financial Corp. — a far cry from the $150 million it initially said it would need to seal the deal.

SVB Financial Group's stock was up sharply Friday after the company reported third-quarter earnings that handily beat analysts' estimates.

Silicon Valley Bank said Thursday that it has received a key approval from a Chinese regulator to establish a joint venture bank in Shanghai.

The two largest U.S. banks serving Chinese Americans — Cathay General Bancorp and East West Bancorp Inc. — both reported double-digit jumps in third-quarter profits. Each cited solid demand for commercial loans.

Sabal Financial Group L.P. of Newport Beach, Calif., has acquired a $153 million portfolio of loans located in some of the hardest hit regions of the United States.

Huntington Bancshares Inc. of Columbus, Ohio, and Security California Bancorp of Riverside, Calif., will add offices in the coming months.

Technology Credit Union has applied to NCUA to convert to a mutual savings bank, which, at $1.5 billion, would be the biggest credit union conversion to bank yet.

BofI Holding Inc. in San Diego announced Monday that it has changed the name of its federally chartered savings bank from Bank of Internet USA to BofI Federal Bank.

Ambitious Opus Bank announced Monday that it has signed lease agreements to open five new branches in California and Washington.

BB&T Corp.'s insurance unit has agreed to acquire Liberty Benefit Insurance Services, a purchase that will expand its California operations.

Opus Bank, Irvine, Calif., hired Michael L. Allison as chief credit officer and executive vice president.

Continuing a wave of consolidation among California community banks, AltaPacific Bancorp in Santa Rosa said late Wednesday that it is buying Stellar Business Bank in Covina for $17.4 million in stock.

Simone Lagomarsino reflects on the divisive debate on whether credit unions should be allowed to raise capital. Backers view such a move as a necessity for struggling credit unions, while detractors worry that it could cost the industry its tax-exempt status.

Simone Lagomarsino took the helm of Heritage Oaks in Paso Robles, Calif., on Monday. The veteran banker has a long track record of selling banks, but says she is here to build value.

Continuing its aggressive expansion in Southern California, upstart Grandpoint Capital Inc. in Los Angeles is planning to buy Regents Bancshares Inc. in La Jolla.

Heritage Oaks Bancorp in Paso Robles, Calif., has named longtime California banking executive Simone Lagomarsino as its new president and chief executive officer and as CEO of its subsidiary, Heritage Oaks Bank.

Just days after announcing plans to raise $10 million in a preferred stock offering, BofI Holding Inc. in San Diego now says it intends to raise $18 million.

The Federal Reserve on Thursday announced two written agreements and three civil money penalties.

A $9.07 a share, Beach Business Bank's comes at a 53% premium to the Manhattan Beach, Calif., seller's closing price.

Bank of Commerce Holdings in Redding, Calif., has beefed up its payroll processing capabilities by acquiring a small payroll firm in its hometown.