California

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.

Under orders from its regulators to boost a key capital ratio, Pacific Mercantile Bancorp in Costa Mesa, Calif., announced that it has already raised $11.2 million of fresh capital and has a deal in place to raise $27.3 million more.

A small Silicon Valley bank that lends primarily to technology startups has opened a lending office in incubator space in Boston.

Broadway Financial in Los Angeles is planning to close two of its five branches as part of a broader plan to trim overhead and preserve capital.

After initially warning investors that it expected to report a loss of $4.6 million in the second quarter, Wilshire Bancorp in Los Angeles now says that it turned a $2.1 million profit.

The Federal Deposit Insurance Corp. has ordered three community banks hobbled by losses on real estate loans to raise fresh capital or merge with other banks.

The Federal Reserve on Thursday announced written agreements with four banks, including the $2 billion-asset Old Second Bancorp Inc. in Aurora, Ill.

First PacTrust Bancorp Inc. in Chula Vista, Calif., said Wednesday that it raised an additional $542,500 from a common stock offering after its underwriters exercised a small portion of an overallotment option.

Bolstered by improved credit quality and growing demand for Small Business Administration loans, Nara Bancorp Inc. in Los Angeles reported its fourth-consecutive quarterly profit in the three months that ended June 30.

Analysts at Sandler O'Neill & Partners have raised earnings estimates for City National Corp. after the Los Angeles company reported strong second-quarter earnings growth that was aided by improved asset quality and "promising" gains in its commercial-and-industrial loan portfolio.

SVB Financial Group said Thursday that its second quarter earnings more than tripled what it made a year earlier, to $65.8 million.