California

Four failed-bank deals announced Friday evening marked another successful night for private equity.

Pacific Capital Bancorp in Santa Barbara, Calif., earned $20.8 million in the fourth quarter in its first full quarter after a $500 million capital infusion.

Center Financial Corp. in Los Angeles swung to a $5.7 million fourth-quarter profit from a loss of $25.2 million as credit quality showed signs of stability.

Banking companies were not alone in reporting improved 2010 financial results. A growing number of big, troubled credit unions are also reporting positive income for last year, and others are slashing their losses, more proof of an improving economy.

Hanmi Financial Corp. in Los Angeles on Thursday reported its first profitable quarter in more than two years. The $2.9 billion-asset company earned $5.3 million in the fourth quarter, compared with a loss of $35.9 million a year earlier.

First California Financial Group Inc. in Westlake Village has reported that its regulator lifted an informal agreement, clearing the way for it to pay dividends.

Nara Bancorp Inc. in Los Angeles has reported earning $5 million in the fourth quarter, compared with a loss a year earlier.

Sierra Bancorp in Porterville, Calif., reported a dip in fourth-quarter earnings that it attributed Monday to bigger losses associated with foreclosed properties.

Pacific Commerce Bank in Los Angeles said Monday that it raised $5 million in a private placement this month.

SVB Financial Group in Santa Clara, Calif., said that Ken Wilcox will step down as its chief executive to focus more on the company's global expansion.

California General Bank in Pasadena has completed its purchase of Professional Business Bank, the companies said Tuesday.

Vibra Bank in Chula Vista, Calif., on Tuesday reported a fourth-quarter profit of $51,000 as it reached its second year in business.

In the midst of the largest Korean-American bank merger, Center Financial Corp. has "terminated" its chief executive.

Hanmi Financial Corp.'s recapitalization agreement with Woori Finance Holdings Co. Ltd. remains in place despite passing a Dec. 31 deadline.

At least three banking companies marked the end of the year by closing deals.

First California Financial Group Inc. in Westlake Village has agreed to buy an electronic banking solutions group from Palm Desert National Bank.

North Valley Bancorp in Redding, Calif., announced that it has completed a 1-for-5 reverse stock split.

Santa Lucia Bancorp in Atascadero, Calif., which is operating under a written agreement with the Federal Reserve, has brought back a former president and chief executive to help it work through credit problems.

Most billion-dollar community banks have skirted the surge of traditional mergers and acquisitions that has engulfed their smaller peers — until now.

California United Bank in Encino and California Oaks State Bank said their shareholders have approved the agreement in which California United would buy the Thousand Oaks bank.