California

The third-quarter performance of small and midsize banks in California — long a bellwether for the nation's community institutions — has given rise to some optimism.

San Diego Trust Bank Monday announced its 24th consecutive quarterly profit, reporting third-quarter earnings of $218,000, up 30% from a year earlier.

Farmers and Merchants Bank of Long Beach in California announced Monday that third-quarter earnings rose more than 10% from a year earlier.

Sierra Bancorp in Porterville, Calif., said Thursday that it would raise $22 million in capital through several institutional investors.

Monterey County Bank settled with the FDIC over allegations that certain credit and debit practices were "deceptive," the agency said Tuesday.

Saehan Bank, a unit of Saehan Bancorp, has agreed to pay $2.2 million to the United States to settle allegations that it misrepresented or withheld information to get the Small Business Administration to fund loans.

Mission Valley Bancorp in Sun Valley, Calif., said Monday that it received $4.8 million of capital from a Treasury Department program designed for community development banks.

K-Fed Bancorp in Covina, Calif., has received conditional approval from the Office of Thrift Supervision to commence its second-step conversion from a mutual to a stock company.

Mission Oaks Bancorp Inc. in Temecula, Calif., restated its second-quarter earnings, resulting in a wider loss stemming from impaired loans.

Capital Bancorp Ltd. said Tuesday that it has completed the sale of its 51% stake in the Bank of San Francisco.

A Los Angeles Superior Court judge has thrown out a lawsuit filed on behalf of shareholders by the former chairman of Nara Bancorp, a Los Angeles company serving the Korean-American community.

The Brookfield, Wis., banking technology vendor said Thursday that the $3.6 billion-asset Patelco is planning to implement its Acumen software to help its expansion efforts.

Umpqua Bank said Wednesday that it is opening a commercial banking center in northern Nevada that will be led by a former US Bank commercial banking veteran in that market.

A branch manager at CVB Financial Corp. in Ontario, Calif., has been arrested and charged with embezzling thousands of dollars from customer accounts at its bank unit.

Security California Bancorp in Riverside has raised $20 million in a private placement of its common stock to refuel its subsidiary, Security Bank of California.

Under the heat of a regulatory order, Tri-Valley Bank in San Ramon, Calif., said Monday that a group of investors has agreed to purchase $10 million of the bank's common stock.

Harrington West Financial Group Inc. has filed for bankruptcy nearly a month after federal regulators took over its subsidiary and principal asset, Los Padres Bank.

USA Federal Credit Union, a small credit union chartered to serve Navy personnel in the San Diego area, said Monday it will be bought by Navy Federal Credit Union, one of several bidders for the ailing institution.

Stephen Gordon, who along with a group of investors plans to put nearly $460 million into California's Bay Cities National Bank, said he is "looking to build a superregional."

Stephen Gordon, who along with a group of investors plans to put nearly $460 million into California's Bay Cities National Bank, said he is "looking to build a superregional."