California

Central Pacific Bank is quitting California. The Honolulu unit of Central Pacific Financial Corp., which has suffered heavy losses on West Coast construction loans, said Thursday that it would wind down operations there by 2012.

Though the market for trust-preferred securities remains strained, the warm reception for an offering from City National Corp. is expected to persuade others to consider this option for a capital boost.

Though the market for trust-preferred securities remains strained, the warm reception for an offering from City National Corp. is expected to persuade others to consider this option for a capital boost.

Shares of Center Financial Corp. rose Wednesday after the Los Angeles company said that it raised $12.8 million of capital.

Sunwest Bank had some explaining to do after it pulled away from construction lending about five years ago. Now the Tustin, Calif., company's patience is paying off.

American River Bankshares in Sacramento announced Monday that it has begun a stock offering to raise up to $25.3 million.

B of I Holding Inc. in San Diego has filed a shelf registration to raise up to $125 million of capital.

When it comes to pristine loan portfolios, Malaga Financial is among the truly elite. It had zero nonperforming loans at the end of the third quarter, a distinction shared by only 6.5% of banks and thrifts nationwide.

Westamerica Bancorp. bought back the remaining preferred shares sold to the Treasury Department in February, becoming the latest banking company to redeem its funding under the Troubled Asset Relief Program.

SVB Financial Group in Santa Clara, Calif., says it plans to raise $300 million in a sale of common stock and use most of the proceeds to repay all of its government-issued capital.

Two failures in Florida, including the collapse of Naples-based Orion Bank, and another in California late Friday brought the year's total to 123.

In a move that should help stressed banks avoid public relations fiascoes, the Federal Deposit Insurance Corp. has toned down the harsh wording of orders it issues to such institutions.

Harrington West Financial Group Inc. is courting potential investors as the next step in recapitalizing itself, Craig J. Cerny, its chairman and chief executive officer, said in an interview Thursday.

Nonperforming assets rose dramatically at Tamalpais Bancorp in San Rafael, Calif., forcing it to swing to a loss of $5M in the third quarter, from a profit of $1.5 million a year earlier.

East West Bancorp's takeover of the failed United Commercial Bank not only catapulted the struggling firm to new prominence, but it also sets up a showdown in California between the two biggest Chinese-American lenders.

The seizure of its $13 billion-asset United Commercial Bank on Friday suggests that even institutions the Treasury Department had the most confidence in a year ago are not all going to be winners in this down cycle — or, for that matter, survivors.

Officials announced the elaborate closing of San Francisco-based United Commercial Bank Friday night in a deal involving both U.S. and Chinese regulators and a buyer poised to assume the bank's operations immediately.

Enforcement actions often call for banks to increase capital, but a recent order for Hanmi Financial Corp. shows regulators are getting pickier. They want more common equity.

Over a year after being hit hard by the takeover of Fannie Mae and Freddie Mac, FBOP Corp.'s nine banks totaling $19B in assets were closed by the government Friday night.

San Joaquin Bank in Bakersfield, Calif., became the industry's 99th failed institution of the year late Friday.