California

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.

Citing the possibility of regulatory orders that might impose higher capital requirements, three West Coast banking companies are moving forward with stock offerings.

As the former chief executive of Fair Isaac Corp., Larry E. Rosenberger knows a thing or two about credit risk. Now he's taking one, by extending a $500,000 loan to the cash-strapped Tamalpais Bancorp.

For the industry's entrepreneurs, buying a small depository, rather than building one from scratch, has gone from the exception to the rule.

James Gutierrez, chief executive of Progress Financial in San Jose, believes he has found the key to reaching unbanked Hispanics — credit.

Wilshire Bancorp Inc. in Los Angeles has filed a shelf registration to raise up to $100 million of capital.

At least two community banking companies announced plans Tuesday to raise capital, some of which may be used to repay government capital.

UCBH Holdings Inc.'s troubles have deepened, as the San Francisco company ousted its chief executive of 18 years and another top manager amid allegations of fraud. The $13.8 billion-asset UCBH, which caters to Chinese immigrants, said an investigation by its board found that "certain bank officers" had tried to disguise credit problems and misled the company's finance department and outside auditors.

WASHINGTON — Three banks totaling $1.9 billion in assets failed late Friday, bringing the year's closure total to 84.

Sierra Bancorp in Porterville, Calif., has lined up a $21.3 million capital infusion.

California credit unions had another increase in loan delinquencies during the second quarter, and more of them have been deemed troubled.