California

Lending and managing money for recording artists and labels can be a profitable niche. But volatile income streams, intellectual property challenges and business model upheaval can trip up the inexperienced.

he $640 million credit union is conducting a nationwide search for a successor to John Walling, who will retire July 31.

The California Reinvestment Coalition is pressing regulators to reject the $700 million bank merger unless PacWest commits more resources to underserved groups in Southern California.

Credit union will switch core processors in October, becoming the 21st Share One client in California.

Auditors performing a review of Ocwen Financial padded time sheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services.

Bay Area CU launches Business Banking Division to increase, diversify loan portfolio.

Loan origination system part of company’s lending technology push.

The bank also announced that it has recruited a BancWest executive to replace Michael Descheneaux as CFO.

Five Star Bancorp in California is the latest bank to work with a marketplace lender on referrals. The move comes as the SBA programs have record volumes while concerns linger about banks working with third parties.

Greig, who orchestrated FirstMerit's sale to Huntington Bancshares, joined Opus' board last month.

The company's earnings fell 20% from a year earlier, reflecting $5 million in restructuring charges and a higher loan-loss provision.

The $34 million acquisition is expected to strengthen Central Valley's banking operations in northern California.

Unable to outspend big banks on technology, Asian-American banks are marketing to different ethnic groups and immigrants, sponsoring events for youth and young professionals and emphasizing in-person service.

Doug Bowers will serve as the permanent replacement for Steven Sugarman, who resigned in January.

Sierra will pay $36 million for the parent of the $257 million-asset Ojai Community Bank in a deal that should close by the end of this year.

The California company's credit issues eased some in the first quarter, though earnings were down from a year earlier due to charges tied to cost cutting and reductions in three loan categories.

Credit union will switch May 1, becoming the 20th Share One client in California.

Opus Bank has added Paul Greig, who was CEO of FirstMerit until its sale in July, as a director.

The deal, which is expected to close in the fourth quarter, should significantly increase PacWest's operations in Southern California.

Dean Odle takes over for Robin Lentz, who retired after 37 years at the helm.