California

The Trump transition team is said to have recommended that Steven Mnuchin be nominated Treasury secretary. A Goldman Sachs alum, he is known as a successful change agent for his roles in the transformation of the failed IndyMac into OneWest and the revamping of CIT, but some community reinvestment advocates remain critical of him.

Summit State Bank in Santa Rosa, Calif., has hired a rival’s chief credit officer.

Community banks in the Pacific Northwest and New England completed acquisitions late in the week, and the TIAA-EverBank deal has moved a step closer to reality.

Banc of California in Irvine has delayed filing its third-quarter 10-Q as it continues to probe purported improper transactions that may have involved directors and senior executives.

Voters in Florida, North Dakota, Montana and Arkansas approved medical marijuana measures on Tuesday, while their counterparts in California, Massachusetts and Nevada approved recreational pot initiatives.

As voters in California, Florida and nine other states decide whether to legalize marijuana, the results may force Congress to resolve differences between federal and state laws that have paralyzed much of the banking industry.

Opus Bank in Irvine, Calif., which reported a third-quarter loss tied to credit issues, has elevated two lending officers to executive-level posts.

Cathay General Bancorp in Los Angeles has agreed to a community reinvestment plan tied to its deal to buy SinoPac Bancorp from Bank SinoPac in Taiwan.

Square 1 Bank, a unit of PacWest Bancorp, has hired two financial services veterans to expand its banking services for venture capital and private-equity firms and named a new leader of that practice.

Heartland Financial in Dubuque, Iowa, has agreed to buy Founders Bancorp in San Luis Obispo, Calif.