California

PacWest Bancorp in Los Angeles has agreed to sell four properties in California to a real estate firm.

The surprising outcome of last week's presidential election is already causing some banks to adjust interest rates on loans and rethink their technology spending.

First Republic Bank in San Francisco is looking to raise $287 million from a secondary offering.

Aaron Vermut has resigned as chief executive of Prosper Marketplace, according to a report in The Wall Street Journal. Vermut stepped down last week but will remain a director at the San Francisco-based online lender, according to the report, which cites unnamed sources.

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.

Can banks outdo online lending startups in head-to-head competition? We're about to find out. Goldman Sachs, Wells Fargo and Quicken have all entered the digital lending business, putting early entrants on the defensive.

As banks grow and their business models become more complex, some find that adding a general counsel to the staff makes sense. Bank SNB in Stillwater, Okla., says hiring one allowed it to reduce its legal fees by 80%. Here are the pros and cons.

The $11.2 billion-asset Banc of California said in a press release Friday that it sold the division the $4.4 billion-asset Hanmi. The companies did not disclose the price.

Opus Bank in Irvine, Calif., reported a larger-than-forecast quarterly loss after deciding to set aside more reserves than it predicted it would a week earlier.

Loan growth in Arizona and Southern California led to improved third-quarter profit at Western Alliance Bancorp. in Phoenix.

PacWest Bancorp in Los Angeles reported higher third-quarter profits thanks to higher net interest income, increased commissions and fees and the elimination of its loss-sharing agreements.