California

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.

Bank of America's chief financial officer on Tuesday downplayed the odds of a Wells-Fargo-style phony-account scandal at B of A, contending that it does not use hard-charging sales tactics.

Opus Bank in Irvine, Calif., said Monday that it expects to report a third-quarter loss of 5 cents a share, reflecting $38.8 million in chargeoffs tied to eight loans in its technology, commercial and specialty lending divisions.

Profit at Farmers & Merchants Bank of Long Beach in California improved in the third quarter, due to loan growth and increased securities income.

California Bank of Commerce in Lafayette has hired a veteran credit administrator to help expand its small-business lending.