California

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.

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.

First Republic Bank in San Francisco said Thursday that its third-quarter profit climbed 27.4% from the same period last year, to $171.8 million, thanks to double-digit gains in both interest and fee income.

Large banks are outpacing community banks in deposit gathering because new liquidity rules make deposits more valuable to the biggest banks, mobile banking has been a deposit magnet for the heavyweights, and regional and midsize players hold certain advantages over smaller rivals, too.

First Foundation in Irvine, Calif., has agreed to buy a pair of branches from Pacific Western Bank in Beverly Hills, Calif.