California

Fourth-quarter profit tanked at CIT Group in New York, as the costs to dismiss former OneWest Bank executives, and losses tied to the sale of Brazilian businesses weighed on results.

JPMorgan Chase will have its name on the proposed arena for the Golden State Warriors in San Francisco, the National Basketball Association team said.

CVB Financial in Ontario, Calif., has agreed to sell a branch Sierra Bancorp in Porterville, Calif.

Opus Bank in Irvine, Calif., has agreed to buy Pensco Trust Co. in San Francisco from Pensco Services.

Profits at SVB Financial Group in Santa Clara, Calif., soared in the fourth quarter on strong loan growth.

Firstrust Bank has signed a marketing deal with the Philadelphia 76ers, even though the NBA team plays in an arena emblazoned with the name of another bank — and will until 2024.

Higher wealth management fees and improved interest income led First Republic Bank in San Francisco to double-digit profit growth in the fourth quarter.

Umpqua Holdings in Portland, Ore., has hired Tory Nixon, who played for the San Francisco 49ers in the 1980s, as head of commercial banking.

Opus Bank in Irvine, Calif., will cut about 10% of its workforce and cancel contracts for redundant systems and services.

Deloitte has named Kenny Smith leader of its financial services industry group in the U.S., succeeding Robert Contri, who had held the role since 2011.