California

Banks are generally selling for less than they did before the financial crisis. Yet there have been select instances in which buyers have been willing to pay significant premiums to sellers' tangible book values. Here are the highest premiums since January 2015 for deals valued at $100 million or more.

Lighthouse Bank in Santa Cruz, Calif., has brought back one of its co-founders to become its president. The $176 million-asset bank said in a press release that Jon Sisk had become its president on Monday.

Broadway Financial in Los Angeles has been released from an enforcement action administered by the Federal Reserve.

The company plans to eliminate an unknown number of positions, including high-paying job titles such as managing director.

A former BBCN Bancorp director said that four of the Los Angeles company’s 13 directors did not vote for its purchase of Wilshire Bancorp.

A pair of former BBCN directors said they resigned due to issues with the company's corporate governance and the leadership of Chairman and CEO Kevin Kim. BBCN claims the directors, who voted against its planned acquisition of Wilshire Bancorp, resigned after they were informed of plans to remove them from the board.

First Choice Bank in Cerritos, Calif., has promoted Nicole Swain to the newly created position of chief banking officer.

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.

First Republic Bank in San Francisco has appointed Katherine August-deWilde to the newly created position of vice chair.

First Republic Bank in San Francisco has appointed Katherine August-deWilde to the newly created position of vice chair.

Oak Valley Bancorp in Oakdale, Calif., has promoted Jeff Gall to chief financial officer. Gall had been the vice president of finance and accounting.