California

Members 1st Credit Union, based in Redding, Calif., said Teri Vanderpol has been selected to succeed CEO Mark Moore when he retires next year.

BofI Holding in San Diego is planning a new $50 million offering after raising the same amount earlier this year.

RIVERSIDE, Calif. — The two largest credit unions in Riverside County, Calif., on Thursday announced their intention to merge to create a $1.1 billion institution serving 118,000 members in the "Inland Empire" region of Southern California.

NEWPORT BEACH, Calif. — The National Association of Credit Union Service Organizations says NCUA is in the wrong for asking Congress to expand the federal credit union regulator's authority over CUSOs and vendors that do business with CUs.

Credible Labs in San Francisco has completed a round of seed financing that it says will fuel further growth of its student loan refinancing business.

EL SEGUNDO, Calif. — Xceed Financial Credit Union announced it has redesigned and updated its website, www.xfcu.org, which features expanded login functions, enhanced product descriptions, and financial education content.

Wilshire Bancorp in Los Angeles has agreed to buy Manhattan Bancorp's mortgage lending division.

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services announced that it will re-launch its mobile banking application called "CO-OP Mobile."

Orange County Business Bank in Irvine, Calif., is facing a proxy battle from a Dallas investment firm.

Terry Robinson, a longtime California banker, died on Jan. 11, three days before his Manhattan Bancorp announced a proposed merger with Plaza Bancorp. Manhattan, which is operating under an OCC order, did not publicly disclose Robinson's death, or his Dec. 31 retirement, even though he played an integral role negotiating the merger.

Opus Bank in Irvine, Calif., has received regulatory approval to form a broker-dealer subsidiary that will expand its merchant banking capabilities.

The ability of Somali-Americans to send cash home to their relatives is again in peril after a California bank decided to stop facilitating the money transfers, according to a foreign aid organization that has been monitoring the situation.

Peer-to-peer and institution-to-small business loan marketplace Funding Circle launched a new fractional loan marketplace today, the San Francisco company announced.

SVB Financial Group in Santa Clara, Calif., is planning to issue $350 million in senior debt.

Central Valley Community Bancorp in Fresno, Calif., will soon have a new chief executive.

Local bankers will try to pick up any business that could fall out as a result of the merger. And with one less bank to buy in Southern California, remaining franchises also may command scarcity value.

PacWest Bancorp in Los Angeles reported an increase in fourth-quarter profit, the second full quarter after its April acquisition of CapitalSource Bank, a commercial lender that targeted small and medium-sized businesses.

Opus Bank in Irvine, Calif., has agreed to buy a pair of nonbanking businesses.

SAN JOSE, Calif. — Members of Sunnyvale Federal Credit Union voted "overwhelmingly" in favor of merging their institution into Technology Credit Union, Tech CU said Wednesday.

Ontario, Calif., — CU Direct Corp. announced that its board approved the payment of a 3% cash dividend to its 104 credit union shareholders, making it the tenth straight year that the company has issued a cash dividend to shareholders.