California

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.

Royal Bank of Canada is ready to take another shot at U.S. banking, agreeing to buy City National in Los Angeles.

Cathay General Bancorp in Los Angeles has agreed to buy Asia Bancshares in New York.

SVB Financial in Santa Clara, Calif., has agreed to sell a specialty finance business in India at a net loss.

First Republic Bank in San Francisco reported flat fourth-quarter profits as strong deposit growth and gains in both interest and fee income were largely offset by higher expenses.

Westamerica Bancorp. in San Rafael, Calif., reported lower quarterly results as lower yields and a smaller loan book dragged down profit.

Plaza Bancorp in Irvine, Calif., has agreed to buy Manhattan Bancorp in El Segundo, Calif.

Numerous banks are expected to say they trimmed expenses yet again when they report fourth-quarter results in the coming weeks. But that trend may ebb soon as many executives are forced to spend on technology and to expand their businesses.

Central Valley Community Bank in Fresno, Calif., plans to report a fourth-quarter loss because of a hefty chargeoff of commercial loans.

Nationwide the number of bank branches fell by about 1.7% last year. But some cities and states were hit harder than others, according to data from the Federal Deposit Insurance Corp. and research firm BankRegData.

A San Diego-based debt collector has agreed to pay $675,000 in civil penalties and give up $18 million won in court fights against 4,500 consumers, New York Attorney General Eric Schneiderman said Friday.