Though the California recession officially ended four years ago, nearly three dozen community banks still feel its effects, the state's chief banking regulator said.

Conrad Hewitt, commissioner of California's Department of Financial Institutions, said 35 state-chartered banks have been classified as troubled by the Federal Deposit Insurance Corp. These institutions, which have a combined $4.8 billion of assets, either lack sufficient capital, have weak management, or carry a high percentage of nonperforming loans.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.