Georges Benarroch, a Canadian investor and financial executive, purchased last week 7.1% of the ailing Bank of San Francisco Co.

Also last week, the parent of the Bank of San Francisco said it would suspend the dividend on its convertible preferred stock. In September, the company stopped paying dividends on its common stock.

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.