First California Financial Group Inc. in Westlake Village has reported that its regulator lifted an informal agreement, clearing the way for it to pay dividends.

The Federal Reserve Bank of San Francisco issued the agreement last February, requiring regulatory approval for payments tied to dividends, trust-preferred securities or capital distributions.

The $1.6 billion-asset company said it was in full compliance and got a green light to pay dividends on its series B preferred stock and on its trust-preferred securities.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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