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The Treasury Department has begun an auction for its Troubled Asset Relief Program stake in nine more banks.
February 25 -
A founding director of Santa Clara Valley Bank has been elected as chairman. Scott K. Rushing replaces Ralph Rueda De Leon, who has served as chairman for the last three years. Additionally Elias F. Valdes was elected as vice chairman.
May 25 -
Santa Clara Valley Bank in Santa Paula, Calif., announced Friday that its president and chief executive, Michael D. Hause has resigned to return to a career in agribusiness.
July 22
The Office of the Comptroller of the Currency has lifted an Oct. 2010 consent order against Santa Clara Valley Bank in Santa Paula, Calif. Santa Clara Valley Bank, a subsidiary of SCVBank, was released from the order Nov. 12, according to the company's Thursday
The order required the $134 million-asset Santa Clara Valley Bank to maintain a minimum 9% Tier 1 leverage ratio and a minimum 12% total risk-based capital ratio. The bank was also required to strengthen regulatory compliance, loan review, loan underwriting, credit administration, allowance for loan loss and liquidity and funds management.
The bank had an 11% Tier 1 leverage ratio and a 22% total risk-based capital ratio as of Sept. 30, according to the Federal Deposit Insurance Corp.
Chairman Scott Rushing said in the release that he was "pleased to receive this acknowledgment of the progress made in building a community bank that is not only safe and sound with capital ratios in excess of regulatory requirements, but also positioned to grow and become more successful serving our local communities."
