Pacific Commerce Bank (PFCI) has completed corrective steps mandated by the Federal Reserve Bank of San Francisco.
The regulator lifted its written agreement with the Los Angeles bank on Aug. 28, according to a Pacific Commerce news release. The
The California Department of Business Oversight in July
"Release of the written agreement completes the turnaround for Pacific Commerce Bank and sets us on the path towards implementation of our strategic plan of growth by acquisition coupled with organic growth in the markets we serve throughout Southern California," Chief Executive Scott Andrews said in a news release Tuesday.
Pacific Commerce has two branches in Los Angeles and plans to open a third branch in San Diego, Andrews said. The bank