News Topic: california

Live Oak Bancshares is used to finding ways to make small-business loans, but its new M&A operation was formed after two bankers pitched the plan to Live Oak's management. ... Read full article

The new business will advise Live Oak clients on how to structure and finance acquisitions. ... Read full article

The California company will pay nearly $3 million to address claims it failed to pay employees for overtime. ... Read full article

The banking companies agreed to terminate their planned merger after regulators withheld approval. The snag is tied to a previously disclosed issue with Hope's 2016 financial results. ... Read full article

Jeffrey Seabold, Banc of California’s former vice chairman, alleges that he and ex-CEO Steven Sugarman were scapegoats for inappropriate behavior by certain directors and that the company manipulated its first-quarter earnings. ... Read full article

Wells Fargo forced borrowers to pay millions of dollars in fees to extend interest rate locks that expired due to the bank's delays in processing mortgage applications, a lawsuit claims. ... Read full article

The company will pay $51 million for Bank of Napa, adding two branches and nearly $250 million in assets. ... Read full article

Doug Bowers said the company has moved beyond past issues, including corporate governance shortcomings and the abrupt departure of his predecessor, and is ready to bring in more loans and core deposits. ... Read full article

A reserve release helped offset lower net interest income, reflecting the California company's efforts to exit businesses that hurt its bottom line last year. ... Read full article

While industry consolidation remains slow compared with previous years, certain regions are humming along with strong volume and improved pricing. Here’s a look at each region based on June 30 data from KBW and S&P Global Market Intelligence. ... Read full article

Several RBB Bancorp executives and directors, including CEO Alan Thian, will also sell a significant number of shares when the Los Angeles company goes public. ... Read full article

The nation’s largest state set out to bring a once-illicit industry into the financial mainstream but is now running into a Washington, D.C.-size barrier. ... Read full article

Adding Community 1st Bank would help it expand in northern California. ... Read full article

The city has spent more than a decade working with nonprofits and banks to encourage people to open deposit accounts. Outreach and special products have lowered the unbanked rate in San Francisco to 2.1% in 2015 from 5.9% in 2011. ... Read full article

Lending and managing money for recording artists and labels can be a profitable niche. But volatile income streams, intellectual property challenges and business model upheaval can trip up the inexperienced. ... Read full article

The California Reinvestment Coalition is pressing regulators to reject the $700 million bank merger unless PacWest commits more resources to underserved groups in Southern California. ... Read full article

Auditors performing a review of Ocwen Financial padded timesheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services. ... Read full article

The bank also announced that it has recruited a BancWest executive to replace Michael Descheneaux as CFO. ... Read full article