Opes Advisors has 39 locations in California, Oregon and Washington. The firm generated $3 billion in mortgages last year.
The California company will lease space on three floors of the building, while keeping a branch at the location.
The cuts punctuate the end to a rapid expansion period at the company, which now seems to be prioritizing profitability over growth.
The company also seems to be shifting the narrative to operational performance after addressing claims of questionable insider dealings.
A strong economy, large numbers of small businesses and a shakeout from industry consolidation are making the area between Los Angeles and San Diego appealing to bank organizers.
The OCC wants California First to implement “prudent concentration limits” on leveraged loans.
The California bank has hired an outside firm to review its loans and will de-emphasize health care lending.
Loans, deposits and revenue all rose solidly compared to a year earlier.
Income from derivative fees climbs 47%.
Heritage Oaks in California ended talks with an unnamed institution when it couldn't get a response on a regulatory concern.
