CALIFORNIA | LOCAL
July 16, 2013 |
Former Los Angeles Mayor Antonio Villaraigosa is making his first foray into the private sector, taking a post as a strategic advisor at the Banc of California - an aggressively expanding community bank led by specialists in high finance. Villaraigosa's part-time position advising the bank's chief executive, Steven Sugarman, as well as its board, will allow him to continue pursuing speaking engagements, an affiliation with a university or think tank, and a potential run for governor when Gov. Jerry Brown steps aside . The former mayor declined to reveal his salary or how his compensation would be structured.
June 14, 2013 |
WASHINGTON - The refinancing boom may be cooling down, but the move to shorter mortgages - especially 10-year loans among pre-retirees - appears to be accelerating. Some community banks say 10-year mortgages, once an insignificant niche option, are accounting for increasingly large chunks of their business. For example, Rockville Bank in South Windsor, Conn., reports that 10-year loans represented a surprising one-fifth of its total residential mortgage originations in dollar terms last year.
August 5, 2012 |
He's the ultimate insider at the ultimate insider's bank, the place Frank Sinatra turned to for ransom money when his son Frank Jr. was kidnapped. Michael Jackson partied in his vault. Bram Goldsmith, 89, has seen it all at City National Bank. The son-in-law of one of the founders, he took the reins of the "bank to the stars" in the mid-1970s and remains chairman of the parent company to this day. Launched in 1954, City National's 58-year run stands out in an industry where small banks tend to get gobbled by larger rivals.
April 4, 2012 |
Defying much of the state party establishment, Democrats in Maryland's 6 th Congressional District chose businessman John Delaney to challenge Republican Rep. Roscoe Bartlett this fall in a district that could help the party regain control of the House of Representatives. Delaney, who was endorsed by former President Bill Clinton and the Washington Post, defeated state Sen. Rob Garagiola, a rising star in Annapolis who had the backing of Gov. Martin O'Malley and a number of other prominent Maryland Democrats.
September 10, 2011 |
How do you make a bank that has focused on Latinos more popular among other potential customers? You change its name — say from Banco Popular to Popular Community Bank. Puerto Rico's largest bank is Anglicizing its name outside its home turf. It switched to Popular Community Bank signs last month at its 24 branches in Southern California, where the 117-year-old institution opened its first office in 1975. "It was taking a lot more effort to get new customers who were not Hispanic to bank with us," said Manuel Chinea, senior vice president of retail operations for Banco Popular North America.
September 1, 2011 |
Beach Business Bank, a Manhattan Beach community bank best known for lending to physicians across the country, is being acquired in a $37.2-million deal by a San Diego County-based community bank. The buyer, First PacTrust Bancorp, raised $28 million in fresh capital this summer and is expanding into Los Angeles and Orange counties. The Chula Vista-based parent of Pacific Trust Bank agreed in June to buy Cerritos-based Gateway Business Bank, a three-branch institution with a large home-lending arm, for $17 million.