July 10, 2002 |
Fidelity Federal Bank, a Glendale savings and loan, will pay $1.6 million to settle a Justice Department lawsuit alleging it violated the Equal Credit Opportunity Act by discriminating against sub-prime credit card customers who were Latino or on welfare, the government said. Third parties marketed the credit cards during the 1990s to high-risk borrowers in New York, Mississippi and Alabama, Fidelity President Greg Mitchell said. He said FBOP Corp., an Oak Park, Ill.
February 8, 1996 |
CalFed to Sell San Diego Branches: The subsidiary of California Federal Bancorp said that selling the six branches will help it concentrate on its core markets in the Los Angeles and San Francisco areas and Nevada. The branches, with $380 million in deposits, will be sold to Regency Savings Bank, a subsidiary of FBOP Corp. in Oak Park, Ill. Terms of the sale were not disclosed.
August 8, 2001 |
PBOC Holdings Inc., the Los Angeles-based parent of People's Bank of California, settled lawsuits with stock owners who claimed they wouldn't get enough for their shares in a $200-million acquisition by FBOP Corp. FBOP, closely held parent of California National Bank, said in December that it would pay $10 a share for the 58% of PBOC it didn't already own. Stockholders filed four lawsuits in Delaware Chancery Court contending PBOC directors had a legal duty to get a better price for the shares.
June 23, 2001 |
First Banks America Inc., owner of First Bank & Trust, agreed to pay $52 million in cash for BYL Bancorp of Orange to expand its presence in Southern California. The deal values BYL at $18.50 a share. BYL stock closed at $15, up 35 cents, on Nasdaq, before the news was announced. BYL, which has assets of $278 million, said last month that it terminated a Nov. 1 agreement to be acquired by PBOC Holdings Inc. of Los Angeles, parent of People's Bank of California.
November 30, 2000 |
PBOC Holdings Inc., the parent company of People's Bank of California, said it's considering a sale of the company and has hired Keefe, Bruyette & Woods Inc. and Sandler O'Neill & Partners as advisors. The Los Angeles-based company said it's seeking ways to increase its share price. Chief Financial Officer Mike Holmes said a sale is one possibility but declined to specify other options. PBOC Holdings shares rose 19 cents to close at $8.94 on Nasdaq. The 52-week high was $9.94 on Jan. 18.
November 22, 2008 |
Federal regulators seized Downey Savings & Loan and PFF Bank & Trust late Friday, saying hundreds of millions of dollars in bad loans from the housing bubble had rendered the Southern California banking fixtures unsound. The banks' branches will continue operating as usual under the ownership of Minneapolis-based U.S. Bank, one of the country's largest banks, and no depositors will lose any money because of the failures, regulators said. Newport Beach-based Downey lost $547.