BUSINESS
July 6, 2012
A list of Southern California banks that as of June 6 had not repaid all funds from the U.S. Treasury's Troubled Asset Relief Program, with missed quarterly dividend payments. Cathay General Bancorp (Cathay Bank) Headquarters: Los Angeles Assets: $10.6 billion Received: $258 million Dec. 5, 2008 Missed payments: None Status: Expects bank regulators to approve full repayment this year Comment: Chief Financial Officer Heng Chen: "We think our capital ratios are strong enough to repay.
BUSINESS
July 23, 2010 | By E. Scott Reckard, Los Angeles Times
Emerging from the grip of the financial crisis, City National Corp. said strong growth in deposits and improving credit quality helped its quarterly profit jump sixfold. The Los Angeles parent company of Southern California's largest bank said Thursday that it earned $41.3 million, or 78 cents a share, in the second quarter, compared with $6.8 million, or 2 cents a share, in the same period last year. Second-quarter revenue totaled $304.5 million, up 39% from the second quarter of 2009.
BUSINESS
July 20, 2009 | Tom Petruno
Two failed Southern California banks will reopen today under new owners, after the Federal Deposit Insurance Corp. took control of them late Friday. Vineyard Bank of Corona, which has 16 branches, was sold to California Bank & Trust of San Diego, the FDIC said. Separately, Temecula Valley Bank of Temecula and its 11 branches were sold to First Citizens Bank and Trust of Raleigh, N.C.
CALIFORNIA | LOCAL
August 17, 2000 | RICHARD WINTON, SPECIAL TO THE TIMES
They're called "Charlie's Angels," and they're the latest addition to the FBI's local Most Wanted list. Sometimes wearing breezy Hawaiian dresses and clogs, at other times in plain overalls or pants, they are three women who have fast become among the most notorious bank robbers in Southern California. Since April, the three have robbed 11 banks and credit unions in Los Angeles, Orange and Riverside counties, federal officials say.
BUSINESS
December 3, 1999 | EDMUND SANDERS, Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com
Matthew P. Wagner, who helped build Western Bancorp from scratch into a bank holding company with $2.5 billion in assets, has decided to leave the Newport Beach-based company, which was acquired last month by Minneapolis-based U.S. Bancorp. Several other executives also have left, including Western Chairman Hugh Smith, Chief Financial Officer Arnold Hahn and Mark H. Stuenkel, former president of Western's Southern California Bank. Such departures of top executives are common after bank mergers.
BUSINESS
November 28, 1996 | JAMES S. GRANELLI, TIMES STAFF WRITER
A major investor pushing for the sale of Southern California Bank said Wednesday that it will seek federal permission to buy more than 10% of the parent company's stock and may nominate an opposing slate of directors at the next annual meeting. Basswood Partners L.P., a Paramus, N.J., investment fund that already controls 9.75% of SC Bancorp, said in a filing with the Securities and Exchange Commission that it will take such steps as part of its effort to sell the Anaheim-based company.