Dubroff: Merger writes next chapter for Central Coast banking
The $405 million sale of Heritage Oaks Bancorp to Pacific Premier Bancorp caught many experts by surprise. It is a transformative deal for the Irvine-based buyer, which will grow from $3.8 billion to $6 billion in assets when it closes next year. Pacific Premier will extend its franchise, leapfrogging past Los Angeles and heading deep Read More →
Rabobank exiting downtown for new spot on upper State
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Kurland stepping down but influence continues
PennyMac Financial’s Stanford Kurland has a habit of working in mysterious ways. A veteran of Countrywide Financial, he joined that company in the late 1970s and rose through the ranks to become its president, leaving without fanfare in 2006 — just as the excesses in the mortgage market were beginning to become apparent. In 2009, Read More →
Supervisor’s defense of SOAR misleading
By John Krist In her Dec. 2 commentary criticizing a Pacific Coast Business Times article about the effect of Save Open-space and Agricultural Resources on property values, Ventura County Supervisor Linda Parks accurately but selectively quotes from Farm Bureau of Ventura County’s Land Use Policy. Her cherry-picking of a single passage from this five-page document Read More →
Lumps of coal for employers’ holiday stockings
By Jonathan Light There is great uncertainty about whether proposed federal wage and hour laws are going to be implemented in 2017, but there are plenty of other things to worry about on the employment law front in California. Regardless of the federal implementation, we won’t see much federal effect in California. Here are just Read More →
PennyMac changes roles of several executives
PennyMac Mortgage Investment Trust in Westlake Village on Dec. 13 announced changes in the roles of several executive officers in conjunction with organizational changes announced by PennyMac Financial Services. Stanford L. Kurland, currently chairman and CEO, will assume the role of executive chairman. David A. Spector, currently executive managing director, president and chief operating officer, Read More →
Heritage Oaks Bancorp merging with Pacific Premier
Story updated at 11:30 a.m.: In a deal that will once again shake up the ranks of top banks in the region, Pacific Premier Bancorp of Irvine will acquire Heritage Oaks Bancorp for $405.6 million or $11.68 per share based on current values. The all-stock merger, announced before the markets opened on Dec. 13, will Read More →
