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 →
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 →
Bank of America hires new market president
This article is only available to Business Times subscribers Subscribers: LOG IN or REGISTER for complete digital access. Not a Subscriber? SUBSCRIBE for full access to our weekly newspaper, online edition and Book of Lists. Check the STATUS of your Subscription Account.
Regulation key to fintech’s future
This article is only available to Business Times subscribers Subscribers: LOG IN or REGISTER for complete digital access. Not a Subscriber? SUBSCRIBE for full access to our weekly newspaper, online edition and Book of Lists. Check the STATUS of your Subscription Account.
Regulatory agencies terminate Heritage Oaks Bancorp consent order
Heritage Oaks Bankcorp said Nov. 29 that state and federal regulatory agencies have terminated a consent order related to the Bank Secrecy Act and anti-money laundering programs at its Heritage Oaks Bank subsidiary. The Paso Robles-based bank is the largest in the region with $2 billion in assets. Heritage Oaks said the Federal Deposit Insurance Read More →
Wells Fargo economist says Trump will likely help economy
President-elect Donald Trump will likely have a positive impact on the regional and national economy in the short term in the form of tax cuts and ramping up defense spending, Wells Fargo Senior Economist Mark Vitner said. Trump claims he will reduce personal and corporate income taxes, which would theoretically spur investment in the U.S. Read More →
