March 7 – LendingPoint, the company working to revolutionize access to credit, has announced a partnership with FinWise Bank that allows the company to offer its full suite of loan products to customers nationwide.
February 24 – Small-business owners are significantly more confident about the national economy compared to January 2016, according to results from the Union Bank annual Small Business Economic Survey. The 18th annual survey also found that hiring is on the rise, with more business owners planning to offer permanent full-time positions in 2017 while interest in contractors and temporary positions wanes.
February 14 – CIT Bank, N.A., (Member FDIC, Equal Housing Lender), and its Southern California retail bank division OneWest Bank, have provided a $100,000 grant to Junior Achievement (JA) of Southern California to support their mission to inspire and empower over 70,000 young people through financial literacy, workforce readiness and entrepreneurship education; all concepts that are reinforced through JA ‘s volunteer mentors, including employees from CIT, who lead students through JA Classroom programs, JA Job Shadow and JA Finance Park.
January 23 – Seeking to better align its international banking services with the customers they serve, Wells Fargo & Company has announced that its International Group will be integrated into other Wholesale Banking business lines, enhancing how they serve middle market, corporate and financial institution customers doing business globally.
January 16 – Community Bank recently added a $700,000 equity investment in Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) Class A stock. This is Community Bank’s second investment in Clearinghouse CDFI which enhances Clearinghouse CDFI’s ability to address unmet credit needs in distressed areas throughout California.
January 16 – Mechanics Bank has opened a new, state-of-the-art branch at Hilltop Mall in Richmond, Calif. “This new branch ushers in a new era for us in Richmond, and embodies our continued commitment to this community,” says Rauly Butler, Mechanics Bank Executive Vice President, and head of Retail Banking.
January 6 – Terrance A. (“Terry”) Shirey has been named president and CEO of Nevada State Bank, a division of ZB, N.A. He succeeds Dallas E. Haun, who has served as Nevada State Bank’s CEO over the course of the past decade. Mr. Haun will continue to serve as Nevada State Bank’s Chairman. Mr. Shirey joined Nevada State Bank in 2008 as its chief financial officer, and most recently has served as the bank’s president and chief operating officer.
By Toni Lapp, Senior Editor
January 1 — In November, nine states voted on the legalization of marijuana; ballot measures passed in eight of the states. Marijuana is now legal for recreational or medicinal use in 28 states and the District of Columbia. (more…)
December 12 – First Foundation Inc. (NASDAQ: FFWM), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, has announced the completion of the previously announced acquisition of two branches with approximately $180 million in deposits from Pacific Western Bank. The branches are located in Laguna Hills and Seal Beach, California.
December 8 – To further emphasize the importance of a comprehensive savings strategy in setting financial goals, Ally Bank, the direct banking subsidiary of Ally Financial Inc., has introduced a series of tools and content focused on helping consumers establish savings priorities and develop a strategy for their financial health through various life stages.