North Bay Business Journal

Circle Bank officer named in federal probe of S.F. bank

NOVATO — A senior officer at Circle Bank is one of 10 people alleged to have hidden the “deteriorating condition” of the former United Commercial Bank in San Francisco before it went into receivership in late 2009, according to an enforcement action filed Tuesday from the Federal Deposit Insurance Corp.

Bankers: Regulatory expansion will drive industry consolidation

SANTA ROSA — The high cost of complying with burgeoning regulation will be the cause of even more bank consolidation than has occurred as a result of the recession, experts say.

Bank of Marin credits some of 53% earnings boost to acquisition

NOVATO — Bank of Marin Bancorp reported first-quarter earnings increased 53 percent from a year before and 15 percent from the end of 2010. The acquisition of Charter Oak Bank of Napa in February played a significant part in the boost, according to the bank.

Bank of Marin consolidates Napa offices; St. Helena to close

NAPA – Bank of Marin is consolidating its Napa Valley offices, closing the St. Helena branch April 29.

Bank of Marin acquires Charter Oak

NOVATO, NAPA — Bank of Marin Bancorp (NASDAQ: BMRC) announced today that through its subsidiary, Bank of Marin, it has acquired certain assets and assumed certain liabilities of Napa-based Charter Oak Bank.

Regulators lift Sterling order

SPOKANE, Wash. — Sterling Financial Corporation, parent company of Sonoma Bank, today announced that the Federal Deposit Insurance Corporation and Washington Department of Financial Institutions lifted a cease and desist order put in place in October 2009 with Sterling Savings Bank.

Banking & Finance: Are regulators stifling local bank lending?

‘David suffering for Goliath’s sins;’ also, 2 in top Bauer rank There are two fewer locally based banks in the North Bay than there were at this time last year. Tamalpais Bank was shut down by the Federal Deposit Insurance Corp. and purchased by Union Bank. Napa Community Bank, previously under the parent company of Capitol Bancorp [...]

Regulators seize Tam Bank; Union Bank purchases deposits

SAN RAFAEL — The California Department of Financial Institutions closed Tamalpais Bank after business hours today and appointed the Federal Deposit Insurance Corp. as receiver. It’s the first closure of a locally based bank since the current economic recession began. The seven branches of Tamalpais Bank will reopen on Monday as branches of Union Bank.

Tamalpais Bancorp had $50 million loss provision

SAN RAFAEL — Tamalpais Bancorp, parent company for Tamalpais Bank, reported more than $50 million in its loan loss provision for 2009 compared with just more than $3 million for the year before, according to its 10-K annual report.

Tamalpais Bank sold $28.3 million in nonperforming loans

SAN RAFAEL — Tamalpais Bank completed the sale of $28.3 million in “substandard-performing and nonperforming loans” to an undisclosed third-party investor for $15.4 million, or a discount of 45.6 percent, according to a regulator filing today by the bank holding company, Tamalpais Bancorp.

Treasury says Sonoma Bank owner must raise $650 million

SPOKANE, WASH. — Sterling Financial Corp., owner of Sonoma Bank in Santa Rosa, today said it is in active negotiations with several private equity investors, its major creditors and its regulators about various strategic alternatives designed to put Sterling on a sound financial footing and to allow it to recapitalize and grow its business.

New FDIC directive gives Tam Bank deadline

SAN RAFAEL — The Federal Deposit Insurance Corp. issued Tamalpais Bank a directive on Feb. 19 requiring that within 30 days the bank either sell enough stock to be “adequately capitalized,” or accept an offer to be acquired by or combined with another institution.

Tamalpais Bancorp showed a $37.6 million loss in 2009

SAN RAFAEL – Tamalpais Bancorp, parent company for Tamalpais Bank, today reported a net loss for the fourth quarter of 2009 of $28.2 million. The net loss for the year was $37.6 million, compared with net income of $4.8 million reported in 2008. Total assets were reported at $629.7 million, down form $703.7 million at the end of 2008.

Tamalpais Bancorp merges wealth unit into CSI Capital

SAN RAFAEL — Tamalpais Bancorp said today that its wealth management unit will be merged into San Francisco-based CSI Capital Management Inc.

“The transaction is another step in our strategy to focus on core banking activities,” said Mark Garwood, chief executive officer and president of Tamalpais Bancorp, the holding company for Tamalpais Bank and Tamalpais Wealth Advisors.

Tamalpais Bancorp enters into agreement with the Federal Reserve Bank of San Francisco

SAN RAFAEL — Tamalpais Bancorp, parent company of Tamalpais Bank, is working out an agreement with the Federal Reserve Bank of San Francisco to help ensure compliance with a recent cease-and-desist order from the Federal Deposit Insurance Corp.

Tamalpais Bank sells off non-performing loans, takes a loss of $13 million

SAN RAFAEL — Tamalpais Bank has sold $37.4 million in nonperforming loans to an anonymous third party investor.

BANKING: Banking veterans in SBA, lending make moves

Also: Ex-Prudential executive joining Redwood Trust Inc.

Banking & Finance: Presidio Bank grows Santa Rosa office

Presidio Bank has expanded its North Bay offerings. Once only a loan production office, now the branch is fully equipped to take deposits and serve its corporate clients.