North Bay Business Journal

Habitat for Humanity, banks, others collaborate on foreclosures

While building homes for low-income families remains a part of Habitat for Humanity’s mission in Sonoma County, local volunteers say they’ve found a cost-effective alternative in the current economy – purchasing and renovating foreclosed houses.

Luther Burbank Savings donates two-acre parcel for homeless housing

SANTA ROSA — Luther Burbank Savings, in collaboration with the Sonoma County Task Force for the Homelessness, has donated a house and two-acre parcel at 2621 Guerneville Road to Community Housing Sonoma County, which will use the property to develop affordable housing for the homeless.

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.

International group increases capital requirements for banks

SANTA ROSA — The Basel Committee on Banking Supervision, an international forum for standardization on bank rules, has approved increasing the risk-based ratio for financial institutions from the current 8 percent to about 10.5 percent over the next several years.

New Third Street Cinemas property owner plans upgrades

SANTA ROSA — A downtown Santa Rosa property once approved for 14 stories condominiums and shops before economic conditions made the project infeasible sold to a Berkeley-based property investor who plans exterior maintenance to the existing movie theater complex in the next five years.

Spotlight: Leaders in Commercial Banking in 2011

Following are many of the leading professionals in commercial lending across the North Bay. (Listed alphabetically by institution name)

Commercial real estate sees some key leases, but vacancies remain elevated

Sonoma County office vacancy rates decreased in the third quarter to 22.7 percent 13.7 million square feet from a peak of 24.8 percent at the end of last year and was about the same as it was in the fall of 2009, according to Keegan & Coppin.

Banking & Finance: Bank of Napa sets milestone; Summit reports $506,000 profit

Bank of Napa reported its first profitable quarter in the bank’s history with a net income in the second quarter of $57,000 compared to the second quarter loss of $136,000 in 2009.

Luther Burbank Savings to take ex-Traverso’s site

SANTA ROSA — Luther Burbank Savings, the largest Sonoma County-based financial institution with $3.5 billion in assets, is moving to the old Traverso’s Gourmet Foods site in downtown Santa Rosa, doubling the size of its current headquarters branch to 6,000 square feet.

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 [...]

Spotlight: Leaders in Commercial Banking

(Listed alphabetically by name)

Banking column: Officials say banks likely to take losses on $19.2 million in Carinalli loans

Banks will likely end up taking losses on a large portion or all of the $19.2 million in unsecured and under-secured loans made to long-time Sonoma County real estate investor Clem Carinalli.

Nine of the 14 financial institutions named in the recent U.S. Bankruptcy Court filings have unsecured loans and three are headquartered locally.