Los Angeles Business Journal

Reporter Richard Clough covers banking and finance industry for the Los Angeles Business Journal. Prior to joining the Business Journal, he covered politics from the Washington bureau of the Chicago Tribune. He graduated from UCLA in spring of 2006 with a degree in history. He joined the Business Journal in January 2007.

Every other week, the Banking and Finance column keeps up with the banking and finance industry industry in Los Angeles.

Rick can be reached at 323-549-5225, ext. 251 or by email: rclough@labusinessjournal.com.

Recent Stories

Niche Accent

Korean banks cast a big shadow in Los Angeles, but there’s a range of lower-profile institutions with other specific ethnic focus.

Former IndyMac Chief Settles with FDIC

Michael Perry, the former head of failed mortgage lender IndyMac Bank, has reached a settlement with the Federal Deposit Insurance Corp. in a lawsuit stemming from the institution’s 2008 failure.

Web Links

Social media pioneer David Bohnett got jump on Facebook’s online connections with his 1994-launched Geocities.

Social media pioneer David Bohnett remains friendly with the Internet industry as a venture capitalist.

Bank Makes Out Like Bandit After Sale Holdup

ACQUISITION: Delay pays off for First California as PacWest boosts bid.

The board of First California Financial Group Inc. took heat from shareholders for rejecting an acquisition offer earlier this year.

PacWest to Buy First California

Six months after PacWest Bancorp first offered to acquire First California Financial Group Inc., the bank holding companies have agreed to a deal. First California shares jumped more than 12 percent on Wednesday.

Record Run of No New Banks

Finance: Regulations, recession hinder openings.

Numbers don’t add up for launching a new bank in Los Angeles County.

Koreatown Bank Purchase May Be First in Series

Expansion: BBCN’s Seattle-area acquisition provides larger footprint.

Koreatown’s BBCN Bank announced a small acquisition last week, but that could be just the first step in a significant expansion.

BBCN to Buy Seattle Bank

BBCN Bancorp Inc., the Koreatown parent of BBCN Bank, said that it will acquire Pacific International Bancorp Inc., a small bank holding company in Seattle.

Bank Now Feels Heat in Democratic Treasurer Case

Former clients say First California aided Kinde Durkee’s scheme.

Former clients of Democratic campaign treasurer Kinde Durkee accuse First California Bank of abetting her alleged crimes.

Kaiser Federal Bank to Change Its Name

Kaiser Federal Bank announced plans to change its name to Simplicity Bank.

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