Banking News

Banking News – including business banking, financial services, consumer finance, bank technology, and related banking industry news, issued by the Send2Press Newswire service.


Bank of Southern California N.A. and Americas United Bank Announce Agreement to Merge

SAN DIEGO, Calif., Feb. 22, 2018 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A., San Diego, Calif. (OTC Pink: BCAL / OTCMKTS:BCAL) and Americas United Bank, Glendale, Calif. (OTC Pink: AUNB), today announced the signing of a definitive agreement and plan of merger (the “Agreement”) whereby Americas United Bank will merge with and into Bank of Southern California. The merger is subject to customary closing conditions, including the receipt of all regulatory approvals and the approval of the shareholders of AUB and BCAL, and is expected to close in the third quarter of 2018.

Global DMS Launches EVO-Commercial, a Next-Generation Valuation Management Software Platform for Commercial Lending

SAN DIEGO, Calif., Feb. 12, 2018 (SEND2PRESS NEWSWIRE) — Global DMS, a leading provider of cloud-based valuation management software, announced that it launched EVO-Commercial(TM) (EVO-C) at the MBA’s CREF/Multifamily Housing Convention & Expo being held in San Diego from February 11 – 14. The new platform is 100 percent configurable, fully customizable, quick and easy to implement, eliminates numerous steps in the workflow process, lowers system maintenance costs and empowers end-users as well as management teams, among many other efficiency gains.

Bank of Southern California, N.A. Announces Fourth Quarter and Year-end 2017 Results

SAN DIEGO, Calif., Feb. 6, 2018 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,134,397 for the fourth quarter of 2017, compared to $1,088,043 for the third quarter of 2017 and $902,476 for the fourth quarter of 2016. For the year, net earnings were $3,964,692 in 2017, a 32% increase compared to $3,009,251 for 2016. Results for the fourth quarter and year ended December 2017 include a $200,000 increase in income tax expense due to recent Tax Reform legislation.

Bank of Southern California N.A. announces new SBA and Commercial Real Estate Lending Group Led by Steve Pollett

SAN DIEGO, Calif., Jan. 24, 2018 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), announced that Steve Pollett has joined the company as SVP, SBA and Commercial Real Estate Lending Group Manager. With more than 30 years’ experience in SBA and Commercial Real Estate lending, Pollett will be responsible for leading a team to provide financing to small and medium-sized businesses throughout the Southern California region. Prior to joining Bank of Southern California, Pollett was Senior Vice President and Group Manager of Commercial Lending with Plaza Bank.

Kathy Gonzales Named Senior Vice President, Director of Branch Banking for Bank of Southern California N.A.

SAN DIEGO, Calif., Jan. 19, 2018 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has appointed Kathy Gonzales as Senior Vice President, Director of Branch Banking. She will be responsible for supporting the Bank’s commitment to the customer experience by deepening customer relationships, and identifying opportunities to increase the bank’s market share.

Bank of Southern California N.A. Opens Orange County Office

SAN DIEGO, Calif., Jan. 3, 2018 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the opening of a production office in Orange County in the city of Orange, Calif. In addition, the bank said it is actively looking to expand into other Southern California markets, as the company continues to grow the banks franchise throughout the Southern California region.

Bank of Southern California NA Announces Third Quarter 2017 Results

SAN DIEGO, Calif., Nov. 17, 2017 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,088,043 for the third quarter of 2017, compared to $1,032,230 for the second quarter of 2017 and $642,186 for the third quarter of 2016. For the first nine months of 2017, net earnings were $2,830,295, compared to $2,106,775 for the first nine months of 2016.

Unity National Bank Pledges $100,000 Towards the Construction of New Tipp City Stadium

TIPP CITY, Ohio, Sept. 13, 2017 (SEND2PRESS NEWSWIRE) — The Tipp Pride Association Board of Directors announced today that the organization has received a $100,000 sponsorship from Unity National Bank for the construction of Tipp City’s new community stadium. The generous gift will lead ongoing fundraising to support stadium construction.

MEDIA ADVISORY: ReverseVision Experts Available to Discuss HUD Changes to HECM Reverse Mortgage Program

SAN DIEGO, Calif., Sept. 12, 2017 (SEND2PRESS NEWSWIRE) — The following ReverseVision experts, whose expertise on the Home Equity Conversion Mortgage (HECM) ranges from HUD guideline interpretation to market analysis to education, are available for interviews regarding HUD’s planned changes to the HECM program.

DIB Funding, Inc.’s DIBCOIN is the First Crypto Currency to be Aired on The FOX Business Network’s ‘New To The Street’

ROCKFORD, Mich., Aug. 22, 2017 (SEND2PRESS NEWSWIRE) — DIB Funding, Inc.’s DIBCOIN was highlighted on “New To The Street” on the Fox Business Network. CEO Adam Petty’s interview aired on Sunday, August 20 in which he shared the exciting vision, and business plan for DIB Funding and for its crypto-currency DIBCOIN. The show “New To The Street” has a six year history and DIB Funding, Inc., the developer of DIBCOIN, is the only crypto currency company that has ever been interviewed by them.

DIB Funding, Inc. Hires Top Crypto-Currency Developer Ambisafe to Create New Etherium Based DIBCoin 2.0, Also Announces Increased Conversion Rate

ROCKFORD, Mich., Aug. 15, 2017 (SEND2PRESS NEWSWIRE) — DIB Funding, Inc., the developer of DIBCoin, has hired Ambisafe, Inc. to create DIBCOIN 2.0 on the Etherium blockchain and to update our DIB Wallet. Public coin holders as of the exchange date will receive an exclusive exchange rate of two for one (i.e., 2 DIBCOIN 2.0 for every 1 DIBCOIN they hold). This will result in a 100-percent increase in the number of DIBCOIN held by each coin holder.

DIB Funding, Inc. takes first step in building the digital economy around DIBCOIN by launching its Affiliate Program through DIBNation.com

HOLLYWOOD, Fla., June 30, 2017 (SEND2PRESS NEWSWIRE) — DIB Funding, Inc. started DIB Nation to build a digital economy centered around DIBCOIN. The new custom website at DIBNation.com will be the hub of the DIB economy. The backbone of DIB Nation is our DIB Affiliate program.

Phil Rasori of MCT to Speak on Panel Session at Accounting for Mortgage Banking (AMB) User Conference on Topic of Hedge Accounting

SAN DIEGO, Calif., June 20, 2017 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing technology firm, announced that its COO, Phil Rasori, is scheduled to speak on a panel session hosted by Advantage Systems, Inc. at its third annual Accounting for Mortgage Banking (AMB) user conference.

DIB Funding, Inc. Signs Contract with FMW Media Corp to Produce Monthly Interviews on the Business Show, ‘New To The Street’

HOLLYWOOD, Fla., May 25, 2017 (SEND2PRESS NEWSWIRE) — DIB Funding, Inc. has signed a contract with FMW Media Corp., the producers of the business show “New To The Street.” FMW Media’s hosts will interview members of DIB Funding, Inc.’s management team monthly to discuss the ongoing developments of DIBCOIN. Their business show, “New to the Street,” airs on the Fox Business Network and ION TV with 95 million viewers

Mid America Mortgage Purchases eNote from First eClosing Transaction in North Carolina

ADDISON, Texas, May 25, 2017 (SEND2PRESS NEWSWIRE) — Mid America Mortgage, Inc. (Mid America) announced today it has purchased the eNote from North Carolina’s first eMortgage transaction. The transaction, which was completed entirely electronically on May 5, was a refinance for a property in Winston-Salem and was executed by Hickory-based North State Bank. Upon completion of the closing, Mid America was able to purchase the resulting eNote within one business day after receiving the final loan package.

Dr. Cheikh Mboup will Ensure that DIBCOIN is the First Cryptocurrency to Be Accepted Into 500 Retail Outlets within 12 Months

HOLLYWOOD, Fla., May 22, 2017 (SEND2PRESS NEWSWIRE) — DIB Funding, Inc. today announced the Company has signed a recognized entrepreneur with a keen eye on acquisitions and mergers, Dr. Cheikh Mboup, to the Company’s Advisory Board. He will immediately begin integrating DIBCOIN into the Point of Sale (POS) systems in up to 500 brick and mortar stores.

IDS Receives Certification from Fannie Mae, Freddie Mac for Its UCD XML File

SALT LAKE CITY, Utah, May 19, 2017 (SEND2PRESS NEWSWIRE) — Mortgage document preparation vendor International Document Services, Inc. (IDS), announced its Uniform Closing Dataset (UCD) XML file has been certified to meet all UCD requirements by both Fannie Mae and Freddie Mac ahead of the GSE’s September 25 deadline for UCD delivery. To have its UCD XML file certified by the GSEs, IDS underwent an extensive testing process to ensure the dataset was delivered in a GSE-acceptable format.

Jim Paul Joins Bank of Southern California N.A.

SAN DIEGO, Calif., April 27, 2017 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced that Jim Paul has joined the Bank as Vice President, Business Banking at the Del Mar Corporate office. He will primarily focus on building new client relationships for the bank.

Texas Capital Bank Implements DocMagic’s Total eClose Solution for eWarehouse Lending

TORRANCE, Calif., April 21, 2017 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that Texas Capital Bank has implemented its Total eClose(TM) solution. This implementation enables the bank to function as an eWarehouse lender. They can now accept and fund eNotes from its lender customers that want to drastically speed up the process of closing and selling loans.

The Mortgage Collaborative President and Vice Chairman David G. Kittle Issues Statement Supporting Mortgage Bankers Association GSE Reform Proposal

SAN DIEGO, Calif., April 20, 2017 (SEND2PRESS NEWSWIRE) — On behalf of its network of lenders, David G. Kittle, CMB, president and vice chairman, The Mortgage Collaborative, has issued the following statement on the Mortgage Bankers Association’s (MBA) release of its GSE Reform proposal, “GSE Reform: Creating a Sustainable, More Vibrant Secondary Mortgage Market”:

DIB Funding, Inc. Announces a Billion Dollar Liquidity Partnership with Digitas Bank to Launch Worldwide Distribution of ‘DIBCOIN’

HOLLYWOOD, Fla., April 17, 2017 (SEND2PRESS NEWSWIRE) — Today DIB Funding, Inc., the creators of the digital currency known as DIBCOIN, is proud to announce a billion-dollar liquidity partnership with Digitas Bank. This partnership will immediately give present and future DIBCOIN holders the ability to deposit and withdraw DIBCOIN and FIAT currency in a single transaction and with complete financial privacy.

Sunshine Capital Inc. Announces That The Company’s Use of ‘DIBCOIN’ Was Described as ‘Genius’ in a Forbes Article

HOLLYWOOD, Fla., April 7, 2017 (SEND2PRESS NEWSWIRE) — Sunshine Capital, Inc. (OTC-Pink:SCNP / OTC:SCNP) today announced that the Company’s business plan, e.g. using DIBCOIN to purchase assets, has been described as “Genius” by Forbes.com contributor Peter J. Reilly.

Melyn Acasio Joins Bank of Southern California, N.A.

SAN DIEGO, Calif., April 4, 2017 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced that Melyn Acasio has joined the Bank as Vice President, Client Relationship Manager at the Del Mar Corporate office. She will primarily focus on building new client relationships for the bank.

Sunshine Capital, Inc. Uses DIBCOIN to retire all Corporate Debt at a Rate of $1 Per Coin

HOLLYWOOD, Fla., March 31, 2017 (SEND2PRESS NEWSWIRE) — Sunshine Capital, Inc. (OTC-Pink:SCNP / OTC:SCNP) today announced that all corporate debts of the Company have been paid using DIBCOIN at a rate of $1 per DIBCOIN. The debts include the remaining convertible debt notes and management salaries for the next 12 months. Using DIBCOIN as a form of payment protects our shareholders’ ownership in the company from being diluted.

Sunshine Capital, Inc. Announces That DIBCOIN Has Been Approved to Trade on the Livecoin Exchange

HOLLYWOOD, Fla., March 27, 2017 (SEND2PRESS NEWSWIRE) — Sunshine Capital, Inc. (Pink Sheets: SCNP / OTC:SCNP) today announces that DIBCOIN, has been approved for trading on the Livecoin platform. DIBCOIN will commence trading on April 3, 2017 at 9:30 a.m. (EST/EDT).

Bank of England Mortgage Helps Customers Get More Out of Retirement with Home Equity Conversion Mortgages (HECM) and ReverseVision Technology

SAN DIEGO, Calif., March 22, 2017 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, today announced that Bank of England (BOE) Mortgage, a nationwide mortgage lender based in England, Arkansas, has selected RV Exchange (RVX) loan origination software (LOS) to support its growing Home Equity Conversion Mortgage (HECM) division.

Cloudvirga Introduces AccountChek Automated Asset Verification into Its intelligent Mortgage Platform

ATLANTA, Ga., March 22, 2017 (SEND2PRESS NEWSWIRE) — FormFree today announced that cloudvirga(SM), developer of the automated, cloud-based intelligent Mortgage Platform(R) (iMP), has selected AccountChek(TM) for automated asset verification. Cloudvirga’s custom integration of AccountChek into the iMP collects borrower account information early in the loan application process and offers a seamless asset verification experience.

LBA Ware Adds Matthew Marshall as Solutions Consultant

MACON, Ga., March 22, 2017 (SEND2PRESS NEWSWIRE) — LBA Ware(TM), a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced it has hired Matthew Marshall as a solutions consultant to support the firm’s sales efforts. In this role, Marshall will be responsible for articulating the value proposition of LBA Ware’s solutions.

Lender Price to Unveil the Lender Price Marketplace at 2017 NAMB East Association of Mortgage Professionals Convention

PASADENA, Calif., March 16, 2017 (SEND2PRESS NEWSWIRE) — Lender Price, the emerging leader in real-time, competitive mortgage analytics and product pricing & eligibility (PPE) solutions announced today that it is launching the Lender Price Marketplace at the 2017 NAMB East Association of Mortgage Professionals Convention exhibit in Atlanta, Georgia on March 16 – 18.

Record Attendance Expected at Texas Mortgage Bankers Association’s 101st Annual Convention

AUSTIN, Texas, March 13, 2017 (SEND2PRESS NEWSWIRE) — The Texas Mortgage Bankers Association (TMBA) announced today the location and dates of its 101st Annual Convention. This year’s conference – “Defining Our Future” – will be held at the Hyatt Regency Hill Country Resort and Spa in San Antonio, Texas on May 21 – 23, 2017.