FOMC Statement Regarding Repurchase Operation

In accordance with the FOMC Directive issued July 31, 2019, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct an overnight repurchase agreement (repo) operation from 9:30 AM ET to 9:45 AM ET today, September 17, 2019, in order to help maintain the federal funds rate within the target range of 2 to 2-1/4 percent.

This repo operation will be conducted with Primary Dealers for up to an aggregate amount of $75 billion. Securities eligible as collateral in the repo include Treasury, agency debt, and agency mortgage-backed securities. Primary Dealers will be permitted to submit up to two propositions per security type. There will be a limit of $10 billion per proposition submitted in this operation. Propositions will be awarded based on their attractiveness relative to a benchmark rate for each collateral type, and are subject to a minimum bid rate of 2.10 percent.

Colleen Atkinson to Head California Bank of Commerce Professional Banking Division

Oakland, CA., June 29, 2018 — California BanCorp (OTCQX:CALB), the holding company for California Bank of Commerce, a San Francisco Bay Area business bank, today announced that industry veteran and former executive Colleen Atkinson will return as Executive Vice President to lead its new Professional Banking Division. The Professional Banking Division provides custom liquidity and credit solutions to clients in the legal, accounting, insurance and not-for-profit industries.

“We are very excited to welcome Colleen back to California Bank of Commerce to head up the Professional Banking Division,” said California Bank of Commerce President and CEO Steven E. Shelton. “She understands the importance of digging below the surface and truly understanding the challenges and needs of professional services firms to ensure California Bank of Commerce is their trusted advisory partner.”

Ms. Atkinson has more than 25 years of experience in corporate banking, with an emphasis in deposit and treasury services; debt financing; investment advisory and securities trading; and risk management and analytics. Most recently, she was a Senior Corporate Banking Manager at HSBC Bank USA, N.A. where she focused on mid-corporate banking. From 2012-2017, she served as a Senior Vice President for California Bank of Commerce. Continue reading

First Choice Bancorp Added to the Russell 3000 and Russell 2000 Indexes

https://www.firstchoicebankca.com/Portals/FirstChoiceBankCA/Images/logo.png

Cerritos, California, June 26, 2018 (Globe Newswire) — (Nasdaq Capital Markets: FCBP) – First Choice Bancorp, the holding company for First Choice Bank (the “Bank,” collectively, “First Choice”) announced it was added to the Russell 3000® Index and the Russell 2000® Index when Russell investments reconstituted its comprehensive set of U.S. and global equity indexes after closing on June 22, 2018.

“Being added to the Russell indexes is a milestone for First Choice, and we are happy to have earned this distinction,” said Robert Franko, President and CEO of First Choice.  “Inclusion in these market benchmarks is expected to raise our profile with institutional investors and support trading of our shares.”

Peter Hui, the Chairman of First Choice, stated, “We set ourselves on a path last year to achieve this honor. Our Board and all of our colleagues have worked very diligently to get to this position. From our founding in 2005 until today, we have always strived to do what is best for our shareholders, our clients and our employees.”

The Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. In the U.S. marketplace, almost all of the U.S. equity assets are benchmarked by the Russell 3000, representing more than $8.5 trillion. The Company will hold its membership until FTSE Russell reconstitutes its indexes in June 2019. Membership in the Russell indexes remains in place for one year and automatically provides inclusion in the appropriate Russell growth and value style indexes. FTSE Russell determines membership for these indexes primarily by objective, market-capitalization rankings. Continue reading