SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 15 — SUBSEQUENT EVENTS

Dividend Payout

In October 2015, the Company’s Board of Directors declared a quarterly dividend of $0.20 per share on the Company’s common stock payable on November 16, 2015 to shareholders of record as of November 2, 2015.

Regulatory Matters

The Bank entered into a written agreement with the Federal Reserve Bank of San Francisco (“FRB”) on November 9, 2015 relating to certain deficiencies identified in its Bank Secrecy Act and Office of Foreign Assets Control compliance program.  The Bank is required to submit to the FRB a revised compliance program and to, among other things, retain an independent firm to conduct a historical review of certain higher risk customers and transactions.