By Jim Guy The Fresno Bee

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• FDIC sues big banks over mortgage securities

  FDIC sues big banks over mortgage securities

  The government has sued several big banks over toxic mortgage securities they issued that were bought by two small Illinois banks which failed in May 2009.

• Bank of Sierra parent to pay cash dividend

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  Porterville-based Sierra Bancorp will pay a cash dividend to its shareholders in May, the bank's board of directors announced Friday.

  The company is the parent company of Bank of the Sierra. The bank's board approved the quarterly dividend of 6 cents per share to be paid on May 17, to shareholders who own stock as of May 3.

  Bank representatives said this will be the 53rd consecutive quarter in which the company has paid a cash dividend to its shareholders.

• FDIC closes small bank in Alabama

  FDIC closes small bank in Alabama

  Federal regulators have seized a small bank in Alabama, bringing to 24 the number of U.S. banks that have failed so far this year.

• JPMorgan names vice chairman of investment banking

  JPMorgan names vice chairman of investment banking

  JPMorgan says that Joseph Walker is rejoining the bank as a vice chairman of investment banking.

• Security First Bank reports first-quarter profit

  Security First Bank reports first-quarter profit

  Security First Bank reported a first-quarter profit of $600,130, or 35 cents a share, a significant increase from 2011.

  The Fresno-based bank’s net income for the first quarter of 2011 was $181,047.

  The surge in profit came as the bank reported reductions in both assets and deposits between the first quarters of 2011 and 2012.