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BUSINESS
February 26, 1987 | GREG JOHNSON, Times Staff Writer
The Bank of San Diego, which last week turned operating control over to Chairman James E. Brown, on Wednesday said that President and Chief Executive E. Lynn Caswell had resigned because of disagreements over the bank's future. Caswell, who became chief executive in 1984, lost his spot on Bank of San Diego's board of directors two weeks ago when BSD Bancorp, the bank's sole shareholder, elected a new slate of directors.
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BUSINESS
August 29, 2009 | E. Scott Reckard
Regulators shut down Affinity Bank of Ventura late Friday, saying its capital cushion against losses had been severely depleted by problems with construction loans and commercial mortgages. Affinity's 10 branches -- four in Ventura County, two in Los Angeles County, one in Orange County and three in Northern California -- are to reopen as branches of San Diego-based Pacific Western Bank. The Federal Deposit Insurance Corp. said Pacific Western had agreed to assume all of the deposits held by Affinity.
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BUSINESS
July 1, 1987 | GREG JOHNSON
Boyd A. Lindquist, formerly a vice president and Eastern region supervisor for Central Bancorporation Inc. of Denver, has been named president of Bank of San Diego, effective next Monday, BSD Bancorp Inc. Chairman James S. Brown said Tuesday. Lindquist will replace Brown, who served as interim president since February, when E. Lynn Caswell resigned as president because of disagreements over the bank's future. Caswell had been president since 1984.
BUSINESS
February 14, 1987 | GREG JOHNSON, Times Staff Writer
BSD Bancorp, which has been unable to stem the flow of red ink at its Bank of San Diego subsidiary, has elected a new board of directors following a "disagreement" over the bank's future, company officials said Friday. BSD Bancorp's board members pledged to "move quickly to make whatever additional changes are necessary to get this bank on a solid and profitable footing once again." Bank of San Diego, the largest of BSD Bancorp's six subsidiaries, reported a $985,000 net loss during 1986.
BUSINESS
June 19, 1992 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
The Bank of San Diego's parent company said it expects to report a "significant" loss for the second quarter ending this month, and that it will lay off an unspecified number of employees because of a consolidation to cut costs. BSD Bancorp. said the consolidation involves the merger of its four-branch American Valley Bank subsidiary based in El Cajon and its two-branch Coast Bank based in Long Beach into the Bank of San Diego, its main operation.
BUSINESS
October 30, 1993 | From Times Staff and Wire Reports
Bank of San Diego Seized: The state Banking Department seized the nine-branch bank, which has $300 million in assets and offices in San Diego County, Long Beach and Santa Ana. Losses of $24 million over the last two years rendered the bank nearly insolvent, said regulators, who had anticipated the seizure and arranged beforehand to sell Long Beach and Santa Ana branch deposits to Harbor Bank of Long Beach. Deposits in the seven San Diego branches have been acquired by Grossmont Bank of La Mesa.
BUSINESS
June 19, 1992 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
The Bank of San Diego's parent company said it expects to report a "significant" loss for the second quarter ending this month, and that it will lay off an unspecified number of employees because of a consolidation to cut costs. BSD Bancorp. said the consolidation involves the merger of its four-branch American Valley Bank subsidiary based in El Cajon and its two-branch Coast Bank based in Long Beach into the Bank of San Diego, its main operation.
BUSINESS
January 18, 1992
I am not going to write any new letters regarding Coach Dull Knox. I'll simply dig out the old ones and re-send them. JANN GATH Long Beach
BUSINESS
April 30, 1991 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
Mountains of capital, sound management and a clear business focus are important ingredients in succeeding at any business, especially in starting up a new bank. But patience too can be an imperative. Take First National Bank of San Diego, one of six San Diego County-based companies to make the annual Times 100 list, published today, of California's most profitable companies. The bank posted profits of $6.5 million in 1990 and $5.
BUSINESS
October 25, 1985
Milford D. Phillips Jr. has been named senior vice president of the Bank of San Diego. Also, the Bank of San Diego has appointed Eduard F. Loescher senior vice president/area manager and Richard Layer has been appointed vice president/manager of the Balboa and Ruffin office.
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