July 14, 1987
J. M. DeSimone Associates Inc., a Smithtown, N.Y.-based real estate and financial services company, has signed a letter of intent to buy the bank for about $3.6 million. DeSimone has an exclusive right until Friday to enter into a formal, binding agreement with the privately held bank. The bank posted a $424,000 profit for the first quarter of this year, said C. Ellis Porter, the bank's president and chief executive. Porter would not talk about the tentative sale. John C.
July 14, 1987 |
A New York real estate and financial services company has signed a letter of intent to buy the Bank of Yorba Linda for $3.5 million to $4 million. J.M. DeSimone Associates Inc. plans to move its headquarters to Orange County if it can complete the deal, said Joseph M. DeSimone, owner and president of the company based in Smithtown, N.Y. DeSimone has an exclusive right until July 24 to enter a formal, binding agreement with the bank.
November 3, 2000 |
The Bank of Yorba Linda, which has been under pressure from investors and regulators for months, agreed Thursday to be acquired in a $39-million cash deal by the operators of People's Bank of California. PBOC Holdings, the Los Angeles parent of People's Bank, agreed to pay $15 a share for BYL Bancorp in Orange, the holding company for the seven-branch Bank of Yorba Linda. The combined institution will have 31 branches in Southern California and $3.6 billion in assets.
May 23, 1997 |
Directors of the Bank of Yorba Linda on Thursday approved the formation of a bank holding company, which is expected to give the small community bank more flexibility in raising funds and acquiring other banks. A holding company would allow Bank of Yorba Linda to acquire another institution as a subsidiary, retaining its name and management, said Robert Ucciferri, the bank's president. Certain bank divisions also may become holding company subsidiaries, he said.
January 17, 1996 |
A pair of Orange County's longest-running independent banks said Tuesday they plan to combine in a $6-million deal that will turn Bank of Yorba Linda into a four-office, 100-employee institution. The agreement calls for Bank of Westminster to merge into Bank of Yorba Linda, adding its branch offices in Westminster and Huntington Beach to the north Orange County bank's offices in Yorba Linda and Costa Mesa.
October 6, 1987 |
A New York real estate and financial services company has backed out of a tentative deal to buy the Bank of Yorba Linda, saying it could make more money buying an ailing Texas bank instead. And Bank of Yorba Linda's chairman, John C. Coehlo, said Monday that he and other directors have decided to pull the small community bank off the market for now. J.M. DeSimone Associates Inc. notified Bank of Yorba Linda two weeks ago that it was canceling the deal, Coehlo said Monday. Joseph M.