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March 2, 2000 | EDMUND SANDERS, Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com
First Bank, a mid-size bank in St. Louis with $5 billion in assets, has taken over the Diamond Bar mortgage division of BYL Bancorp, parent of Bank of Yorba Linda. First Bank will assume certain lease and funding obligations, but paid no additional consideration for the unit, which employs about 35 people, according to Mark Turkcan, president of First Bank Mortgage, a unit of First Bank. Officials at BYL Bancorp could not be reached for comment.
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BUSINESS
November 3, 2000 | EDMUND SANDERS, TIMES STAFF WRITER
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.
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BUSINESS
June 29, 1997
* H. Rhoads Martin Jr. has been named chairman of the Bank of Yorba Linda. He succeeds John C. Coelho, who is retiring. Coelho had been chairman since the company's start in 1980. Martin, president and chief executive of the Martin Cos., has been on the Bank of Yorba Linda board for six years. * Rein Kutsch Lojenga will assume the position of president, Europe and Central Asia for Irvine-based Fluor Daniel Inc. in October. He succeeds Carel Smeets, who has announced his retirement.
BUSINESS
March 2, 2000 | EDMUND SANDERS, Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com
First Bank, a mid-size bank in St. Louis with $5 billion in assets, has taken over the Diamond Bar mortgage division of BYL Bancorp, parent of Bank of Yorba Linda. First Bank will assume certain lease and funding obligations, but paid no additional consideration for the unit, which employs about 35 people, according to Mark Turkcan, president of First Bank Mortgage, a unit of First Bank. Officials at BYL Bancorp could not be reached for comment.
BUSINESS
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.
BUSINESS
July 14, 1987 | JAMES S. GRANELLI, Times Staff Writer
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.
BUSINESS
November 3, 2000 | EDMUND SANDERS, TIMES STAFF WRITER
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.
BUSINESS
May 23, 1997 | (James S. Granelli)
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.
BUSINESS
January 17, 1996 | JOHN O'DELL, TIMES STAFF WRITER
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.
BUSINESS
October 6, 1987 | JAMES S. GRANELLI, Times Staff Writer
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.
BUSINESS
May 3, 1998
BYL Bancorp: The holding company for the Bank of Yorba Linda said net income for the first quarter increased 38% to $606,000, or 36 cents a share, from $440,000, or 27 cents a share, for the 1997 first quarter. Total assets rose 36% to $181.5 million from $133.5 million.
BUSINESS
January 18, 1998
BYL Bancorp, parent company of the Bank of Yorba Linda, said fourth-quarter net income rose 76% to $680,000, or 40 cents a share, from $386,000, or 24 cents a share, for the same period in 1996. Net income for the year increased 75% to $2.1 million, or $1.28 a share, from $1.2 million, or $1.04 a share the previous year. The company's assets on Dec. 31 totaled $164.6 million, up 41% from $116.5 million a year ago.
BUSINESS
October 31, 1997
Bank of Yorba Linda shareholders have approved plans to form a holding company, BYL Bancorp, the bank said Thursday. The bank will become a unit of the holding company once the move is completed next month. Bank of Yorba Linda said its shares will become BYL Bancorp shares and continue trading on Nasdaq under the symbol BOYL.
BUSINESS
June 29, 1997
* H. Rhoads Martin Jr. has been named chairman of the Bank of Yorba Linda. He succeeds John C. Coelho, who is retiring. Coelho had been chairman since the company's start in 1980. Martin, president and chief executive of the Martin Cos., has been on the Bank of Yorba Linda board for six years. * Rein Kutsch Lojenga will assume the position of president, Europe and Central Asia for Irvine-based Fluor Daniel Inc. in October. He succeeds Carel Smeets, who has announced his retirement.
BUSINESS
May 3, 1998
BYL Bancorp: The holding company for the Bank of Yorba Linda said net income for the first quarter increased 38% to $606,000, or 36 cents a share, from $440,000, or 27 cents a share, for the 1997 first quarter. Total assets rose 36% to $181.5 million from $133.5 million.
BUSINESS
May 23, 1997 | (James S. Granelli)
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.
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