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BUSINESS
February 20, 1998 | Bloomberg News
First Security Corp. agreed to buy California State Bank for about $270 million, as the Salt Lake City-based bank expands in Southern California. West Covina-based California State Bank, which has assets of $849.2 million and 17 branches, will receive stock from First Security, which has assets of about $17.3 billion. Shareholders would receive 1.42 shares of First Security stock for each California State share. After a 50% First Security stock dividend payable on Feb.
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BUSINESS
August 26, 2010 | By E. Scott Reckard, Los Angeles Times
California United Bank, a 5-year-old community bank based in Encino, said Wednesday it would expand its Ventura County operations by acquiring business lender California Oaks State Bank of Thousand Oaks. Under the $17-million deal, shareholders of 12-year-old California Oaks would receive $11.35 a share, half in cash and half in stock. The transaction is expected to close in the fourth quarter, pending approval by regulators. Shares of thinly traded California Oaks soared $4, or 67%, to $10 in over-the-counter trading.
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BUSINESS
July 11, 1995
California State Bank, in a move to expand its Orange County operations, announced plans Monday to acquire La Habra-based Landmark Bancorp. for a combination of cash and stock worth nearly $36.8 million. Landmark operates six banking offices with more than $220 million in deposits. California State Bank has 14 banking offices, including facilities in Anaheim, Corona del Mar, Newport Beach and Orange. The Covina-based institution picked up three branches last year in two separate deals.
BUSINESS
July 21, 1998 | BARBARA MURPHY
California Oaks State Bank announced total assets of $17.28 million at the end of the second quarter, an increase of $6.5 million from the end of March. Bank officials said 1,400 accounts were originated since it opened for business Feb. 9. The bank had total deposits as of June 30 of $12.58 million, an increase of $6.8 million from the end of the first quarter. Gross loans outstanding as of June 30 were just under $5 million.
BUSINESS
March 21, 1996
California State Bank said its proposal to buy Landmark Bancorp and its Landmark Bank unit for $36.8 million has been approved by shareholders of both companies. The merger is expected to be completed in April. Tom Bishop will remain chairman and chief executive of California State Bank, and Eugene Bishop will continue as president. California State Bank has 14 banking offices with total assets of $490 million.
BUSINESS
November 4, 1995 | Times Staff and Wire Reports
Community Banks Plan Merger: Covina-based California State Bank will purchase Landmark Bancorp of La Habra in a cash and stock deal, according to a definitive agreement by the two companies. Landmark shareholders will receive $19.75 a share--$7.75 in cash plus $12 worth of California State stock, according to the announcement, which was made after the close of the markets. Landmark shares closed at $16.
BUSINESS
November 18, 1994 | James S. Granelli Times staff writer
Orange County, still struggling to join the economic recovery, remains a fertile area for bankers elsewhere. The latest financial institution to enter the county is California State Bank in Covina, which picked up three branches with two recent deals. The bank also hired veteran Orange County banker David T. Blankenhorn as its executive vice president in charge of bank administration.
BUSINESS
February 20, 1998 | Bloomberg News
First Security Corp. agreed to buy California State Bank for about $270 million, as the Salt Lake City-based bank expands in Southern California. West Covina-based California State Bank, which has assets of $849.2 million and 17 branches, will receive stock from First Security, which has assets of about $17.3 billion. Shareholders would receive 1.42 shares of First Security stock for each California State share. After a 50% First Security stock dividend payable on Feb.
BUSINESS
February 10, 1998 | BARBARA MURPHY
California Oaks State Bank, which is in the organizational stage, completed its initial stock offering by raising almost $5.7 million in less than five months. The money will be used to capitalize the Thousand Oaks bank. The grand opening of the bank, at 50 W. Hillcrest Drive, is scheduled for Feb. 18. Anthony D. Kourounis is president and chief executive officer.
BUSINESS
January 15, 1998
West Covina-based California State Bank posted fourth-quarter profit of $2.7 million, or 49 cents per share (diluted), compared with $2 million, or 37 cents per share (diluted), for the same period in 1996. . . . Cabletron Systems Inc. agreed to buy the 76% of Sunnyvale-based Yago Systems it doesn't already own for about $87.8 million in stock to acquire equipment that connects computer networks at high speeds. . . . Bay Networks Inc.
BUSINESS
July 1, 1997 | LEO SMITH, TIMES STAFF WRITER
People looking for First National Bank of Ventura were out of luck as of Monday, when the 10-year-old institution formally changed its name to Bank of Ventura. Although the name change may be subtle, the implications are far-reaching. The change was required when bank officials received government approval to convert from a federally chartered lending institution to a California state bank.
BUSINESS
March 21, 1996
California State Bank said its proposal to buy Landmark Bancorp and its Landmark Bank unit for $36.8 million has been approved by shareholders of both companies. The merger is expected to be completed in April. Tom Bishop will remain chairman and chief executive of California State Bank, and Eugene Bishop will continue as president. California State Bank has 14 banking offices with total assets of $490 million.
BUSINESS
November 4, 1995 | Times Staff and Wire Reports
Community Banks Plan Merger: Covina-based California State Bank will purchase Landmark Bancorp of La Habra in a cash and stock deal, according to a definitive agreement by the two companies. Landmark shareholders will receive $19.75 a share--$7.75 in cash plus $12 worth of California State stock, according to the announcement, which was made after the close of the markets. Landmark shares closed at $16.
BUSINESS
January 15, 1998
West Covina-based California State Bank posted fourth-quarter profit of $2.7 million, or 49 cents per share (diluted), compared with $2 million, or 37 cents per share (diluted), for the same period in 1996. . . . Cabletron Systems Inc. agreed to buy the 76% of Sunnyvale-based Yago Systems it doesn't already own for about $87.8 million in stock to acquire equipment that connects computer networks at high speeds. . . . Bay Networks Inc.
BUSINESS
July 11, 1995
California State Bank, in a move to expand its Orange County operations, announced plans Monday to acquire La Habra-based Landmark Bancorp. for a combination of cash and stock worth nearly $36.8 million. Landmark operates six banking offices with more than $220 million in deposits. California State Bank has 14 banking offices, including facilities in Anaheim, Corona del Mar, Newport Beach and Orange. The Covina-based institution picked up three branches last year in two separate deals.
BUSINESS
November 18, 1994 | James S. Granelli Times staff writer
Orange County, still struggling to join the economic recovery, remains a fertile area for bankers elsewhere. The latest financial institution to enter the county is California State Bank in Covina, which picked up three branches with two recent deals. The bank also hired veteran Orange County banker David T. Blankenhorn as its executive vice president in charge of bank administration.
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