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Citizens Bank

Wells Fargo & Co., continuing its yearlong bank-buying spree, has agreed to pay at least $48 million to purchase an Anaheim bank holding company and its two units, Citizens Bank of Costa Mesa and El Camino Bank in Anaheim, officials of both companies said Friday. The purchase price of Citizens Holdings could go up to $50.
May 13, 2011
A roundup of entertainment headlines for Friday: Ashton Kutcher is the new Charlie Sheen? On "Two and a Half Men," anyway. ( Los Angeles Times ) "American Idol" is almost over, but poor James Durbin won't be there to see it. ( Los Angeles Times ) The National Jukebox has logged 1 million page views and 250,000 streams in 48 hours. ( Los Angeles Times ) "The Dark Knight Rises" is the closest thing Hollywood can get to a sure thing, so maybe that's why Warner Bros.
January 10, 2012 | By E. Scott Reckard
Ninety-two U.S. banks and thrifts failed in 2011, down from 157 in 2010 and 140 in 2009. In a report this week, SNL Financial generated a series of charts that showed the number of failures were far greater during the savings-and-loan meltdown that began in the 1980s and extended into the early '90s. The assets of failed banks peaked in 2008, however. No surprise there: Among the institutions seized by regulators was Seattle's Washington Mutual Bank, the largest savings and loan in the nation with $307 billion in assets and the biggest bank ever to fail . WaMu is now part of JPMorgan Chase & Co. Another big failure that year was Southern California's IndyMac Bank, another savings and loan, which had $32 billion in assets.
Richard Pratt, the Australian industrialist who once planned on turning his holdings in two Orange County banks into a $1-billion banking chain along the Southern California coast, has instead put the banks up for sale. Six to 10 institutions, including Wells Fargo Bank, are negotiating for the acquisition of Citizens Bank of Costa Mesa and El Camino Bank in Anaheim, two of the larger and well-operated banks in the county.
June 25, 1988 | JAMES S. GRANELLI, Times Staff Writer
The very name and title--Paige V. Simpson, bank president--conjure up the image of an Oxford-educated financier, but the blunt-speaking man from the small town of Atwood, Kan., never even graduated from college. Simpson, however, has worked his way up from messenger boy to bank president during his 50-year career. In the process, he has become the dean of Orange County banking. More than ever, his knowledge and experience are being put to the test.
May 16, 1985 | JEANNE BOYER, Times Staff Writer
The decision by Bankers Trust New York to drop its prime lending rate Wednesday to 10% was greeted by Orange County's independent banking communtity as a welcome event that should help improve the local economy and perk up lagging loan demand. But like their counterparts in major banking circles, the county's independent bankers are not racing to follow Bankers Trust's lead.
January 25, 2007 | P.J. Huffstutter, Times Staff Writer
HOW can a bank lose in a town like this? There's a beautiful lake nearby that attracts hordes of boaters in the summer, a bounty of inexpensive land and loads of frugal people -- whose forefathers were so cheap that for nearly a century the town has been known as Tightwad. The residents here -- all 63 of them -- take that name as a badge of honor. "I'm proud to be a Tightwadian," said Tom Skaggs, 72, the town's first mayor and a former member of the volunteer fire department.
Wells Fargo Bank has great hopes for its latest effort to woo small companies as customers. But the giant bank is finding that it's tough to hold onto the business accounts at two small Orange County banks that it bought earlier this year. The San Francisco bank, with $56.2 billion in assets, kicked off Small Business Week on Monday with an 11-week campaign to attract small companies with bonus coupons, new benefits, seminars and promises of great service.
January 14, 1989 | JAMES S. GRANELLI, Times Staff Writer
Orange County's 39 independent banks posted combined 9-month net income of $30.3 million, an amount that exceeds their earnings for all of 1987. Much of the 9-month income came in the third quarter when the continuing healthy economy coupled with slightly increased interest rates helped to pad the banks' vaults with $13.1 million in earnings.
February 17, 1988 | JAMES S. GRANELLI, Times Staff Writer
Orange County's 41 independent banks posted combined income of $16.9 million for the first nine months of 1987, setting the stage for their first profitable year since deregulation of the financial industry in 1982. The nine-month bank performance figures, which became available late last week, show that Orange County institutions outperformed their counterparts both statewide and nationwide. The state's banks recorded a composite loss of $910 million, which included $1.
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