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BUSINESS
May 19, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
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.
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BUSINESS
May 7, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
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.
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BUSINESS
July 21, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Wells Fargo & Co., continuing its yearlong bank buying spree, has agreed to pay at least $48 million to buy an Anaheim bank holding company and its two units, Citizens Bank of Costa Mesa and El Camino Bank in Anaheim, officials for the two parties said Friday. The purchase price of Citizens Holdings can go up to $50.
BUSINESS
December 19, 1990 | James S. Granelli; Times staff writer
Top executives at Citizens Bank of Costa Mesa and El Camino Bank in Anaheim may find themselves out of work Jan. 1 when Wells Fargo Bank completes its purchase of the banks. But they should be getting a generous financial cushion to land on while they search for jobs. The executives will receive severance pay from the banks' parent company, Citizens Holdings in Anaheim, equal to their salaries for six months to more than a year, said Stanley Pawlowski, El Camino's chairman.
BUSINESS
February 25, 1988 | JAMES S. GRANELLI, Times Staff Writer
Federal regulators have approved the $16.3-million cash acquisition of El Camino Bancorp in Anaheim by Citizens Holdings in Costa Mesa, executives at both companies said Wednesday. The approval set the stage for a March 15 closing, said Paige V. Simpson of Citizens Holdings, parent of Citizens Bank of Costa Mesa. State regulators approved the merger in January, said Stanley Pawlowski, chairman of El Camino Bancorp, parent of El Camino Bank. Because the acquisition is occurring after the Oct.
BUSINESS
December 19, 1990 | James S. Granelli; Times staff writer
Top executives at Citizens Bank of Costa Mesa and El Camino Bank in Anaheim may find themselves out of work Jan. 1 when Wells Fargo Bank completes its purchase of the banks. But they should be getting a generous financial cushion to land on while they search for jobs. The executives will receive severance pay from the banks' parent company, Citizens Holdings in Anaheim, equal to their salaries for six months to more than a year, said Stanley Pawlowski, El Camino's chairman.
BUSINESS
November 15, 1988 | JAMES S. GRANELLI, Times Staff Writer
With his share of the proceeds from the March sale of El Camino Bank securely in hand, D.W. (Bill) McDermott will step down Friday as president of the Anaheim-based bank and make his second attempt at early retirement, it was announced Monday. McDermott, 61, will be replaced by Robert Ucciferri, executive vice president and chief administrative officer at the bank's sister institution, Citizens Bank of Costa Mesa. Both banks are owned by Citizens Holdings in Newport Beach.
BUSINESS
July 21, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
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.
BUSINESS
July 23, 1985
El Camino Bancorp, parent company of El Camino Bank of Anaheim, reported second quarter earnings of $291,000, virtually unchanged from the $290,000 reported for the same three-month period in 1984. For the six-month period ended June 30, however, the bank holding company reported a 69%increase in net earnings to $615,000 compared with $364,000 for the same period in 1984.
BUSINESS
July 21, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
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.
BUSINESS
July 21, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Wells Fargo & Co., continuing its yearlong bank buying spree, has agreed to pay at least $48 million to buy an Anaheim bank holding company and its two units, Citizens Bank of Costa Mesa and El Camino Bank in Anaheim, officials for the two parties said Friday. The purchase price of Citizens Holdings can go up to $50.
BUSINESS
May 19, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
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.
BUSINESS
November 15, 1988 | JAMES S. GRANELLI, Times Staff Writer
With his share of the proceeds from the March sale of El Camino Bank securely in hand, D.W. (Bill) McDermott will step down Friday as president of the Anaheim-based bank and make his second attempt at early retirement, it was announced Monday. McDermott, 61, will be replaced by Robert Ucciferri, executive vice president and chief administrative officer at the bank's sister institution, Citizens Bank of Costa Mesa. Both banks are owned by Citizens Holdings in Newport Beach.
BUSINESS
February 25, 1988 | JAMES S. GRANELLI, Times Staff Writer
Federal regulators have approved the $16.3-million cash acquisition of El Camino Bancorp in Anaheim by Citizens Holdings in Costa Mesa, executives at both companies said Wednesday. The approval set the stage for a March 15 closing, said Paige V. Simpson of Citizens Holdings, parent of Citizens Bank of Costa Mesa. State regulators approved the merger in January, said Stanley Pawlowski, chairman of El Camino Bancorp, parent of El Camino Bank. Because the acquisition is occurring after the Oct.
BUSINESS
July 31, 1987 | JAMES S. GRANELLI, Times Staff Writer
Two Orange County banks--El Camino in Anaheim and the troubled Bank of San Clemente--will be taken over by different investors in separate agreements reached Thursday. In a letter of intent, Citizens Holdings, the parent company of Citizens Bank of Costa Mesa, said it will pay $16.3 million in cash to acquire all the stock of El Camino Bancorp, the holding company of El Camino Bank.
BUSINESS
March 4, 1987 | JAMES S. GRANELLI, Times Staff Writer
Positioning themselves to fend off eventual competition from major out-of-state banks, three of Orange County's top performing banks said Tuesday that they have agreed in principle to merge in a cash-and-stock deal worth about $21.5 million. The deal would create the county's largest locally based independent bank, with five offices and $288.1 million in assets.
BUSINESS
July 31, 1987 | JAMES S. GRANELLI, Times Staff Writer
Two Orange County banks--El Camino in Anaheim and the troubled Bank of San Clemente--will be taken over by different investors in separate agreements reached Thursday. In a letter of intent, Citizens Holdings, the parent company of Citizens Bank of Costa Mesa, said it will pay $16.3 million in cash to acquire all the stock of El Camino Bancorp, the holding company of El Camino Bank.
BUSINESS
March 4, 1987 | JAMES S. GRANELLI, Times Staff Writer
Positioning themselves to fend off eventual competition from major out-of-state banks, three of Orange County's top performing banks said Tuesday that they have agreed in principle to merge in a cash-and-stock deal worth about $21.5 million. The deal would create the county's largest locally based independent bank, with five offices and $288.1 million in assets.
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