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July 11, 2003 | From Bloomberg News
Boston Private Financial Holdings Inc. agreed Thursday to buy First State Bancorp, which owns First State Bank of California, for about $26.6 million in cash and stock to expand in the Los Angeles area. Boston Private will pay 15% of the transaction in cash and 85% in stock, initially valued at about $18.38 a share, the Boston-based firm said in a statement after markets closed. That's a 12% premium to First Bank's closing share price Thursday of $16.35 in over-the-counter trading.
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BUSINESS
July 11, 2003 | From Bloomberg News
Boston Private Financial Holdings Inc. agreed Thursday to buy First State Bancorp, which owns First State Bank of California, for about $26.6 million in cash and stock to expand in the Los Angeles area. Boston Private will pay 15% of the transaction in cash and 85% in stock, initially valued at about $18.38 a share, the Boston-based firm said in a statement after markets closed. That's a 12% premium to First Bank's closing share price Thursday of $16.35 in over-the-counter trading.
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BUSINESS
September 27, 2003 | From Bloomberg News
Boston Private Financial Holdings Inc., a fund manager for wealthy investors that oversees $8.2 billion in assets, bought 20% of Bingham, Osborn & Scarborough to increase its money management business in California. Boston Private Financial paid $3 million for the stake and may acquire as much as 70% of closely held Bingham Osborn during the next five years, the company said. Bingham Osborn oversees $800 million for clients from offices in San Francisco and Menlo Park, Calif.
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