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J M Desimone Associates Inc

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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.
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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
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.
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