July 28, 1987
Citizens Bank of Costa Mesa posted net income of $317,858 in the second quarter, compared with $256,702 in that period last year. It reported record net earnings of $919,737 in the first six months, 62.3% higher than the $556,824 it earned in the same period last year. Paige V. Simpson, the bank's president, predicted that the three-branch bank would post record net earnings for the full year. The bank had $113.7 million in assets at the end of June, a 12.2% increase from the $101.
February 25, 1988 |
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.
July 6, 1988 |
Orange County banker Wayne F. Miller has become the national president of one of the oldest business schools in the nation, the American Institute of Banking. Miller, president of Orange National Bank in Orange, is the first banker from Orange County to head the 88-year-old AIB. AIB, once the largest adult education program in the nation, has had to change its focus as more of the nation's bankers enter the industry with college degrees.
December 19, 1990 |
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.
April 20, 1986 |
The deans of Orange County's banks are J. B. Crowell, Ronald Rodgers and Paige V. Simpson. All three managed their banks in the era of heavy regulation and survived the pitfalls of deregulation and the depressed economy of the early 1980s. "The reason I'm still here is that we've had 12 straight years of profitability," said Crowell, 52, who has guided Eldorado Bank in Tustin since it was formed in May 1972. "Usually it's the losses that make for changes."
July 16, 1991 |
An investor group led by veteran Orange County bankers Stanley Pawlowski and Gary M. Wrigley has completed its $9.4-million purchase of Corporate Bank, Wrigley said Monday. The 40 investors, composed mainly of the small Santa Ana bank's customers, bought the 10-year-old bank from sole shareholder James A. Carter. Carter, an Anaheim developer, has been eager to get out of financial services industries that are regulated.