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BUSINESS
August 1, 1997 | JOHN O'DELL, TIMES STAFF WRITER
In its fourth transaction in nine months, Western Bancorp said Thursday that it will acquire Santa Monica Bank for $198.2 million, or $28 a share. Newport Beach-based Western agreed to pay a 14% premium over Santa Monica Bank's recent trading price, triggering a surge in the stock. Santa Monica shares rose $2.50 to close at $27 on the American Stock Exchange. Western's aggressive merger and acquisition policy reflects the current climate in banking.
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BUSINESS
November 12, 2000
To all those who wrote to complain about the results of Wells Fargo Bank being taken over by Norwest ["A Different Wells Fargo," Letters, Nov. 5], there is really a very simple answer. Find a small local bank and move your account there. With electronic funds transfers and the Internet, you will find most of the same services at a small bank that you found at a mega-bank. The difference is that the small bank will appreciate having your account, and their employees will reflect that appreciation in the way they serve you. U.S. Bank took over Santa Monica Bank--where I had been banking for 31 years--early this year.
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CALIFORNIA | LOCAL
December 1, 1999 | BOB POOL, TIMES STAFF WRITER
For two decades, the modest signs pasted on the back of Santa Monica's distinctive Big Blue Buses rarely failed to put a grin on motorists unlucky enough to be stuck behind them in traffic. Every month there was a new joke or witty one-liner that served as an offbeat advertisement for the local, family-owned Santa Monica Bank. "The name's Bond. Savings Bond," read one four years ago in a takeoff of a popular James Bond movie.
MAGAZINE
April 9, 2000 | Ellen Alperstein
At 4 in the afternoon, I'm talking to a First Federal Bank of California investment advisor about mutual funds. A woman walks by and drops a loaf of sliced white bread onto his desk. "Is that your daily bread?" I ask. Well, yeah. When local physician Bill Mortensen founded First Federal on the brink of the Depression in 1929, even people lucky enough to win a job at the Santa Monica bank sometimes didn't have enough to eat.
NEWS
August 7, 1997 | ROY RIVENBURG, TIMES STAFF WRITER
Usually when banks merge, people worry about branches closing, tellers getting laid off and other customer-service snafus. But last week's announcement that Santa Monica Bank is tying the knot with Newport Beach-based Western Bancorp raised a different question: What will happen to the hilarious ads that SMB places on Santa Monica city buses?
BUSINESS
January 28, 1998 | Dow Jones
Western Bancorp said Tuesday that it completed its acquisition of Santa Monica Bank for about $198.4 million in stock and cash. Western Bancorp said Santa Monica Bank will be merged into its Western Bank unit, which changed its name to Santa Monica Bank. Shareholders were given the choice to receive either $28 a share in cash or 0.875 Western Bancorp common shares for each Santa Monica Bank common share. Of the 7.
BUSINESS
March 11, 1988
Joe L. Walling has been elected chairman and chief executive of Santa Monica Bank. Walling succeeds Aubrey E. Austin Jr., who died. Walling will remain president while taking on the additional responsibilities.
BUSINESS
May 31, 1993 | From Times Staff and Wire Reports
Santa Monica Bank Under FDIC Order: The bank said it agreed to take certain actions to improve its performance as ordered by the Federal Deposit Insurance Corp. Among other things, the bank must reduce the number of construction loans, maintain certain capital levels and "immediately eliminate" certain problem loans. Santa Monica Bank, with assets of $751 million as of March 31, said it believes many of the order's items "have already been accomplished."
BUSINESS
August 1, 1997 | JOHN O'DELL, TIMES STAFF WRITER
In its fourth transaction in nine months, Western Bancorp said Thursday it will acquire Santa Monica Bank for $198.2 million, or $28 a share. Newport Beach-based Western agreed to pay a 14% premium over Santa Monica Bank's recent trading price, triggering a surge in the stock. Santa Monica shares rose $2.50 to close at $27 on the American Stock Exchange. Western's aggressive merger and acquisition policy reflects the current climate in banking.
CALIFORNIA | LOCAL
December 8, 1999
Regarding your article on the humorous one-liners that appear for Santa Monica Bank on the backs of Big Blue buses (Dec. 1), this great little campaign was originated in the mid-'70s by the late Paul Waddell, a top ad agency creative director for many years in Los Angeles. I'm sure that Paul, who left us early this year, appreciated the clever one-liners created by Pat Robertson for the past 15 years. GORDON HEARNE Encino
CALIFORNIA | LOCAL
December 1, 1999 | BOB POOL, TIMES STAFF WRITER
For two decades, the modest signs pasted on the back of Santa Monica's distinctive Big Blue Buses rarely failed to put a grin on motorists unlucky enough to be stuck behind them in traffic. Every month there was a new joke or witty one-liner that served as an offbeat advertisement for the local, family-owned Santa Monica Bank. "The name's Bond. Savings Bond," read one four years ago in a takeoff of a popular James Bond movie.
BUSINESS
November 12, 1999 | DEANNA WELCH, SPECIAL TO THE TIMES
ATM users were inconvenienced across Santa Monica Thursday as Bank of America and Wells Fargo blocked non-customers from using their 33 machines in the city. It was a new tactic in the battle over the city's ordinance banning certain surcharges at automated teller machines. Dan Kerman of Van Nuys, spending Thursday afternoon with his young son near Third Street Promenade, was surprised when a Wells Fargo ATM spat his California Federal Bank card back.
BUSINESS
January 28, 1998 | Dow Jones
Western Bancorp said Tuesday that it completed its acquisition of Santa Monica Bank for about $198.4 million in stock and cash. Western Bancorp said Santa Monica Bank will be merged into its Western Bank unit, which changed its name to Santa Monica Bank. Shareholders were given the choice to receive either $28 a share in cash or 0.875 Western Bancorp common shares for each Santa Monica Bank common share. Of the 7.
NEWS
August 7, 1997 | ROY RIVENBURG, TIMES STAFF WRITER
Usually when banks merge, people worry about branches closing, tellers getting laid off and other customer-service snafus. But last week's announcement that Santa Monica Bank is tying the knot with Newport Beach-based Western Bancorp raised a different question: What will happen to the hilarious ads that SMB places on Santa Monica city buses?
BUSINESS
August 1, 1997 | JOHN O'DELL, TIMES STAFF WRITER
In its fourth transaction in nine months, Western Bancorp said Thursday it will acquire Santa Monica Bank for $198.2 million, or $28 a share. Newport Beach-based Western agreed to pay a 14% premium over Santa Monica Bank's recent trading price, triggering a surge in the stock. Santa Monica shares rose $2.50 to close at $27 on the American Stock Exchange. Western's aggressive merger and acquisition policy reflects the current climate in banking.
BUSINESS
August 1, 1997 | JOHN O'DELL, TIMES STAFF WRITER
In its fourth transaction in nine months, Western Bancorp said Thursday that it will acquire Santa Monica Bank for $198.2 million, or $28 a share. Newport Beach-based Western agreed to pay a 14% premium over Santa Monica Bank's recent trading price, triggering a surge in the stock. Santa Monica shares rose $2.50 to close at $27 on the American Stock Exchange. Western's aggressive merger and acquisition policy reflects the current climate in banking.
CALIFORNIA | LOCAL
March 2, 1995
A Brink's guard was critically wounded Wednesday in a failed robbery attempt at a Santa Monica bank, police said. The guard, whose name was not released pending notification of relatives, was shot once in the chest during a gunfight with two men at a Bank of America branch near the Santa Monica Airport. Santa Monica police said the two gunmen and a third male suspect fled after the 9:40 a.m. shooting and are still at-large.
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