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Southwest Bancorp

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BUSINESS
March 12, 1987
Vista-based Southwest Bancorp, the holding company for Southwest Bank, will offer 11 shares of its common stock for each of its 108,710 shares of preferred stock in an offering that will begin today and continue until April 17. Southwest completed a similar stock swap offering just over two years ago, when it offered seven shares of common for each of its 200,000 then-outstanding shares. That offering attracted 91,000 shares of preferred stock.
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BUSINESS
April 5, 1986 | GREG JOHNSON, Times Staff Writer
Given the expected fireworks, Southwest Bancorp's annual shareholders meeting Friday ended rather tamely. But dissident shareholder John Blick III ensured that his fellow shareholders at least knew of his allegations--contained in a lawsuit filed recently--that Southwest officers committed fraud, breached their fiduciary responsibility and were negligent in connection with a 1984 7-for-1, common-for-preferred stock swap.
BUSINESS
July 16, 1985 | BILL RITTER, San Diego County Business Editor
There must be times when Southwest Bancorp officials figure they can't win for losing. Take last week, when, in the span of four days, the Vista-based holding company for Southwest Bank happily reported record earnings of $604,000 for the six months ended June 30 and proudly announced that it had received final approval to be listed on the American Stock Exchange.
BUSINESS
December 23, 1988 | GREG JOHNSON, Times Staff Writer
Southwest Bancorp of Vista, the parent of Southwest Bank, Thursday rejected takeover bids from Wells Fargo and Security Pacific. Southwest President Frank Mercardante said both of the big banking companies viewed an acquisition of Southwest, with $375 million in assets and 14 branch offices, as an attractive way to expand their presence in fast-growing San Diego County.
BUSINESS
July 31, 1986
Southwest Bancorp, based in San Diego County, said it has agreed to acquire Pacific Western National Bank in Pico Rivera in an exchange of stock. Southwest Bancorp has about $300 million in assets, while Pacific Western's assets total about $46 million. Southwest will pay the equivalent of 1 1/2-times book value for Pacific Western's shares, but the overall cost of the deal was not disclosed. The acquisition requires regulatory and shareholder approvals.
BUSINESS
April 25, 1989
The Dow Jones Industrial Average reached a post-crash high last week, confirming new highs recorded previously by the transportation average and the NASDAQ composite, according to Irving Katz, director of research for Thomas Green/San Diego Securities. "Ten of the 68 San Diego stocks we chart joined in the celebration and made new highs," Katz said Monday. Those new highs were by Humphrey, at $6, up from $3.25 at year's-end; Christiana Cos., at $10.625, up from $6.35; Home Fed Corp.
BUSINESS
April 21, 1989
Southwest Bancorp: The parent of Vista-based Southwest Bank reported a first-quarter profit of $460,000, compared with a loss of $556,000 for the comparable period of the prior year. Southwest's total assets at March 31 were $363.4 million, up from $355.2 million at the end of last year's first quarter. Loans rose to $240.2 million from $239.6 million and deposits rose to $327.5 million from $322.4 million. On Feb. 17, Southwest entered into an agreement with Security Pacific Corp. by which Southwest will be acquired by Los Angeles-based banking company.
BUSINESS
December 23, 1988 | GREG JOHNSON, Times Staff Writer
Southwest Bancorp of Vista, the parent of Southwest Bank, Thursday rejected takeover bids from Wells Fargo and Security Pacific. Southwest President Frank Mercardante said both of the big banking companies viewed an acquisition of Southwest, with $375 million in assets and 14 branch offices, as an attractive way to expand their presence in fast-growing San Diego County.
BUSINESS
December 23, 1988 | GREG JOHNSON, Times Staff Writer
Southwest Bancorp of Vista, the parent of Southwest Bank, Thursday rejected takeover bids from Wells Fargo and Security Pacific. Southwest President Frank Mercardante said both of the big banking companies viewed an acquisition of Southwest, with $375 million in assets and 14 branch offices, as an attractive way to expand their presence in fast-growing San Diego County.
BUSINESS
April 21, 1989
Southwest Bancorp: The parent of Vista-based Southwest Bank reported a first-quarter profit of $460,000, compared with a loss of $556,000 for the comparable period of the prior year. Southwest's total assets at March 31 were $363.4 million, up from $355.2 million at the end of last year's first quarter. Loans rose to $240.2 million from $239.6 million and deposits rose to $327.5 million from $322.4 million. On Feb. 17, Southwest entered into an agreement with Security Pacific Corp. by which Southwest will be acquired by Los Angeles-based banking company.
BUSINESS
December 9, 1988 | GREG JOHNSON, Times Staff Writer
Wells Fargo, which has been expanding its presence in Southern California through bank acquisitions, has made a surprise bid for Southwest Bancorp, the Vista-based parent company of Southwest Bank. Southwest President Frank Mercardante, who disclosed the offer Thursday, said it had been received Tuesday. He would not disclose the price that Wells Fargo offered, and a spokeswoman for the big San Francisco bank holding company declined to comment.
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