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Verdugo Banking Co

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BUSINESS
August 27, 1991
Verdugo Banking Co., a one-office bank in Glendale, has opened for business after raising $5.2 million in a recently completed initial offering of stock to the public. The bank's management includes several former managers of Valley National Bank, which was sold to Wells Fargo Bank in 1990. The bank said it was granted a state charter last month.
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BUSINESS
July 25, 1995
Verdugo Banking Co., an independent commercial bank located in Glendale, announced net income of $170,500 for the second quarter ending June 30, compared to $99,728 for the same quarter of 1994.
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BUSINESS
July 25, 1995
Verdugo Banking Co., an independent commercial bank located in Glendale, announced net income of $170,500 for the second quarter ending June 30, compared to $99,728 for the same quarter of 1994.
BUSINESS
August 27, 1991
Verdugo Banking Co., a one-office bank in Glendale, has opened for business after raising $5.2 million in a recently completed initial offering of stock to the public. The bank's management includes several former managers of Valley National Bank, which was sold to Wells Fargo Bank in 1990. The bank said it was granted a state charter last month.
CALIFORNIA | LOCAL
April 25, 2000
Verdugo Banking Co. in Glendale reported net earnings for the first quarter ended March 31 of $364,000, a 56% increase over net income of $233,000 for the first quarter of 1999. Assets rose 13% to $107 million from $94.5 million. Verdugo Banking Co. is an FDIC-insured independent commercial bank.
BUSINESS
March 7, 1995
Verdugo Banking Co., a single-branch bank based in Glendale, more than doubled its fourth-quarter earnings compared to a year ago. Verdugo reported a profit of $147,923 for the quarter that ended Dec. 31, compared to $72,400 in the same three-month period of 1993. The 3-year-old bank reported net income of $458,188 for 1994, more than triple the $133,674 profit the bank recorded in 1993.
NEWS
August 29, 1991
The Verdugo Banking Co., a new, locally owned and managed independent bank, has opened its main office on the ground floor of the recently completed tower at 500 N. Brand Blvd. in Glendale. The company, a full-service bank chartered by the state in July, will focus on commercial banking for individuals and businesses in Glendale, La Canada Flintridge, Burbank, Pasadena, South Pasadena and San Marino, said Raymond C. Dumser, president and chief executive officer.
BUSINESS
April 19, 2003 | Hanah Cho, Times Staff Writer
First Community Bancorp is continuing its expansion across Southern California. The Rancho Santa Fe, Calif.-based parent of Pacific Western National Bank has agreed to buy Verdugo Banking Co. in Glendale for about $34.9 million in cash. Under the deal announced Thursday, First Community would acquire all Verdugo common stock outstanding for $17.75 a share -- 42% more than its last closing price of $12.50 in over-the-counter trading. There are about 1.
CALIFORNIA | LOCAL
May 11, 1999 | D.B. YOUNG, SPECIAL TO THE TIMES
The departure of Great Western two years ago, coupled with the more recent purchase of Glendale Federal Bank by California Federal Bank, has reduced the number of Valley-based banks to about a dozen--many of them smaller, niche players. The two largest Valley-based institutions--Fidelity Federal Bank and Imperial Thrift & Loan, both of Glendale--are both largely mortgage lenders left over from an era when savings and loans dominated the region.
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