GLENDALE, Calif.--(BUSINESS WIRE)--Americas United Bank (OTCQB: AUNB) announced today that it has completed the acquisition of two branches from Banc of California, N.A., a wholly owned subsidiary of Banc of California, Inc. (NYSE: BANC). The two branches are located in Commerce, CA and Santa Fe Springs, CA, and will now operate under the Americas United Bank name.
Americas United Bank acquired approximately $50 million of deposits and $35 million of loans in the transaction, along with certain other assets related to the branches.
With the acquisition of these two branches, Americas United Bank now has approximately $216 million in assets and five branches in Los Angeles County, including its main branch in Glendale, and one each in Downey and Lancaster.
“On behalf of our Board of Directors and our entire staff, it’s my pleasure to welcome our new employees and valued clients to Americas United Bank,” said President and CEO, Adriana M. Boeka. “Our top priority continues to be consultative and relationship-based, and we look forward to serving the communities of Commerce and Santa Fe Springs.”
The new Commerce branch is located at 6001 E. Washington Boulevard; the new Santa Fe Springs branch is located at 10400 South Norwalk Boulevard. Both branches are easily accessed from Interstate 5. The branches are open from 9 a.m. to 5 p.m. Monday through Thursday, and from 9 a.m. to 6 p.m. on Friday. Customers of the Commerce and Santa Fe Springs branches can immediately take advantage of banking at any Americas United Bank location.
FinPro Capital Advisors, Inc. served as Americas United Bank’s financial advisor and King, Holmes, Paterno & Soriano, LLP, as legal counsel.
Information on products and services may be obtained by calling the branches or visiting www.aubank.com: Glendale (818) 637-7000; Commerce (323) 724-8801; Downey (562) 299-9920; Lancaster (661) 945-6955; Santa Fe Springs (562) 906-7220.
About Americas United Bank
Americas United Bank (OTCQB: AUNB) was formed as a commercial bank with a focused niche in the Hispanic marketplace. It was founded by a group of respected and successful business leaders primarily from the Hispanic community and was the second such formed bank in over thirty years. AUB operates as a full-service commercial bank that provides business and personal banking products and services. For more information on the Bank, please visit www.aubank.com
Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank’s business, and the intent, belief or current expectations of the Bank, its directors or its officers, are “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank’s performance and implementation of its business plans, loan performance, interest rates, and regulatory matters.