-Pacwest to take over American Perspective Bank.
Global Banking News - 02 May 2012
Los Angeles-based PacWest Bancorp is to purchase American Perspective Bank.
San Luis Obispo-based American Perspective has terminated a purchase agreement with Umpqua Bank (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : UMPQ) and will pursue a sale agreement with PacWest Bancorp. It will pay a termination fee of USD USD
In currencies, this is the abbreviation for the U.S. Dollar.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.6 million to Umpqua Bank to go ahead with the new deal, which it described as an offer with a significant premium.
Mark Crawford, president and chief executive officer of American Perspective Bank, said, 'Pacific Western Bank is a strong, stable California bank with a meaningful presence in the Central Coast, including San Luis Obispo San Luis Obispo (săn l`ĭs ōbĭs`pō), city (1990 pop. 41,958), seat of San Luis Obispo co., S Calif., near San Luis Obispo Bay; inc. 1856. County. Our customers and employees will benefit greatly from the merger of our two organisations.''
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