Printer Friendly

-Pacwest to take over American Perspective Bank.

Global Banking News-May 2, 2012--Pacwest to take over American Perspective Bank(C)2012 ENPublishing -

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: UMPQ) and will pursue a sale agreement with PacWest Bancorp. It will pay a termination fee of USD1.6 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 County. Our customers and employees will benefit greatly from the merger of our two organisations.''

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2012 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

 Reader Opinion




Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:May 2, 2012
Previous Article:-Citi director to chair USCIB.
Next Article:-Wells Fargo to charge checking fee.

Terms of use | Copyright © 2015 Farlex, Inc. | Feedback | For webmasters