America Bancshares, Inc. and Sun Country Bank Announce the Completion of Acquisition of PriVest Bank.Business Editors UPLAND Upland, city (1990 pop. 63,374), San Bernardino co., S Calif., in a citrus-fruit region at the foot of the San Gabriel Mts.; inc. 1906. Citrus fruits and grapes are packed and processed in the city. Paint, orchard heaters, auto parts, and feed products are also made. , Calif.--(BUSINESS WIRE)--Jan. 8, 2004 America Bancshares, Inc. and Sun Country Bank today announced that they completed the previously announced acquisition of PriVest Bank, an $80 million asset bank with one branch located in Santa Ana, California Santa Ana is the most populous city in Orange County, California and is the county seat. It lies approximately 10 miles inland from the Pacific Ocean, on the largely seasonal Santa Ana River. . Dana R. Johnson, President and Chief Executive Officer of America Bancshares, stated "This is a tremendous opportunity for America Bancshares and Sun Country Bank in the Orange County market to build Sun Country's existing footprint." America Bancshares' current strategy has a goal of reaching total assets of $500 million in the short term and forming a larger bank capable of attaining a level in excess of $1 billion in 5 to 7 years. The larger scale will be achieved through a combination of internal growth and quality acquisitions. "This merger is very positive for PriVest Bank shareholders, clients and associates," stated Brian M. Riley, President and Chief Executive Officer of PriVest Bank. "This is an incredible opportunity to join a growing Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, franchise. Sun Country Bank's strong emphasis on superior client service closely mirrors our own philosophy. Enhanced financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and expanded resources that accrue from this partnership will strengthen our competitiveness and performance in the local markets." Adriana M. Boeka, President and Chief Executive Officer of Sun Country Bank, added: "Our business philosophy of providing excellent customer service and building personal relationships will be enhanced with the ability to offer trust services in addition to our traditional banking services. This is a marvelous opportunity to enter a highly attractive banking market, to acquire a bank with quality people, and to build Sun Country's existing footprint." Headquartered in Upland, California Upland is a city in San Bernardino County, California with an elevation of 1,242 feet. As of the 2000 census, the city had a total population of 68,393. It was incorporated on May 15, 1906, after previously being named North Ontario. , Sun Country Bank now operates 7 full service banking offices in the communities of Santa Ana Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Laguna Niguel, Mission Viejo Mission Vi·e·jo A community of southern California southeast of Irvine. It is mainly residential. Population: 96,300. , Upland, Lancaster, Victorville and Apple Valley. For additional information, please contact Mr. Dana R. Johnson, Chairman of the Board, Sun Country Bank, by telephone (651-459-6711) or my email (djohnson@macapital.net) or Ms. Adriana M. Boeka, President/CEO of Sun Country Bank, by phone (909-931-5973) or email (aboeka@suncountrybank.com.) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion