Bank of Los Angeles shareholders approve merger with American West Bank.WEST HOLLYWOOD West Hollywood A community of southern California northeast of Beverly Hills. It is mainly residential. Population: 36,600. , Calif.--(BUSINESS WIRE)--Feb. 27, 1997--The shareholders of Bank of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. (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 :BKLA) voted to approve the pending merger with American West Bank at a special meeting held Feb. 16, 1997. Morry Burford, chairman of the board, announced that a majority of the shareholders approved the Agreement and Plan of Reorganization dated Oct. 22, 1996. Under the Agreement, which has been approved by both state and federal regulators, American West Bank will be merged with and into Bank of Los Angeles. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Burford, the Agreement calls for Bank of Los Angeles to issue one share of common stock for each outstanding share of American West Bank common stock. The merger will result in a combined bank with assets in excess of $190 million. The merger is anticipated to be consummated on or about March 31, 1997 and will result in Bank of Los Angeles having five offices: one in West Hollywood, two in Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. and one in each Encino and Glendale. The current President and Chief Executive Officer of American West Bank, John J. Feldman, will assume those same positions in the combined bank following the merger. Burford and Feldman agree that mid-sized community banks focused on customer service, community involvement and responsiveness to the marketplace and customer needs, will continue to have an important role in the 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, financial market. CONTACT: Bank of Los Angeles Morry Burford, 310/843-1455 |
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