Bay View Capital Corp. announces completion of acquisition of EXXE Data Corp.SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--March 17, 1997--Bay View Capital Corp. (Bay View), the holding company for Bay View Federal Bank, California Thrift & Loan and Bay View Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. Corp., today announced the completion of the acquisition of EXXE Data Corp. (EXXE) and its wholly owned nationwide commercial finance subsidiary, Concord Growth Corp. (CGC CGC Canine Good Citizen (AKC Dog Title) CGC Commission Géologique du Canada (Geological Survey of Canada) CGC Confédération Générale des Cadres (French labor union) ). At the close of the transaction, EXXE became a stand-alone subsidiary of Bay View. The former holders of EXXE capital stock, warrants and options will receive an initial aggregate payment of $19.8 million and will be entitled to potential future payments, depending upon the financial performance of CGC, of up to $34 million. The acquisition will be accounted for as a purchase effective March 1, 1997. Results of operations of CGC will not have a significant impact on the consolidated results of operations of Bay View in the first quarter of 1997. Headquartered in San Mateo, the combined company has total assets of approximately $3 billion. CGC administrative offices are currently located in San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif., and it has 13 loan production/sales offices throughout the United States (10 outside California). California Thrift & Loan is headquartered in Covina, Calif., and operates 19 offices throughout California and the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . Bay View Federal Bank operates 26 full-service community banking centers throughout the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . CONTACT: Bay View Capital Corp., San Mateo David A. Heaberlin, 415/312-7272 http://www.bvfs.com |
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