Closing the deal.There have been several big deals among BE 100s banks over the last few years. Here are some of the major transactions: * October October: see month. 2000: Boston Bank of Commerce (No. 15 on the 2000 BE BANKS list with $137.7 million in assets) and Los Angeles-based Founders National Bank (No. 19 on the 2000 BE BANKS list with $105.9 million in assets) sign a definitive agreement to merge and create the first national minority banking platform controlled and managed by African Americans African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. . The combined entity has assets totaling more than $260 million. * July 2002: Boston Bank of Commerce (No. 6 on the 2002 BE BANKS list with $261.7 million in assets) signs a definitive agreement to acquire Los Angeles-based Family Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. (No. 9 on the 2002 BE BANKS list with $196.6 million in assets) in a cash transaction The combined company is later renamed OneUnited Bank. * February 2003: Atlanta-based Citizens Trust Bank (No. 3 on the 2002 BE BANKS list with $292.4 million in assets) completes the acquisition of CFS CFS abbr. chronic fatigue syndrome CFS, n.pr See syndrome, chronic fatigue. CFS Chronic fatigue syndrome, see there Bancshares Inc. in Birmingham, Alabama Birmingham (pronounced [ˈbɝmɪŋˌhæm]) is the largest city in the U.S. state of Alabama and is the county seat of Jefferson County. , (No. 19 on the 2002 BE BANKS list with $107 million in assets) for $92 million in cash. |
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