First Coastal Bancshares Completes Acquisition of American Independent Bank N.A.EL SEGUNDO, Calif.--(BUSINESS WIRE)--March 8, 1999--First Coastal Bancshares (FCB) (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:FCLA FCLA Florida Center for Library Automation FCLA Forensic Court Liaison Nurse ) of El Segundo Monday announced the completion of its acquisition of American Independent Bank N.A. of Gardena, Calif. The acquisition, structured as a cash purchase transaction, has resulted in the merger of American Independent Bank N.A. (AIB) with and into First Coastal Bank N.A., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of First Coastal Bancshares. The merger acquisition of AIB will add more than $36 million in assets to FCB, bringing its total assets to approximately $125 million. FCB's business strategy is to focus on providing financial services to small businesses, professionals and individuals in west Los Angeles
First Coastal Bancshares is a publicly held bank holding company traded under the symbol FCLA. |
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