OTS Approves WaMu Acquisition of Commercial Capital Bancorp, Inc.SEATTLE and IRVINE, Calif. -- Washington Mutual, Inc. (NYSE NYSE See: New York Stock Exchange :WM) and Commercial Capital Bancorp, Inc. (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 :CCBI CCBI Cleveland Community Building Initiative CCBI Central City Business Institute (Syracuse, NY) ) today announced that the Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. (OTS See Office of Thrift Supervision. ) has approved the acquisition of Commercial Capital Bancorp, Inc. CCBI stockholders overwhelmingly approved the acquisition during a special meeting held in late July. The transaction is expected to close on October 1. "With Commercial Capital shareholder and OTS approvals complete, we're set to welcome CCB CCB Calcium channel blocker, see there to the WaMu family," said Kerry Killinger, Washington Mutual chairman and chief executive officer. "This acquisition strengthens our already solid position in the attractive California multi-family and small commercial real estate lending markets. We look forward to offering the broader Washington Mutual product line to Commercial Capital's clients." "We're very excited that all of the approvals are complete and that our team will soon be joining WaMu," said Stephen H. Gordon, chairman and chief executive officer of Commercial Capital Bancorp, Inc. "We look forward to a smooth closing and our customers experiencing the benefits of being served by one of the preeminent banking organizations in the country." About Washington Mutual Washington Mutual, through its subsidiaries, is one of the nation's leading consumer and small business banks. At June 30, 2006, Washington Mutual and its subsidiaries had assets of $350.70 billion. The company has a history dating back to 1889 and its subsidiary banks currently operate more than 2,600 consumer and small business banking stores throughout the nation. Washington Mutual's press releases are available at http://newsroom.wamu.com. About Commercial Capital Bancorp, Inc. Commercial Capital Bancorp, Inc. is a diversified financial services company with $5.7 billion of total assets, at June 30, 2006. The Company provides depository and lending products and services under the Commercial Capital Bank brand name, and provides 1031 exchange services to income property investors nationwide under the TIMCOR Exchange Corporation, North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Exchange Company and Lawyers Asset Management brand names. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion