San Diego, Calif., August 1, 2018 ‐ Bank of Southern California, N.A., San Diego, California (OTC Pink: BCAL) announced today the completion of its acquisition of Americas United Bank, Glendale, California (OTC Pink: AUNB), effective July 31, 2018. Americas United Bank had total assets of approximately $231 million as of June 30, 2018.
Americas United Bank branches will begin operating as Bank of Southern California branches on August 1, 2018, with systems conversion scheduled in October 2018.
The acquisition of Americas United Bank provides Bank of Southern California with an entry into the vibrant Los Angeles market as the Bank continues its strategic expansion in the Southern California region. With the completion of the acquisition, the combined bank will have assets of approximately $720 million, and increases the number of Southern California branch locations to eleven.
“We are pleased to welcome Americas United Bank customers, employees, and shareholders to Bank of Southern California,” commented Nathan Rogge, President and Chief Executive Officer of Bank of Southern California. “This strategic acquisition provides us with a presence in Los Angeles County and a footprint that allows us to now serve four major metropolitan Southern California markets. Our long term goal is to build a community business bank in Southern California that supports the economic growth of businesses and the communities we serve,” concluded Rogge.