Bank of Southern California completed its acquisition of Americas United Bank.
Americas United Bank had total assets of approximately $231 million as of June 30, 2018. Its branches began operating as Bank of Southern California branches on August 1, 2018, with a systems conversion scheduled for October 2018.
The acquisition of Americas United Bank provides Bank of Southern California with an entry into the Los Angeles market. The combined bank now has assets of approximately $720 million and eleven total branch locations.
“We are pleased to welcome Americas United Bank customers, employees, and shareholders to Bank of Southern California,” commented Nathan Rogge, president and CEO of Bank of Southern California. “This strategic acquisition 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.”
Adriana M. Boeka, the previous president and CEO of Americas United, joined Bank of Southern California’s board of directors as a non-executive director.
The bank also hired Gaylin Anderson as executive vice president, market executive to lead its expansion into Los Angeles. Anderson most recently served as managing director of Community Banking for Banc of California.
MJC Partners served as financial advisor and Duane Morris as legal counsel to Bank of Southern California in connection with the acquisition. Keefe, Bruyette & Woods served as financial advisor and King, Holmes, Paterno & Soriano as legal counsel to Americas United.
