San Diego-based Bank of Southern California has completed its acquisition of Americas United Bank, a Glendale bank.
The bank said the deal was finalized July 31.
As of June 30, Americas United had about $231 million in assets. Its acquisition increases Bank of Southern California's assets to about $720 million and its total branches in Southern California to 11.
Americas United branches began operating as Bank of Southern California branches Aug. 1.
Nathan Rogge, president and CEO of Bank of Southern California, called the acquisition a strategic one that provides the bank with a presence in Los Angeles and ability to serve the four major metropolitan markets of Southern California.
With the acquisition, Bank of Southern California, started in 2001, now operates branches in San Diego, Los Angeles and Riverside counties. It also has a production office in Orange County.
Bank of Southern California's board of directors added Adriana Boeka, formerly president and CEO of Americas United, as a non‐executive director.
The bank also announced it had hired Gaylin Anderson to head its Los Angeles expansion efforts. Anderson was most recently managing director of community banking for Santa Ana-based Banc of California.
Reach reporter Sarah de Crescenzo at firstname.lastname@example.org.