Southern California Bancorp Announces Sale of Three Branches to Friendly Hills Bank
b"SAN DIEGO and WHITTIER, Calif., April 19, 2021 (GLOBE NEWSWIRE) -- Southern California Bancorp, (OTC Pink: BCAL), the holding company for Bank of Southern California, N.A., and Friendly Hills Bank (OTCBB: FHLB) jointly announce the signing of a definitive agreement whereby Friendly Hills Bank will acquire three Bank of Southern California branches.
- b"SAN DIEGO and WHITTIER, Calif., April 19, 2021 (GLOBE NEWSWIRE) -- Southern California Bancorp, (OTC Pink: BCAL), the holding company for Bank of Southern California, N.A., and Friendly Hills Bank (OTCBB: FHLB) jointly announce the signing of a definitive agreement whereby Friendly Hills Bank will acquire three Bank of Southern California branches.
- \xe2\x80\x9cThese three branches are more aligned to serve a consumer or small business banking model, rather than a commercial banking model.
- We thoughtfully executed the sale of these branches and are pleased to have found the right partner for our customers and employees in Friendly Hills Bank, a local community bank.\xe2\x80\x9d\n\xe2\x80\x9cThese offices and the communities which they serve are a strong fit with our local community bank model,\xe2\x80\x9d said Jeffrey K. Ball, Chief Executive Officer of Friendly Hills Bank.
- Davidson & Co. served as financial advisor and Duane Morris LLP served as legal counsel to Bank of Southern California.