Business Bank Corporation

California United, 1st Enterprise Banks to Merge

The leaders of two local banks are aiming to shake up commercial lending in Southern California by combining into a sizable regional lender that promises to focus only on the needs of small and mid-size businesses.

The merger of 1st Enterprise Bank into California United Bank would create an institution with $2.2 billion in assets and $1.9 billion in deposits. Most of its loans would be for business operations or expansion, or mortgages on buildings occupied by the businesses.

The banks said the combined institution would be the 17th largest among Southern California's more than 100 commercial banks. It would have 11 branches in Los Angeles, Orange, Ventura and San...

EDITION: California | U.S. & World