Business
First Interstate Bancorp’s proposed merger with First Bank System Inc. puts pressure on Wells Fargo & Co. to raise its bid for First Interstate or quickly find another marriage partner in the fast-consolidating banking industry, analysts said Monday.
Nov. 7, 1995
Seishichi Itoh, president and chief executive of California First Bank, is a man who knows his history.
March 15, 1987
California First Bank’s acquisition of Union Bank of Los Angeles will eliminate 640 jobs over two to three years, mostly in Southern California, a spokesman for the San Francisco-based bank said.
Oct. 4, 1988
A merger of First Interstate Bancorp and BankAmerica Corp. would almost surely result in hundreds of branch closings and thousands of job reductions in California and other states but would produce a giant banking firm that could be highly profitable through cost savings, banking experts said Tuesday.
Oct. 8, 1986
In an effort to boost the disappointing profitability of its California bank subsidiary, Los Angeles-based First Interstate Bancorp announced Tuesday a major reorganization that will result in the California bank splitting off its large corporate and foreign lending activities into a separate firm.
Jan. 16, 1985
In a move to improve its position in Northern California, First Interstate Bank of California said Thursday that it will buy two small banks in Sacramento and the east San Francisco Bay Area for $42 million.
Nov. 4, 1988
California
California First Bank said Monday that it plans to issue 12.6 million new shares of stock, including a public offering of slightly more than 3.1 million shares, to help finance its pending purchase of Union Bank in Los Angeles.
Sept. 27, 1988
First Interstate Bancorp, feeling the effects of the soft California economy and a continuing slide in the state’s real estate market, said Thursday that it is cutting its work force by 3,500, with as many as half of the layoffs expected in California.
Sept. 13, 1991
California First Bank’s acquisition of Union Bank of Los Angeles will result in the elimination of 640 jobs, mostly in Southern California, a spokesman for the San Francisco-based bank said Friday.
Oct. 1, 1988
The proposed acquisition of Union Bank in Los Angeles by a subsidiary of one of Japan’s leading banks is the latest chapter in a story about the changing financial industry in the United States.
Feb. 17, 1988