Westlake Bancorp Becomes United Community Bank
Westlake Bancorp changed its name to United Community Bank after completing its $600,000 acquisition of Brentwood Bank in Los Angeles.
Westlake Bancorp, based in Westlake Village, is the closely held parent of Westlake Thrift & Loan Assn. The thrift, with branches in Westlake Village and Costa Mesa, retained its name but became a unit of United Community Bank.
The one-branch Brentwood Bank also became part of United Community Bank and adopted that name.
The companies’ merger agreement, announced last year, stemmed from Westlake Bancorp’s desire to expand its financial services and from Brentwood’s need to find a buyer after suffering heavy loan losses.
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