La Jolla Bank & Trust, which on...
La Jolla Bank & Trust, which on Friday completed mergers with Bank of Del Mar and Hidden Valley National Bank of Escondido, has become “the No. 2 ranked independent bank in the county,” according to La Jolla Bank President Edward H. Sondker.
The three combined banks reported total assets of $415 million, according to Sondker, who added that, “as a result, La Jolla Bank leaps from fifth place in the area-wide bank standings to second, with no close third.”
Bank of Del Mar Chairman John Blake and Hidden Valley National Bank Chairman William McKee have joined the board of directors of La Jolla Bank and La Jolla Bancorp, the bank’s parent company.
The three banks exchanged letters of intent more than a year ago. Federal regulators and shareholders have approved the mergers.
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