Torrance Bank Acquired: Home Bank in Signal...
From Times Staff and Wire Reports
Torrance Bank Acquired: Home Bank in Signal Hill has signed a preliminary agreement to buy Torrance National Bank for $17 million in cash and stock in Home Bank’s parent firm, Home Interstate Bancorp. The transaction, which will pay Torrance National shareholders $29 a share, is expected to be completed in mid-1990. Home Bank has 11 branches and assets of $370 million; Torrance National has two branches and assets of $85 million.
