Frontier Bank Acquires Westco Savings Bank
Frontier Bank, a wholly owned subsidiary of Ventura County National Bancorp in Oxnard, said it has acquired for $750,000 the deposits and some assets of Westco Savings Bank from the federal government’s Resolution Trust Corp.
Frontier said it acquired Westco’s $116 million in deposits and $35 million of Westco’s loans.
Westco has offices in Culver City, La Palma, Wilmington and Harbor City. Orange County-based Frontier has its only office in La Palma.
Ventura County National Bancorp, the parent of Frontier and Ventura County National Bank, had assets of $314 million on Dec. 31, 1989.
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