Orange County Bank Deal Proposed: Landmark Bancorp,...
From Times Staff and Wire reports
Orange County Bank Deal Proposed: Landmark Bancorp, a four-branch Orange County bank, said it may buy another local bank, one-branch Founders National Bank, for about $5 million. The two banks said the proposed acquisition would involve 45% cash and 55% stock. The deal would be closed on about June 30. Landmark has assets of $183 million and 120 employees, while Founders, based in Brea, has assets of about $55 million and 35 employees. Landmark earned $1.5 million in the first nine months of this year, up from $1.3 million a year ago.
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