Landmark-Founders Bank Talks: Landmark Bancorp of La...
From Times Staff and Wire reports
Landmark-Founders Bank Talks: Landmark Bancorp of La Habra said Monday that it is negotiating to acquire Founders National Bank of Brea. Landmark has proposed paying about $5 million or $14.66 for each of Founders’ 341,014 outstanding shares. The final price would be paid in cash and stock based on Founders’ book value 30 days before final acquisition. The acquisition, which would create an institution with $237 million in assets, is subject to regulatory approval and approval by each bank’s board of directors and shareholders.
