First Interstate to Close 6 Branches After Levy Merger

First Interstate Bancorp plans to close six branches and lay off 100 employees as a result of its previously announced acquisition of Ventura-based Bank of A. Levy.

Three First Interstate Bank branches and three branches of Bank of A. Levy will be closed, reports Rich Wyler, a First Interstate spokesman.

He did not specify which employee groups or branches will be affected by the layoffs.

The acquisition, scheduled to be completed Jan. 31, was approved late last month by the Federal Reserve Board. The closures and layoffs will take place in April, Wyler said.

The planned closures:

* First Interstate’s Oxnard office, 300 W. 3rd St. Accounts will be transferred to the A. Levy branch at 143 W. 5th St.

* First Interstate’s Simi Valley office, 2820 Los Angeles Ave. Accounts will be moved to the A. Levy branch at 1200 Los Angeles Ave.

* First Interstate’s Ventura office, 2610 E. Main St. Accounts will moved to the A. Levy branch at 2499 Harbor Blvd.

* A. Levy’s County Center office, 5808 E. Telegraph Road, Ventura. Accounts will be transferred to the First Interstate office at 5751 Telephone Road.

* A. Levy’s Thousand Oaks office, 137 E. Thousand Oaks Blvd. Accounts will be transferred to First Interstate’s branch at 189 N. Moorpark Road.

* A. Levy’s Westlake office, 3815 E. Thousand Oaks Blvd., Thousand Oaks. Accounts will be transferred to First Interstate’s branch at 3965 E. Thousand Oaks Blvd.

In addition, an A. Levy branch at 3907 Cochran St. in Simi Valley will be moved to 2860 Cochran.

The remaining 13 A. Levy branches will continue to operate as First Interstate units, Wyler said.

First Interstate will pay $86.5 million in stock to acquire A. Levy, Ventura County’s largest independent bank.