Acquisition of Levy Bank Has Final OK
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The venerable Bank of A. Levy officially became part of First Interstate Bank on Wednesday after receiving governmental and shareholder approval.
The 19 Bank of A. Levy branches will take down their signs over the April 22 weekend and replace them with First Interstate logos, officials said. Bank accounts, automated teller machines and the Bank of A. Levy computer system will switch to First Interstate that weekend.
Until then, customers of both banks will continue to use their same accounts, officials said.
First Interstate Bancorp announced Aug. 2 that it had bought the Ventura County bank in an $86.5-million stock transfer.
The Federal Reserve Bank of San Francisco unanimously approved the deal Dec. 19 and state approval followed 10 days later.
A. Levy shareholders approved the deal a week ago.
Until the deal, A. Levy stood as the county’s largest independent bank.
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