American West, Bank of L.A. Agree to Merger
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American West Bank in Encino has agreed to merge with Bank of Los Angeles, another small community bank based in West Hollywood.
The combined institution would have assets of more than $189 million, and five offices in the Los Angeles area.
The merger will be completed by the issuance of one share of Bank of Los Angeles stock for each outstanding share of American West Bank.
John J. Feldman, American West’s president and chief executive, will become president of the new institution.
The merger is expected to be completed around the end of the year. It is also subject to shareholder and regulatory approval.
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