San Francisco-Based Firm Consolidates Two Units
Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com
California Community Bancshares, a San Francisco bank holding company, said it has approved the consolidation of two of its units, Bank of Orange County and CalWest Bank.
Upon completion, CalWest branches in Torrance and Downey will become part of Bank of Orange County, based in Orange. Harvey Ferguson is chief executive of both institutions, which have combined assets of $241 million.
The consolidation, subject to regulatory approval, is expected to be completed by June.
