First PacTrust Bancorp BANC, the holding company
for PacTrust Bank and Beach Business Bank, and The Private Bank of California
PBCA today jointly announced that they have entered into a definitive
agreement pursuant to which The Private Bank of California will merge into
Beach Business Bank, a wholly owned subsidiary of First PacTrust (the
“Transaction”). Following the closing of the Transaction, Beach Business Bank
will be renamed “The Private Bank of California.”
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