First California Completes Merger Of Equals Between National Mercantile Bancorp., FCB Bancorp.
First California Financial Group, Inc. (Nasdaq:FCAL) today announced it has completed the merger of equals between National Mercantile Bancorp (Nasdaq:MBLA) and FCB Bancorp (OTCBB:FCBA). Along with completing the merger of equals, the combined companies have adopted the First California name, and the new company will begin trading today on NASDAQ under its new symbol FCAL. Yesterday, in simultaneous meetings, the shareholders of National Mercantile Bancorp and FCB Bancorp voted respectively, to approve the merger of the companies with and into First California. As a result of the merger, the principal operating subsidiaries of First California are First California Bank, Mercantile National Bank and South Bay Bank.
“With the finalization of this merger, we are positioning ourselves to become a major financial institution in Southern California. Our asset size will increase to over $1 billion and our branch system will expand to 12 offices, serving Los Angeles, Orange and Ventura counties. Our increased size and stronger financial position will enable us to provide more lending opportunities and a wider array of products and services to our clients,” said C. G. Kum, President and Chief Executive Officer. “Today marks the beginning of new First California Bank and we greatly appreciate the support of our shareholders, our Board of Directors, our employees and our clients.”
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.