Bank of Anaheim N.A.: One of Orange...
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Bank of Anaheim N.A.: One of Orange County’s few profitable banks last year, the institution said it has signed an $8.1-million deal to merge with a Covina bank. The agreement, which allows Bank of Anaheim to be taken over by California State Bank, comes two months after the two institutions announced their plans to merge.
Under the agreement, Bank of Anaheim shareholders would get about $15 a share for their stock. California State Bank has assets of $344 million, while Bank of Anaheim has assets of $74 million.
The deal is subject to shareholder and regulatory approvals.
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