M&A Deal Summary

First Choice Bank Acquires Pacific Commerce Bancorp.

On February 26, 2018, First Choice Bank acquired financial services company Pacific Commerce Bancorp. for 110M USD

Acquisition Highlights
  • This is First Choice Bank’s 1st transaction in the Financial Services sector.
  • This is First Choice Bank’s largest (disclosed) transaction.
  • This is First Choice Bank’s 1st transaction in the United States.
  • This is First Choice Bank’s 1st transaction in California.

M&A Deal Summary
Date 2018-02-26
Target Pacific Commerce Bancorp.
Sector Financial Services
Buyer(s) First Choice Bank
Deal Type Add-on Acquisition
Deal Value 110M USD
Advisor(s) Piper Jaffray Companies (Financial)
Stuart Moore Staub (Legal)

Target

Pacific Commerce Bancorp.

Los Angeles, California, United States
Pacific Commerce Bancorp. is a parent company for Pacific Commerce Bank. Pacific Commerce Bank operates six full-service branches in Los Angeles and San Diego Counties, including its operating division, ProAmérica Bank, in Downtown Los Angeles. Pacific Commerce Bank provides a complete array of deposit, treasury, cash management and loan banking solutions to small businesses, professionals and high net worth individuals from Los Angeles to the Mexico border.

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Buyer(S) 1

Buyer

First Choice Bank

Cerritos, California, United States
Category Company
Founded 2005
Sector Financial Services
DESCRIPTION

First Choice Bank is a community-based financial institution that serves primarily commercial and consumer clients in diverse communities and specializes in loans to small- to medium-sized businesses and private banking clients, commercial and industrial loans, and commercial real estate loans. First Choice Bank was founded in 2005 and is based in Cerritos, California.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

Legal