M&A Deal Summary

Friendly Hills Bank Acquires Bank of Southern California N.A. - Three Branches

On April 19, 2021, Friendly Hills Bank acquired financial services company Bank of Southern California N.A. - Three Branches from Bank of Southern California N.A.

Acquisition Highlights
  • This is Friendly Hills Bank’s 1st transaction in the Financial Services sector.
  • This is Friendly Hills Bank’s 1st transaction in the United States.
  • This is Friendly Hills Bank’s 1st transaction in California.

M&A Deal Summary

Date 2021-04-19
Target Bank of Southern California N.A. - Three Branches
Sector Financial Services
Buyer(s) Friendly Hills Bank
Sellers(s) Bank of Southern California N.A.
Deal Type Divestiture

Target

Bank of Southern California N.A. - Three Branches

San Diego, California, United States
Three Branches are located in Orange, Redlands, and Santa Fe Springs, California. These three branches are more aligned to serve a consumer or small business banking model, rather than a commercial banking model.

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Buyer(S) 1

Buyer

Friendly Hills Bank

Whittier, California, United States

Category Company
Founded 2006
Sector Financial Services
DESCRIPTION

Friendly Hills Bank is a community bank that was formed to primarily serve the Southern California communities of eastern Los Angeles County and northern Orange County. The Bank was established by prominent members of the local community who were seeking an alternative to the larger financial institutions in the area. Friendly Hills Bank was founded in 2006 and is headquartered in Whittier, California.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1

Seller(S) 1

SELLER

Bank of Southern California N.A.

San Diego, California, United States

Category Company
Founded 2001
Sector Financial Services
Employees76
DESCRIPTION

Bank of Southern California, N.A. is a provider of provider of financial products to individuals, professionals, and small-to-medium sized businesses. Bank of Southern California was founded in 2001 and is based in San Diego, California.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-21 CalWest Bancorp

Irvine, California, United States

CalWest Bancorp is the holding company of CalWest Bank, a community bank recognized for its exemplary service to entrepreneurs, high net worth individuals and non-profit organizations located throughout Southern California. The Bank serves the business community through its four branches located in Rancho Santa Margarita, Irvine, Huntington Beach, and Redlands.

Buy $32M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-27 Bank of Santa Clarita

Santa Clarita, California, United States

Founded in 2004, Bank of Santa Clarita is a full-service community bank headquartered in Santa Clarita, California. Bank of Santa Clarita provides local, experienced decision-making and personalized service that growing businesses need on a daily basis to efficiently manage their cash and credit needs. It is engaged in a full range of business and personal banking services for small-to-medium size businesses, professionals, entrepreneurs, and high-net worth clients.

Buy $56M