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  6. Grossmont Bank Acquires FP Bancorp

M&A Deal Summary

Grossmont Bank Acquires FP Bancorp

On May 26, 1998, Grossmont Bank acquired financial services company FP Bancorp for 87M USD

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

M&A Deal Summary
Date 1998-05-26
Target FP Bancorp
Sector Financial Services
Buyer(s) Grossmont Bank
Deal Type Add-on Acquisition
Deal Value 87M USD
Advisor(s) Sandler O'Neill + Partners (Financial)
Higgs Fletcher & Mack (Legal)

Target

FP Bancorp

Escondido, California, United States
FP Bancorp,provides financial services,company provides Electronic Funds Transfer, Bank Electronic Funds Transfer, Check Cashing Agencies,Electronic Funds Transfers.

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Buyer(S) 1

Buyer

Grossmont Bank

La Mesa, California, United States
Category Company
Founded 1976
Sector Financial Services
DESCRIPTION

Grossmont Bank Provides financial services for commercial and business sectors.Grossmont Bank offers Bank Atlantic, Internet Savings Account, Gomez Internet Banking, Internet Banking.

DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 1998 M&A 1 of 1
Size (of disclosed) 1 of 1
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