Bank Merger Gets Approval

0

The board of First Community Bancorp in Rancho Santa Fe approved the acquisition of Foothill Independent Bancorp in Glendora, in a stock and cash transaction valued at $238 million.


In a filing with the Securities and Exchange Commission Thursday, Foothill said George Langley, the company’s president and chief executive, will join First Community’s board. Casey “Joe” Cecala, Foothill’s executive vice president and chief credit officer, was named become president of Pacific Western National Bank’s Inland Empire region.


Foothill, with $800 million in assets and 12 branches in Los Angeles, Riverside and San Bernardino counties, will merge with Pacific Western, one of First Community’s bank subsidiaries.

No posts to display