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Article: First Community Bancorp Signs Definitive Agreement to Acquire Harbor National Bank of Newport Beach, CA; - Harbor Acquisition Adds Three Branches for First Community in Orange County -.
- Article from:
- PR Newswire
- Article date:
- December 1, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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First Community Bancorp today announced the signing of a definitive agreement and plan of merger to acquire all of the outstanding common stock and options of Harbor National Bank (BULLETIN BOARD: HNTB) for $35.5 million in cash or, depending on the number of stock options outstanding at closing, approximately $13.28 per share after all outstanding stock options are cashed-out. Harbor, which is located in Newport Beach, California, had $177.9 million in assets at September 30, 2003.
The merger is subject to customary conditions, including the approval of Harbor's shareholders and bank regulatory authorities, and is expected to close in the second quarter of ...