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Article: Bay View Capital Closes Sale of Branches to U.S. Bank.
- Article from:
- PR Newswire
- Article date:
- November 1, 2002
CopyrightCOPYRIGHT 2002 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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Bay View Capital Corporation today announced the completion of the previously disclosed sale of the 57-retail banking branches of its wholly owned subsidiary, Bay View Bank, to U.S. Bank, a wholly owned subsidiary of U.S. Bancorp . As part of the transaction, U.S. Bank has assumed Bay View Bank's deposit liabilities of approximately $3.3 billion and has paid Bay View Bank a premium. "The sale marks the conclusion of a transaction which not only benefits our shareholders, but also, with the excellent product offerings of U.S. Bank, our customers and employees," said Bob Goldstein, chairman and chief executive officer of Bay View Capital Corporation.
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