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Article: New Focus Seen Driving Beverly Hills to the Block.(Beverly Hills Bancorp.)
- Article from:
- American Banker
- Article date:
- June 18, 2007
- Author:
CopyrightCOPYRIGHT 2007 SourceMedia, Inc. 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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Beverly Hills Bancorp has put itself on the block, because its foray into wholesale banking never quite panned out.
That is how shareholders are interpreting the company's announcement last week that it has hired the investment banking firm Hovde Financial Inc. to advise it of its strategic alternatives.
But just how attractive would the Calabasas, Calif., parent of First Bank of Beverly Hills be to a potential buyer?
Observers say the best things the $1.6 billion-asset Beverly Hills has going for it are its loan portfolio, its Southern California location, and its capital base.
On the downside, it has just one branch, limited core ...