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Article: Sanwa Bank California Says It Stands To Gain In Both Customers and Image as Out-of-State Rivals Merge
- Article from:
- PR Newswire
- Article date:
- March 20, 1997
CopyrightCOPYRIGHT 1997 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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LOS ANGELES, March 20 /PRNewswire/ -- Sanwa Bank California, reacting to today's announcement that First Bank Systems of Minneapolis will acquire Portland, Oregon-based U.S. Bank, said it stands to gain in both customers and image as the backlash against such mega-mergers gains strength.
"Customers are already angry over the marriages of several in-state banks," said Sanwa's Howard Gould, vice chairman and chief administrative officer for the $8 billion institution. "These two out-of-state banks, with a new presence in California, will try to convince California consumers that this is a good thing.
"But, our experience shows that not all customers ...