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Article: First Security to Acquire $849 Million California State Bank
- Article from:
- PR Newswire
- Article date:
- February 19, 1998
CopyrightCOPYRIGHT 1998 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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SALT LAKE CITY, Feb. 19 /PRNewswire/ -- First Security Corporation (Nasdaq: FSCO) announced today that it has signed a definitive agreement to acquire California State Bank (Nasdaq: CSTB), headquartered in West Covina, Calif.
California State Bank had year-end 1997 assets of $849.2 million, and has 17 branches serving small- and middle-market business customers and retail banking clients in the San Gabriel Valley, as well as Orange, Riverside and San Bernardino counties of Southern California.
Under the terms of the agreement, 1.42 (2.13 after giving effect to the 50% stock dividend payable on Feb. 24, 1998) shares of First Security Corporation ...