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Article: First Business Bank, N.A. and 1st Pacific Bancorp Announce Termination of Planned Merger.
- Article from:
- Business Wire
- Article date:
- October 28, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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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SAN DIEGO -- First Business Bank, N.A. (OTCBB:FBBN) and 1st Pacific Bancorp (NASDAQ:FPBN) today announced the termination of the Agreement and Plan of Merger dated July 16, 2009, and the proposed merger transaction contemplated therein. Nathan Rogge, President of First Business Bank, stated that "today's economic and regulatory environment presented unanticipated complications that could not be overcome, given the structure of the transaction." The parties have begun to explore alternative transactions that could be mutually beneficial.
First Business Bank is exclusively focused on serving the special needs of professionals and small- and medium-sized ...