Media Coverage
Source: American Banker
Media Coverage
02.18.14
America Bancshares, Inc. has agreed to sell American Security Bank (ASB) to CVB Financial Corporation’s principal subsidiary, Citizens Business Bank (CBB). As part of the $57 million transaction, ASB will merge with and operate under the CBB name and brand.
Dana Johnson, Chairman and Chief Executive Officer of ASB, said in a press release, “Citizens Business Bank will expand upon our existing suite of products and continue our commitment to excellent customer service.”
The merger will enhance CBB’s banking franchise in Southern California and will bolster its presence in key local markets, both companies reported in the press release.
Patricia Young, a member of Pillsbury’s corporate and securities practice in San Francisco, advised America Bancshares on the deal.