California Republic buys Westlake bank branch
Newport Beach-based California Republic Bank has purchased the Westlake Village branch of National Bank of California, saying it wants to use the new location as a foothold for expanding into the Ventura County market.
Terms of the sale were not disclosed, but the two banks previously said the deal would include the branch and $16.2 million in deposits.
Brentwood-based National Bank of California said in a statement in October that it was selling the Westlake Village branch in order to focus on its core markets in Los Angeles and Orange counties and the San Fernando Valley.
California Republic Bank had assets of $370.1 million as of September 30, 2011.
Its new branch is located at 875 S. Westlake Boulevard.