Cal Oaks merger closes
Encino-based California United Bank completed its $17.2 million acquisition of Thousand Oaks-based California Oaks State Bank on Dec. 31. Cal Oaks shareholders will receive compensation of $11.35 per share, half in cash and half in shares of California United common stock, the banks announced Jan. 3.
First California to buy into debit card business
Westlake Village-based First California Financial Group said Dec. 30 that it will buy the electronic banking division of Palm Desert-based Palm Desert National Bank, allowing it to move into the prepaid debit card market. Terms of the deal were not disclosed.
Teledyne sells small-aircraft engine division for $186M
Teledyne is selling its small-aircraft engine business for $186 million to a Chinese company.
Ventura branch to give Crowell Weedon hat trick in region
Financial services firm Crowell Weedon & Co. will open a Ventura branch less than a year after arriving in Santa Barbara.
Cal Oaks merger nears close
Shareholders of both California United Bank and California Oaks State Bank gave the final go-ahead for the merger of the two institutions on Dec. 9
