Depositors of the acquired lender will be taken over by Plaza Bank and their deposits will remain insured by the FDIC, as per terms of the agreement.
All other financial services and banking activities, including transaction through cheques, ATMs or debits card will continue to be available to customers, the acquirer said.
Following completion of the transaction, Plaza Bank’s assets will increase to nearly $452m and deposits to approximately $361.8m.
Commenting on the deal, Plaza Bank president and CEO Gene Galloway said that the acquisition will boost the bank’s footprint in the Southern Nevada market and strengthens its bond between both Orange County and Las Vegas offices.
Plaza Bank offer loans to small and middle market businesses and professional firms, in Southern California and Southern Nevada.
