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San Diego-based Bank of Southern California NA agreed to acquire Rancho Santa Margarita, Calif.-based CalWest Bancorp in an all-cash deal valued at about $32 million.
Bank of Southern California will pay 43 cents per CalWest Bancorp common stock under the terms of the deal. The deal is expected to close in the first quarter of 2020.
As part of the deal, CalWest Bancorp unit Calwest Bank will merge with Bank of Southern California.
S&P Global Market Intelligence calculates the deal is 183.3% of common equity and 183.3% of tangible common...