LOS ANGELES,CA-Commercial Bank of California (CBC), and National Bank of California, led by Indian-American Ash Patel, have completed their merger, giving the combined entity six branches in Southern California, more than $750 million in total assets and more than $650 million in total deposits. The newly combined bank will be known as Commercial Bank of California and it will be a wholly owned subsidiary...
of NCAL Bancorp, according to a press release. All branches will remain open under the new structure, but plans are underway to in effect relocate the current Brentwood Office to a new location in Santa Monica in August.
“This merger is a key step in our growth strategy, putting us well on our way to becoming a privately held billion dollar bank,” said Patel, Chairman of the Board of NCAL Bancorp and National Bank of California, and Chief Executive Officer of Commercial Bank of California. “By combining our reach and resources, we’ll be able to provide the most personalized banking services to the residents of Southern California.”
CBC will continue to operate under the name Commercial Bank of California as a wholly-owned subsidiary of NCAL Bancorp.
Paul Folino will serve as Chairman of the Board of Commercial Bank of California and NCAL Bancorp. Patel will serve as President and Chief Executive Officer of Commercial Bank of California and NCAL Bancorp. Commercial Bank of California is a full-service bank serving the business and professional communities in Orange County from two branches located in Irvine and Brea.
National Bank of California is a full-service bank headquartered in West Los Angeles serving the business and professional community from four banking offices located in Los Angeles and Orange counties. It is a wholly owned subsidiary of NCAL Bancorp. Its Board of Directors includes Joseph Kornwasser and Ash Patel.
“This merger is a key step in our growth strategy, putting us well on our way to becoming a privately held billion dollar bank,” said Patel, Chairman of the Board of NCAL Bancorp and National Bank of California, and Chief Executive Officer of Commercial Bank of California. “By combining our reach and resources, we’ll be able to provide the most personalized banking services to the residents of Southern California.”
CBC will continue to operate under the name Commercial Bank of California as a wholly-owned subsidiary of NCAL Bancorp.
Paul Folino will serve as Chairman of the Board of Commercial Bank of California and NCAL Bancorp. Patel will serve as President and Chief Executive Officer of Commercial Bank of California and NCAL Bancorp. Commercial Bank of California is a full-service bank serving the business and professional communities in Orange County from two branches located in Irvine and Brea.
National Bank of California is a full-service bank headquartered in West Los Angeles serving the business and professional community from four banking offices located in Los Angeles and Orange counties. It is a wholly owned subsidiary of NCAL Bancorp. Its Board of Directors includes Joseph Kornwasser and Ash Patel.
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