At least three banking companies marked the end of the year by closing deals.
California United Bank in Encino said Monday that it had completed its $17.2 million purchase of California Oaks State Bank in Thousand Oaks. The acquisition created a bank with assets of about $827 million. California United paid shareholders $11.35 a share split evenly between cash and stock.
Old National Bancorp of Evansville, Ind., completed its purchase of the $850 million-asset Monroe Bancorp on Jan. 1. The purchase gives the $7.5 billion-asset Old National another $850 million in assets and the third-largest branch network in Indiana. The $90.1 million acquisition also included Monroe branches in Illinois and Kentucky.
On Dec. 31, Encore Bancshares Inc. in Houston said it had left Florida, selling $182.8 million of deposits to Ovation Holdings Inc. The sale included about 15% of the $1.5 billion-asset company's deposits.