The parent company of California's 10th-largest commercial bank has retained the services of New York investment banking firm Lehman Brothers Inc. to evaluate the institution's future.

Imperial Bancorp, holding company for $2.8 billion-asset Imperial Bank, announced Jan. 11 that it is interested in "evaluating strategies to maximize shareholder value."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.