Western Bancorp in Newport Beach, Calif., said Friday that it has a deal to buy Bank of Los Angeles for about $96 million in stock.

Western, the $2.1 billion-asset parent of Santa Monica Bank and Southern California Bank, would exchange 0.4224 shares of stock for each share of Bank of Los Angeles stock. By acquiring $275 million-asset Bank of Los Angeles, Western would extend its reach into Glendale, Culver City, and West Hollywood, and expand in Beverly Hills and Encino.

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