First Business Bank of San Diego has agreed to buy 1st Pacific Bancorp of San Diego for about $7 million and whatever is later recovered from charged-off loans and a lawsuit.

The $105 million-asset First Business would add eight branches to the three it has. The bank plans to adopt the 1st Pacific name.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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