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Grandpoint Capital announced late Monday that it is buying NCAL Bancorp, the holding company for the National Bank of California, a $341 million-asset bank with five branches in southern California.
June 12 -
The final price Grandpoint Capital would pay for National Bank of California depends on the seller's loan losses, expenses over two years and other contingencies.
June 12 -
Serial acquirer Grandpoint Capital Inc. has announced its first acquisition of 2012 as it prepares for the closing of its last announced deal.
January 20
Serial acquirer Grandpoint Capital has agreed to buy Gilmore Bank. Both are in Los Angeles.
Gilmore would be merged into the $943 million-asset Grandpoint Bank. Terms of the deal, announced Tuesday, were not disclosed.
The addition of the $177 million-asset Gilmore's two branches would give Grandpoint ten Los Angeles locations.
"Gilmore Bank has a long and proud legacy in Los Angeles," Don Griffith, the chairman and chief executive of Grandpoint Bank, said in the news release. "We are honored that the [Gilmore] family, led by Chairman Hank Hilty, has selected Grandpoint as their partner in this merger."
Grandpoint has bought eight community banks since it was founded in 2010. It
Grandpoint Capital has assets of $2.2 billion and three subsidiaries: Grandpoint, of which Bank of Tucson in Arizona is a subsidiary; Biltmore Bank of Arizona in Phoenix; and Regents Bank in La Jolla, Calif.
