California State Bank announced Wednesday that it will change its name to First Security Bank of California.
The name change, slated to take effect by the second quarter, reflects the bank's June 2 acquisition by First Security Corp. of Salt Lake City.
"This name change will communicate to Southern California that our offices, products, and services are backed by a $20 billion financial institution," said California State Bank chairman and chief executive officer Thomas A. Bishop.
The purchase of the business-oriented bank marked First Security's entry into California, broadening its banking presence to seven states.
California State Bank, with roughly $850 million of assets, operates 17 branches in the San Gabriel Valley, as well as Orange, Riverside, and San Bernardino counties.
- Olaf de Senerpont Domis