ST. LOUIS - Continuing its San Francisco buying spree, First Banks America Inc. announced plans to buy $203 million-asset Bank of San Francisco for $65 million of cash.
Friday's announcement was First Banks' third involving a San Francisco bank since June. First Banks, a $1.5 billion-asset St. Louis bank holding company with subsidiaries in Texas and California, also has deals to buy $104 million-asset Millennium Bank of San Francisco and $177 million-asset Commercial Bank of San Francisco for a combined $29.5 million of cash.
The latter two deals are expected to close in the fourth quarter, and the deal for Bank of San Francisco is expected to close in the first quarter.
