A New Jersey investment partnership is seeking to increase its sizable stake in a Southern California thrift in a bid to force the company to consider a sale.

Basswood Partners LP has asked for approval from the Federal Reserve Bank of San Francisco to increase its stake in Anaheim-based SC Bancorp to more than 10%. Basswood currently owns 9.8% of the $470 million-asset holding company for Southern California Bank.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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