Mellon Bank Corp. is buying Los Angeles-based 1st Business Bank for a leg up in California's hot-and hotly competitive-small-business market.

"It's a hyper-competitive market," said Keith P. Russell, vice chairman, West Coast, of Pittsburgh-based Mellon. "But if you have the right ingredients, it can be very profitable."

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.