IE Business Daily Business news for the Inland Empire.
Citizens Business Bank’s merger with American Security Bank is now official.
The acquisition, which was first announced in February, was concluded last Thursday after all regulatory approvals were completed, according to a Citizens Business Bank statement.
“The merger with American Security Bank is an exciting opportunity for Citizens Business Bank to further expand our footprint in the Southern California marketplace,” said Christopher D. Myers, Citizens Business Bank’s president and chief executive officer, in the statement. “We intend to build on the strong foundation American Security Bank [has] established.”
Citizens Business Bank is the largest financial institution based in the Inland Empire, with more than $7.3 billion in assets. It serves 43 cities in the Inland region, Los Angeles, Orange and San Diego counties and the Central Valley.
American Security Bank started in 1990 as Sun Country Bank; it changed its name to American Security in 2005. Today it serves the Inland Empire, Orange County and Antelope Valley, according to the company’s website.
