San Diego Private Bank has announced that it completed its purchase of about $50 million in loans and assumed $8 million in deposits from First Security Business Bank on December 26, 2014.

San Diego Private Bank has announced that it completed its purchase of about $50 million in loans and assumed $8 million in deposits from First Security Business Bank on December 26, 2014.

As was previously stated by Selwyn Isakow, chairman of San Diego Private Bank, "This transaction is meaningfully accretive to our earning in the first year."

First Security Business Bank will close its only office in Orange, California following the transaction. If it is not convenient for new clients to visit one of our locations, we will be happy to make arrangements to meet at your home or business to discuss our wide array of deposit, cash management, SBA loans as well as business and individual term loans and lines of credit,” Maria Kunac, president and chief executive of San Diego Private Bank, said in a statement.

San Diego Private Bank specializes in financing investor commercial properties, owner-occupied buildings and construction loans. The Bank also offers various portfolio and government guaranteed programs, including cross-border Export-Import Bank programs.