The Private Bank of California has, following shareholder approval last month, merged into First PacTrust’s subsidiary Beach Business Bank, with the resulting bank named The Private Bank of California.

First PacTrust now has $3 billion in total assets, with branches throughout Southern California and loan production offices in five western states.

“First PacTrust is increasingly well positioned to serve the banking needs of the most attractive depositors in the most desirable markets of Los Angeles, Orange and San Diego counties,” said Steven Sugarman, chief executive of First PacTrust.

Richard Pachulski, David Misch, Richard Smith and Nick Zappia will continue working with First PacTrust. Pachulski will serve as chairman of First PacTrust’s newly-formed advisory board. View other previously-announced appointments here.

The deal was first announced in August 2012. 

Based in Irvine, CA, First PacTrust Bancorp is the holding company of Pacific Trust Bank and The Private Bank of California.