Print this article
The Private Bank Of California Merges Into First PacTrust Bancorp
Eliane Chavagnon
2 July 2013
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.