West Coast Bancorp, Sunwest Bank to Merge
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West Coast Bancorp, a California bank holding company, said Monday that it is merging into its majority-owned subsidiary, Sunwest Bank in Tustin, to save operating costs for both firms.
The parent company said in a news release that West Coast shareholders will receive about 3.3 shares of Sunwest stock for every 100 shares of West Coast stock. West Coast, which once was a multi-bank holding company, owns 56.5% of Sunwest.
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