×

Horgan, Rosen, Beckham & Coren, L.L.P. Served as Legal Counsel to Bank of Southern California in connection with the FDIC Purchase and Assumption Transaction of Frontier Bank FSB dba El Paseo Bank

CALABASAS, Calif., Dec. 15, 2014 (GLOBE NEWSWIRE) -- Horgan, Rosen, Beckham & Coren, L.L.P., served as legal counsel to Bank of Southern California, N.A. (OTCQB:FBBN), a commercial bank headquartered in San Diego, California, in connection with its recently announced purchase of substantially all the assets and liabilities of Frontier Bank FSB dba El Paseo Bank through a purchase and assumption agreement with the FDIC and its consummation of a private placement offering. As a result of those transactions, Bank of Southern California acquired two branch offices of El Paseo Bank in Palm Desert and Rancho Mirage, California, which reopened as branch offices of Bank of Southern California on November 10, 2014, and increased its capital.

The corporate and banking team of Horgan, Rosen, Beckham & Coren, L.L.P., led by partners Khoi D. Dang and S. Alan Rosen, orchestrated a coordinated effort with attorney Justin A. Santarosa to get this deal done within extremely tight timeframes. Horgan, Rosen, Beckham & Coren, L.L.P., was actively involved in reviewing definitive documents for the FDIC purchase and assumption transaction, drafting and negotiating agreements used by Bank of Southern California to raise the necessary capital in order to consummate the transaction, interfacing with bank regulators and preparing the requisite regulatory applications and notices.

About HORGAN, ROSEN, BECKHAM & COREN, L.L.P.

Horgan, Rosen, Beckham & Coren, L.L.P., specializes in the representation of community banks and their holding companies throughout the western United States and has been ranked by SNL Financial as the #1 law firm on the West Coast for Financial Institutions Mergers and Acquisitions two years in a row and in the top 10 in branch purchase and assumption transactions. Horgan, Rosen, Beckham & Coren, L.L.P., continues to be recognized by SNL Financial as among the top corporate and banking law firms on the West Coast.

CONTACT: KHOI D. DANG HORGAN, ROSEN, BECKHAM & COREN, L.L.P. CALABASAS, CA (818) 591-2121Source:Horgan, Rosen, Beckham & Coren L.L.P.