Reduce liability for losses on commercial accounts by adhering to four requirements.
First California Financial Group and Premier Service Bank Terminate Merger Agreement
Jan 31 - First California Financial Group Inc. (NASDAQ: FCAL), its wholly owned subsidiary, First California Bank and Premier Service Bank (OTCBB: PSBK) have jointly agreed to terminate that certain agreement and plan of merger dated Feb. 27, 2012, as amended, among the parties, effective Jan. 30, 2013. Under the terms of the merger agreement the transaction was to be accomplished by Dec. 31, 2012. As the parties were unable to accomplish the transaction by that date, the parties have mutually determined that it is in the best interest of both companies to terminate the Merger Agreement. The termination agreement entered into between the parties includes mutual general releases of all claims.
About Premier Service Bank
Premier Service Bank is a California state-chartered bank with two offices, its headquarters office in Riverside and a full-service banking office in Corona. The bank provides commercial banking services, including a wide variety of checking accounts, investment services with competitive deposit rates, on-line banking products, and real estate, construction, commercial and consumer loans, to small and medium-sized businesses, professionals and individuals. Additional information about Premier Service Bank is available at its website at www.premierservicebank.com.
About First California
First California Financial Group Inc. (NASDAQ: FCAL) is the holding company of First California Bank. Founded in 1979 and with nearly $2 billion in assets, First California serves the comprehensive financial needs of small- and middle-sized businesses and high net worth individuals throughout Southern California. Led by an experienced team of bankers, First California is committed to providing the best client service available in its markets, offering a full line of quality commercial banking products through 15 full-service branch offices in Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo and Ventura counties. The holding company's website can be accessed at www.fcalgroup.com. For additional information on First California Bank's products and services, visit www.fcbank.com.