American Plus Bank has finalised the acquisition of United Fidelity Bank, fsb’s Long Beach branch, operating as International City Bank, marking an expansion in Southern California.
This acquisition involves the transfer of approximately $74m in loans and $117m in deposits, strengthening American Plus Bank’s portfolio and solidifying its presence in the Long Beach area.
The branch will now operate under the American Plus Bank brand, retaining the existing team to ensure continuity and community service. Customers of the former International City Bank can anticipate a smooth transition, gaining access to an expanded suite of banking products, digital services, and enhanced customer support.
In a statement, American Plus Bank highlighted its commitment to the Long Beach community, outlining plans to invest in local initiatives and engage in community outreach to promote economic growth.
American Plus Bank president and CEO John Nerland said: “We are pleased to welcome the customers and employees of International City Bank into our American Plus Bank family.
“This acquisition strengthens our position in the Long Beach market and allows us to better serve the diverse needs of local residents and businesses.”
This acquisition aligns with American Plus Bank’s strategic growth objectives, aiming to deliver superior banking experiences across Southern California. The transaction received all necessary regulatory approvals.
American Plus Bank took financial advice from MJC Partners, and legal counsel from Loren Hansen, Esq., of Loren P. Hansen, APC, for this transaction. United Fidelity Bank, fsb was advised by Piper Sandler and John Tanselle, Esq., of Amundsen Davis.
