Golden Bank, N.A.’s Southern California Branch Acquisition


Bracewell LLP advised Golden Bank, N.A. on the deal.

First Choice Bancorp (Nasdaq Capital Markets: FCBP) (the “Company”), the holding company for First Choice Bank (the “Bank” or “First Choice”), announced that the Bank has completed the sale of its Rowland Heights, California branch (“Rowland Heights Branch”) to Golden Bank, N.A. (“Golden Bank”), headquartered in Houston, Texas.

Pursuant to the terms of the Purchase and Assumption Agreement, Golden Bank has agreed to assume certain deposit liabilities, as well as cash, rights, title, and interest in the lease of the real property related to the Rowland Heights Branch, personal property and other fixed assets associated with the Rowland Heights Branch; no loans were sold as part of the subject sale. All necessary regulatory approvals were obtained prior to completion of the sale.

The Bracewell team included Joshua T. McNulty (Picture), K. Brock Bailey, Steven J. Lorch and C. Robert Baird.

Involved fees earner: Brock Bailey – Bracewell; Robert Baird – Bracewell; Steven Lorch – Bracewell; Joshua McNulty – Bracewell;

Law Firms: Bracewell;

Clients: Golden Bank, N.A.;

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Author: Ambrogio Visconti