First Bank to Restructure, Move Headquarters to S.F.
The parent of First Bank & Trust in Newport Beach said Thursday that it will realign its California banking operations, merging the bank into a new holding company, and will move its headquarters to San Francisco.
Under the realignment, First Bank will be sold by St. Louis-based First Banks Inc. to its affiliate, First Banks America.
Company officials could not be reached for comment. It was unknown whether local jobs would be affected.
First Bank & Trust, which has total assets of about $971 million, operates 26 branches in six California counties.
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