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San Diego-based Bank of Southern California will grow from eight locations to 12 with its acquisition of Americas United Bank in Los Angeles County. Photo courtesy of Bank of Southern California

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Bank of Southern California to Buy L.A.-Based Bank

San Diego’s Bank of Southern California plans to buy a Los Angeles-based bank in a cash-and-stock deal valued at about $44.1 million, a move that would create a new company with about $750 million in total assets. The bank it plans to acquire, Americas United Bank, was founded in 2006 by a group of Los Angeles-based entrepreneurs.

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