Security Bank of California, the wholly owned subsidiary of Security California Bancorp (OTCBB: SCAF), today announced that it has completed its purchase of a branch in the Murrieta/Temecula market from Rabobank N.A. The new branch, located at 40723 Murrieta Hot Springs Road in Murrieta, represents Security Bank’s sixth full service branch in Southern California.
Through the acquisition of the branch, Security Bank of California has added approximately $40 million in deposits. No loans were acquired as part of the transaction.
“We are excited to open our new branch and we are very pleased that all of the current staff has joined our team and will continue to help us expand our products and services to the Murrieta/Temecula business community,” said James A. Robinson, Chairman and CEO of Security Bank of California.
“Security Bank has become one of the fastest growing community business banks in California by offering businesses a sophisticated and flexible suite of financial products and services, combined with our highly personalized, high-touch approach to customer service. We look forward to supporting small- and middle-market businesses in the Murrieta/Temecula area in the years ahead.”
“I have known the management of Security Bank for many years and I am excited that they have chosen to bring their unique approach to commercial banking to the Murrieta/Temecula market,” said Joan Sparkman, Chair of the Southwest Health Systems Board of Governors and a longtime business community advocate in the Temecula Valley. “I am certain that area businesses will appreciate working with a flexible