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Thursday, March 29, 2012

AmericanWest Bank acquires Security Business Bank

In a move that brings Spokane based AmericanWest Bank even farther into the Southern California banking market ,AmericanWest will acquire the bank, Security Business Bank. Security Business Bank is a financial institution based in San Diego,Ca. and operates 4 branches all of which are in the San Diego area. AmericanWest which currently already has a total of over 70 branches in 4 western states will pay about 26 million dollars to acquire Security Business Bank. This is the second acquisition for AmericanWest Bank in recent days as AmericanWest paid out 7.2 million dollars late last year to acquire the Puget Sound regional bank,Viking Bank and it's 7 branches.