“This is another outstanding opportunity for Grandpoint to partner with a bank that has a similar business focus and a well established banking office network that complements our own,” said Don M. Griffith, chairman and chief executive officer of Grandpoint Capital, Inc., and Grandpoint Bank. “National Bank of California will bring talented leadership to Grandpoint and open up new markets for us in southern California. To insure a smooth transition for our new clients, we will be retaining the executive management team of National Bank of California.”“This merger will enable us to support the continued growth of our clients with greater capital resources and expanded product capabilities,” said Henry P. Homsher, president of NCAL Bancorp and National Bank of California. “The fact that our corporate culture and business philosophy are so similar to Grandpoint’s makes this a very comfortable fit for our bank.” King, Holmes, Paterno & Berliner, LLP served as legal counsel for NCAL Bancorp for the transaction, and D.A. Davidson & Co. served as financial advisor and issued a fairness opinion. Horgan, Rosen, Beckham & Coren, LLP served as legal counsel for Grandpoint Capital, Inc., and Keefe, Bruyette & Woods, Inc. served as financial advisor. National Bank of California is a full-service commercial bank. The Bank offers customized services to small and mid-sized businesses as well as individuals through five strategically located regional offices in Los Angeles, the San Fernando Valley, the San Gabriel Valley, and Orange County. Grandpoint Capital is a bank holding company with three wholly owned subsidiaries: Grandpoint Bank, Regents Bank, N.A. and Peoria Holdings, LLC. The company is also a majority owner of the Bank of Tucson. At March 31, 2012, Grandpoint Capital had total consolidated assets of approximately $1.5 billion and in excess of $217 million in shareholders’ equity. In January 2012, Grandpoint Capital announced definitive agreements to acquire two financial institutions. Pending regulatory approval, Phoenix-based The Biltmore Bank of Arizona will become a subsidiary of Grandpoint Capital when that transaction is completed, and California Community Bank, which is headquartered in Escondido, will be merged later this year into La Jolla-based Regents Bank.
Forward-Looking StatementsStatements such as those regarding the anticipated development of the companies’ business, and the intent, belief or current expectations of the companies, their directors, or their officers, are “forward looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “plans,” “may increase,” “may fluctuate,” “may result in,” “are projected,” and similar expressions. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risk related to the local and national economy, the companies’ performance, including their ability to generate loan and deposit growth, changes in interest rates, and regulatory matters. NCAL Bancorp and Grandpoint Capital do not undertake, and specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50307252&lang=en