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Previously, Schack has served as managing director and deputy chief credit officer of Imperial Capital Bank, as chief operating officer and chief financial officer at First Bank of Beverly Hills and also held various other management positions at First Los Angeles Bank and at Western Federal Savings Bank.
Rosa has served as chief lending officer, chief credit officer and REO/special assets manager and held previous positions with Glendale Federal Bank, Chinatrust Bank and First Bank of Beverly Hills.
The deal is funded with a $220,000 loan from First Bank of Beverly Hills, Calif.
As of April 15, 2009, Calabasas, California-based First Bank of Beverly Hills had total assets of approximately USD1.
The deal is backed with a $601,522 loan from First Bank of Beverly Hills.
CALABASAS - In an effort to expand its retail business, First Bank of Beverly Hills said Friday that it has reached an agreement to acquire the Beverly Hills branch of Fidelity Federal Bank.
The depositors of First Bank of Beverly Hills are protected by the FDIC to the extent of any applicable deposit insurance.
Beverly Hills Bancorp Inc (NASDAQ: BHBC), WFC Inc, and Wilshire Acquisitions Corporation own First Bank of Beverly Hills, of Calabasas.