Security Pacific Bank (Los Angeles, California) (extinct)

Security Pacific Bank (Los Angeles, California) (extinct)

Security Pacific Bank (Los Angeles, California) (extinct)

Overview
Headquarters

12121 Wilshire Boulevard,Suite 1350,Los Angeles, CA 90025

Type of Company

Private

Industries

Retail & Commercial Banking

Company Description

Security Pacific National Bank (SPNB) was a large US bank headquartered in Los Angeles, California. In 1992, Bank of America acquired SPNB. On September 1, 1868, Hellman, Temple and Co. opened in the then small town of Los Angeles. The banking firm was the predecessor of Farmers and Merchants Bank (1870), which was the predecessor of Security First National Bank. The bank earned a reputation for aggressive and creative business practices and benefited from economic and population growth in the Western United States. By the mid-20th century it had an international presence, and was ranked the fifth-largest bank in the United States and third-largest in California in terms of deposits. In 1967, Security First National Bank bought Pacific National Bank and became Security Pacific National Bank. In 1971, SPNB Security Pacific National Bank (SPNB) buys 69% of Bank of Canton. In 1975, Security Pacific Bank constructed a 55-story tower in downtown Los Angeles, now known as Bank of America Plaza.

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Recent Transactions
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PacWest Bancorp, Pacific Western Bank (Beverly Hills, California) purchase Security Pacific Bank /Deposits Operations from Security Pacific Bank (Los Angeles, California)

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