San Francisco-based Bank of the West announced that it has purchased the Pacific Avenue branch of Wachovia Bank for an undisclosed price.
San Francisco-based Bank of the West announced that it has purchased the Pacific Avenue branch of Wachovia Bank for an undisclosed price. It is the latest in a series of revolving ownerships, with the bank, originally World Savings, purchased by Wachovia in 2006. Wachovia itself was bought by Wells Fargo in late 2008, but it kept its original name. Bank of the West is the fourth owner of the facility in as many years. The acquisition does not include loans.
The deal was part of a larger purchase by which Bank of the West also bought a Wachovia bank in Monterey County. The new owners have over 700 branches in 19 states, with $62 billion in assets. Read more at the Santa Cruz Sentinel.
