Pacific Trust Bank has completed its previously-announced
sale of eight legacy branches in San Diego, Riverside and Los Angeles counties to AmericanWest Bank, a Washington state
chartered bank.

Bank of California chief executive, Steven Sugarman, said the
sale “reshapes PacTrust Bank’s retail branch network to focus on serving small-
to mid-sized businesses and high net worth families throughout Los
Angeles, Orange and San Diego counties.”

(Banc of California is the
holding company for Pacific Trust Bank and The Private Bank of California.)

The following PacTrust Bank branches were sold in the
transaction: Riverside (2 branches) and Temecula (1 branch) (in Riverside County);
California Chula Vista (2 branches), El Cajon (1
branch), and San Diego/Clairemont (1 branch) (in San Diego
County, CA); and one branch in Lakewood (in Los
Angeles County, CA.)

The transaction resulted in a transfer of some $464 million
worth of deposits to AmericanWest Bank. The firm said that certain other assets
related to the branches were also acquired as a part of the transaction
including the sale of the real estate for three of the branch locations and
certain home equity lines of credit related to some of the deposit accounts.