Bank merger: Two small South County banks...
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Compiled by James S. Granelli Times staff writer
Bank merger: Two small South County banks have tentatively agreed to merge, a move that would create the area’s largest independent bank with about $80 million in assets.
In an exchange of stock, Laguna Bank, which is headquartered in Laguna Beach and has a branch in Laguna Hills, would merge into Monarch Bank in Laguna Niguel, according to a letter of intent. The merger is subject to further negotiations and approval of regulators and shareholders.
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