SC Bancorp: New Jersey-based Basswood Partners LP...
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SC Bancorp: New Jersey-based Basswood Partners LP said Friday that it has acquired a 6.3% stake in the Anaheim holding company of Southern California Bank. The New Jersey company also recently bought 6.2% of the stock of National Bancorp in Oxnard, but has no plans to engineer a combination of the two bank companies, said Bennett Lindenbaum, a Basswood managing partner. Basswood has invested in California banks in the past six months because they have been undervalued compared to institutions in other states, he said.
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