Eddie Bauer will close its doors in...

Eddie Bauer will close its

doors in South Coast Plaza

The Spiegel Group has announced it will close its Eddie Bauer

store in South Coast Plaza.

The Illinois-based clothing retailer has said it will close the

store along with 58 others across the country. The move is part of

the company’s reorganization after it declared bankruptcy March 17.

A close-out sale began May 23 on the store’s merchandise. Spiegel

hired Boston-based Gordon Brothers Group, a retail-consulting firm,

to manage the close-out efforts at all 59 stores.

Spiegel will continue to operate 470 stores in the country.

First Bank & Trust to open branch in Costa Mesa today

First Bank & Trust in California will open a new branch today in

Costa Mesa.

A grand opening ceremony has been scheduled for 9 a.m. to 4 p.m.

The bank will show off a few vintage cars and hold a drawing for a

$500 U.S. Savings bond.

The opening day is the kickoff event of a week of promotions and

ceremonies that will wrap up Friday. The bank is at 3001 Harbor Blvd.

First Bank is one of the largest privately owned banks in the

country, with more than $7 billion in assets and over 150 locations

in California, Texas, Missouri and Illinois.

Options on Impac Mortgage begin trading on Amex

The American Stock Exchange began trading options Friday on

Newport Beach real estate investment trust Impac Mortgage Holdings

Inc.

The options opened with strike prices of 12 1/2, 15 and 17 1/2.

Highland Securities Corp. was named as the specialist.

Impac, whose stock also trades on the Amex under the symbol IMH,

is a trust that invests primarily in nonconforming residential

mortgage loans and securities backed by these loans.