First Choice Bancorp announces FDIC approval of proposed merger, CEO scheduled to meet with …
First Choice Bancorp (“First Choice” or the “Company”), the holding company of First Choice Bank (the “Bank”), and Pacific Commerce Bancorp (OTC Pink: PCBC), the holding company for Pacific Commerce Bank, previously announced the proposed merger of Pacific Commerce Bancorp with and into First Choice Bancorp (the “Merger”) on February 26, 2018, before the market opened. On May 10, 2018, First Choice was advised by the Federal Deposit Insurance Corporation (the “FDIC”) that the Merger was approved. This wsa subject to the completion of certain conditions in the approval order. In addition, the Board of Governors of the Federal Reserve System (the “Board”) has advised First Choice. They advised that subject to FDIC approval, the Board has waived the requirement for a separate application. The approval of the Merger from the California Department of Business Oversight is pending.
Robert M. Franko, the President and CEO of First Choice, will be meeting with investors at Piper Jaffray’s Financial Service Conference from May 14, 2018 to May 16, 2018 in Palm Beach, Florida. There, they will discuss Company’s historical performance and the pending merger with Pacific Commerce Bancorp.
About First Choice Bancorp
First Choice Bancorp is the registered bank holding company for First Choice Bank. First Choice Bank, headquartered in Cerritos, California is a community-focused financial institution, serving diverse consumers and commercial clients and specializing in loans to small businesses, private banking clients, commercial and industrial loans, and commercial real estate loans with a niche in providing finance for the hospitality industry. The Bank is a Preferred Small Business Administration (SBA) Lender. Founded in 2005, First Choice Bank has quickly become a leading provider of financial services. We enable our customers to grow, maintain strength, and achieve their business objectives. We strive to surpass our clients’ expectations through our efficiency and professionalism and are committed to being “First in Speed, Service, and Solutions.” First Choice Bancorp stock is now traded on the Nasdaq Capital Market under the ticker symbol “FCBP”.
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