Fidelity’s Parent Company to Buy Hancock Savings
- Share via
The parent company of Fidelity Federal Bank has reached an agreement to purchase Hancock Savings Bank in a $12-million stock deal.
Bank Plus Corp., the parent of Glendale-based Fidelity Federal Bank, said that Hancock’s shareholders will receive about $9 to $9.22 worth of common shares of stock in Bank Plus for every share of Hancock.
Hancock has five branch offices in Los Angeles County with assets of about $202 million.
Fidelity Federal is a savings and loan with assets of $3.3 billion.
The deal is expected to be approved by government regulators by the end of July.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
