First PacTrust Completes Gateway Business Bank Acquisition

8/20/2012 12:42 PM ET

First PacTrust Bancorp, Inc. (BANC: Quote), the holding company for PacTrust Bank and Beach Business Bank, Monday said it has closed its acquisition of Gateway Business Bank for $15.5 million.

Upon closing, Gateway merged into PacTrust Bank. Mission Hills Mortgage Bankers, a division of Gateway, and its 22 loan production offices in California, Arizona, Oregon and Washington, became a division of PacTrust Bank.

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