Genesis Bank to Complete Acquisition of Beverly Hills-Headquartered Excel Bank
Acquisition targeted to close mid-June 2025
Newport Beach-based Genesis Bank has announced that it has received all necessary regulatory approvals, as well as approval from the shareholders of Excel Bank, a tradename of EH National Bank, to complete its previously announced agreement to acquire Excel. The acquisition is expected to close in mid-June 2025.
'Over these past couple of months, we have been able to gain a deeper understanding of Excel's market presence, client base, team talent, products and services, and we are enthusiastic about this 'in-market' acquisition,' said Stephen H. Gordon, chairman and chief executive officer of Genesis Bank. 'We plan to leverage Excel's prime banking office located in Beverly Hills in the Rolex building at 9420 Wilshire Blvd. at Canon Dr. as Genesis Bank's 'Los Angeles Headquarters,' and in Temecula at 27720 Jefferson Ave. along the 15/215 Freeway corridor as the Bank's 'Inland Empire Headquarters.'
We have already strategized around the numerous opportunities to do more business with existing and prospective clients of Genesis Bank and Excel Bank, utilizing our leading technology platform and comprehensive depository and treasury cash management products, services and solutions. We are excited to hit the ground running once we officially close this acquisition, while making an even greater impact on the communities we serve across Southern California. Accordingly, we greatly look forward to welcoming Excel Bank's clients to Genesis Bank and our expanded team and market presence.'
Gordon added, 'We are pleased to have received all necessary regulatory and shareholder approvals, thereby enabling Genesis Bank to move forward to complete and close the acquisition of Excel Bank in mid-June 2025. Additionally, we are targeted to seamlessly complete the systems integration of Excel's core banking platform shortly following the completion of the acquisition, which will enable Excel clients to then immediately access and utilize Genesis Bank's suite of sophisticated commercial banking products, services and solutions, all supported by talented bankers and delivered through a technology platform that is on par with larger money-center banks.'
Genesis Bank is a California state-chartered commercial bank focused on serving the financial needs of small to mid-sized businesses and owners and investors in income-producing multifamily and commercial real estate located in the Bank's target markets of Los Angeles, Orange, Riverside and San Bernardino Counties.
Information was sourced from BusinessWire. To learn more, contact whan@mygenesisbank.com.
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