Source Pravda.Ru

US Bank National Association to acquire Mellon 1st Business Bank in California

U.S. Bank National Association is going to acquire Mellon 1st Business Bank in California.

Mellon 1st Business Bank in California is a subsidiary of the Bank of New York Mellon Corporation, that appeared in 2007 as a result of merger between Mellon Financial Corporation and Bank of New York.

The deal will bring U.S. Bank about $3.4 billion in assets, $1.1 billion in loans and $2.7 billion in deposits. The terms of the merger are still concealed.

The next step of the deal is to get regulatory approval by the end of the second quarter 2008.