Arizona Bank To Buy Fountain Valley's Centennial Bank

From the Orange County Register

A judge on Tuesday approved the sale of Fountain Valley's Centennial Bank, more than four years after the bank's parent company filed for bankruptcy.

Western Alliance Bancorporation, a Phoenix-based multi-bank holding company, will pay at least $57.5 million in cash for Centennial and merge it with affiliate Western Alliance Bank.

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A reader noted that there's an FDIC C&D order against Centennial Bank. He suspects that when the merger happens, rates will plunge.