Bank of Beverly Hills considers sale
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Beverly Hills Bancorp Inc., the holding company of First Bank of Beverly Hills, said its board would consider selling the company.
The Calabasas-based company said in a Securities and Exchange Commission filing that it had hired Hovde Financial Inc. as an investment advisor but that there was no assurance the banking firm would pursue a transaction.
Earnings at Beverly Hills Bancorp fell to $14.8 million last year from $15.1 million in 2005. The bank, which focuses on loans on commercial real estate, including apartments, extended $337.4 million in loans last year. It ended 2006 with $850.9 million in deposits.
Trading in the company’s shares was halted Wednesday before the announcement.
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