SAN DIEGO, June 17 /PRNewswire/ -- Bank of Commerce (Nasdaq: BCOM)
announced today that on June 15, 1999, its shareholders approved the terms of
the proposed acquisition of Bank of Commerce by U. S. Bancorp (NYSE: USB).
The closing of the transaction is pending final approval by the Office of the
Comptroller of Currency.
Bank of Commerce, one of the nation's largest Small Business Association
(SBA) lenders and the largest SBA lender in California in dollars loaned,
signed a definitive agreement on February 18, 1999, to be acquired by
Minnesota based U. S. Bancorp (NYSE: USB). A copy of the Agreement and Plan
of Reorganization between U. S. Bancorp and Bank of Commerce is filed with
both the Federal Reserve Bank system and the Nasdaq under cover of a Form 8-K.
Bank of Commerce presently operates 23 loan production offices in
California, Arizona, Nevada, Idaho, Washington, Oregon, Colorado, Texas,
Illinois, New Mexico, Utah, and Georgia. In addition, Bank of Commerce
operates 10 full service branches in Southern California.
SOURCE Bank of Commerce
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http://www.prnewswire.com/comp/107344.html or fax,
800-758-5804, ext. 107344
CONTACT:
Peter Q. Davis, Chairman, President & Chief
Executive Officer, 619-232-2096, or Gary Cristofani, Executive
Vice President, Chief Financial Officer, 619-536-4540, ext. 139,
or Margaret Kuhn, First Vice President/Investor Relations,
619-232-2096, all of Bank of Commerce
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