Simpson Thacher Represents Acquisition Group in $460 million Acquisition and Recapitalization of Bay Cities National Bank
10.01.10
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Simpson Thacher represented a team of bank executives, led by Stephen Gordon, in their $460 million acquisition and recapitalization of Bay Cities National Bank. The transaction, which closed on September 30, involved equity investments from 25 private equity and other investors and the conversion of the bank into a California state-chartered institution, named Opus Bank. The recapitalized bank plans to expand both organically and through FDIC-assisted and other acquisitions throughout the Western region of the U.S.
The Simpson Thacher team included Lee Meyerson, Ed Chung, Mark Chorazak, Kevin Lehpamer and Daeyna Grant.