Los Angeles National Bank to Get New Owner

Royal Business Bank is expected to complete its acquisition of Buena Park-based Los Angles National Bank by the end of next week, according to Juan Sandoval, assistant vice president.

Sandoval, who is also treasurer of the Echo Park Chamber of Commerce, told Echo Park-Silver Lake Patch that very little will change at the branch at 1912 Sunset Blvd., which has served the community for at least three decades.

"You will see the same faces," he said. "People will keep the same bank account numbers," he said.

Sandoval did say that the Los Angeles National Bank sign, familiar to those passing through Echo Park on Sunset at the iconic Citibank plaza, will be replaced by one for Royal Business Bank.

According to American Banker, the purchase was announced in early January. But it was only now that the deal is closing, said Sandoval.

He told us he's still not exactly certain when ownership will pass, but said it was likely to be around the 17th.

Buena Park-based Los Angeles National Bank has four locations, including one in Orange County.

According to Sandoval, the current Echo Park location in the iconic Citibank building originally housed the Silver Lake Bank, which served the area's then-thriving Cuban-American population.

Sandoval said the independent bank was eventually acquired by Hong Kong Bank, which was eventually purchased by Los Angeles National Bank.

He said some of his current customers have been coming to the bank for at least 30 years.