A California bank may be sold to an Indonesian.
Monterey Park-based Omni Bank said it has reached an agreement in principle to sell 100% of the bank’s stock to a Mr. Kadarisman, an Indonesian investor. The sale price, subject to adjustment, is about $18 million, according to Donald J. Rhoades, Omni’s president and chief executive. The bank has assets of about $121 million. The deal may fall through because of certain troubled loans on the bank’s books that federal regulators have instructed it to write off, the bank said.
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