First Interstate Completes Bank of A. Levy Takeover
All branches and customer accounts of the former Bank of A. Levy have been taken over by First Interstate Bank, completing the Los Angeles-based bank’s acquisition of the historic Levy institution.
The conversion, completed late last month, gives First Interstate 19 branches in Ventura County, up from eight before the merger.
In addition to changing all of Ventura-based Bank of A. Levy’s signs, automatic teller machines and computer systems, First Interstate acquired more than 65,000 former Levy customer accounts.
In an effort to ward off other banks that are wooing former Levy customers, First Interstate is offering them free checking accounts for three months.
About 100 Bank of A. Levy employees lost their jobs in the merger.
As a result of the acquisition, three Bank of A. Levy offices and three First Interstate offices were closed.
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