Newport Beach-based Genesis Bank is acquiring Beverly Hills-based Excel Bank in an all-cash transaction. The price wasn’t disclosed.
Founded in 2005, Excel Bank is known for serving small businesses and their owners, multifamily and commercial real estate investors, owners, and their operations, as well as property management companies and homeowners associations across Southern California. As of Dec. 31, Excel Bank had $300 million in total assets, $238 million in loans, $242 million in deposits, and $23 million in tangible common equity.
The combination will have projected total assets in excess of $400 million.
“We look forward to welcoming and supporting Excel Bank’s clients and to working with the Excel team on a smooth and seamless integration process,” Genesis Bank Chairman and Chief Executive Stephen H. Gordon said in a statement. “Genesis Bank was founded and built for scale, both organic and acquisitive, with a leading technology platform on par with money-center bank capabilities, and veteran leadership and banking expertise.”
The transaction is expected to close by mid-2025 and is subject to Excel Bank receiving approvals from regulators and shareholders as well as satisfying customary closing conditions. Genesis Bank was advised in this transaction by its legal counsel, Holland & Knight LLP. Excel Bank was advised in this transaction by its legal counsel, Richard E. Knecht, attorney at law.
