Published: November 11, 2010
OneWest Bank Announces Purchase of $1.4 Billion Multifamily and Commercial Real Estate Loan Portfolio from Citibank
PASADENA, Calif. - (BUSINESS WIRE) - OneWest Bank, FSB today announced the purchase of a $1.4 billion
multifamily and commercial real estate loan portfolio from Citibank,
N.A. The portfolio, which includes approximately 600 loans, is a
strategic addition to OneWest Bank's growing Commercial Real Estate
"We are pleased to be able to work with Citibank to complete this
transaction. This portfolio purchase represents our ongoing commitment
to Commercial Real Estate lending. We are excited to add quality earning
assets to our balance sheet and look forward to providing all of the
banking services that OneWest has to offer to our new customers," said
OneWest Bank's President and CEO Joseph Otting.
The transaction closes immediately, and will be reflected on OneWest
Bank's fourth quarter financial statements. Terms of the transaction
were not disclosed.
To read the complete release at NewsBlaze,
OneWest Bank Announces Purchase of $1.4 Billion Multifamily and Commercial Real Estate Loan Portfolio from Citibank,
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