CORPORATE DEPARTMENT NOTABLE TRANSACTIONS

Jeff Tisdale and David Rosen represented the firm's client, Santa Ana Business Bank, in connection with its recent acquisition by Grandpoint Capital Inc. a Los Angeles based financial services firm. The transaction started as a private placement by the Bank raising capital from hedge fund investors but transformed into a straight cash-out merger by Grandpoint.  Grandpoint raised significant capital from hedge funds, acquired all of the outstanding stock of SABB and recapitalized SABB.  The transaction received approvals from the Federal Reserve Board, the Federal Deposit Insurance Corporation and the California Department of Financial Institutions and closed on June 18, 2010.