Heritage Oaks Bancorp Sells for $482M

Pacific Premier to Buy Heritage Oaks in California
– American Banker

American Banker covered Manatt’s representation of Heritage Oaks Bancorp in its sale to Pacific Premier Bancorp. The Manatt deal team was led by Jordan Hamburger, a partner in the firm’s corporate and finance practice.

Pacific Premier paid $482 million for the $2 billion-asset Heritage Oaks, creating a new combined entity that now holds total assets of approximately $6 billion. The deal closed on April 1, 2017.

Heritage Oaks, led by president and CEO Simone Lagomarsino, a former American Banker Community Banker of the Year, has 12 branches, $1.3 billion in loans and $1.6 billion in deposits.

In addition to Hamburger, the team included partners Sharon Bauman, Peter Duchesneau, Mick Grasmick, David Herbst, Brian Kelly, Jeffrey Mannisto, Craig Miller, and Tom Muller, with associates Cailey Hagenson and Veronica Lah.

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