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First National Bank of Southern California to become C3 subsidiary

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First National Bank of Southern California to become C3 subsidiary

A reorganization at will see the Riverside, Calif.-based bank become thewholly owned subsidiary of C3Bancorp.

Notice of the holding companyformation was filed with the Federal Reserve Bank of San Francisco on Feb. 22and updated March 7.

A 1-for-1 exchange of bank sharesfor C3 shares will mean First National's seven shareholders will maintain thesize of their stakes.