West L.A. Bank Deal: The two top...
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West L.A. Bank Deal: The two top executives of Western United National Bank in West Los Angeles have reached an agreement to acquire control of the institution from International Capital Trust, a British company with headquarters in Geneva. Robert T. Shmaeff, chairman of Western United, and Steven I. Fried, its president and chief executive, will acquire 75% of the bank’s stock from ICT. The sale of the bank, which has assets of $15 million, is subject to regulatory approval and other contingencies.
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