Manatt’s representation of the California Bankers Association in its recently announced merger with Western Independent Bankers was covered by American Banker. Jordan Hamburger, co-chair of Manatt’s Mergers and Acquisitions practice, led the Manatt team with support from tax, employee benefits and executive compensation partner David Herbst; insurance recovery partner Stephen Raptis; employment and labor partner Sharon Bauman; and corporate and finance associate Darren Kerstein.
The CBA will handle state, federal and regulatory advocacy activities, and WIB will oversee conference and educational efforts—combined, the group will serve nearly 250 members. Simone Lagomarsino, the CBA’s President and CEO, will lead the combined association as the board expands to include six WIB directors who represent banks outside of California.
“We intend to preserve the legacies of both associations as we merge,” said Lagomarsino in a press release, “and we will work together to create an even stronger organization that leverages the unique strengths of the CBA and the WIB.”
Daily Journal, ABF Journal, ABL Advisor, Bank News and CB Insight also covered Manatt’s representation of the CBA. The groups’ members will vote on the merger later this month. If it is approved, the associations are expected to complete the merger by the end of this year.