DMG Bancshares Inc. to Acquire Liberty Bancorp
Summary
“I am pleased to announce that Liberty has agreed to join DMG to create a stronger combined business banking platform with greater scale,” said Don Griffith, Chairman and Chief Executive Officer of DMG Bancshares, Inc. “Liberty is a respected banking institution which has focused on serving the needs of small and medium sized businesses in the vibrant San Francisco Bay Area economy.” Mr. Griffith continued, “This acquisition adds to our momentum in creating a premier business bank in California. We are eager to welcome the talented employees and loyal customers of Liberty into DMG, and we look forward to our combined success going forward.” Bruce Farrell, President, Chief Executive Officer & Director of Liberty, added, “We are very excited to join DMG and believe this combination will deliver significant value to our shareholders and great opportunities for our clients and employees. The executive officers and majority of the staff are all alumni of and were instrumental in the success of Grandpoint Bank which operated in Los Angeles from 2010 until it was sold in 2018. These statements involve inherent risks, uncertainties and contingencies, many of which are difficult to predict and are generally beyond the control of DMG, Liberty and the combined company. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements.