With final regulatory approval and more than...
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With final regulatory approval and more than 97% of the stock tendered, Citizens Bank of Costa Mesa has been sold to Australian industrialist Richard Pratt. The final purchase price was about $12.3 million, or $11.21 a share, and provided original investors with $740 for every $100 invested when the bank opened in December, 1972. The bank continues to operate under the same management.
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