Grandpoint Buys Arizona Bank
December 15, 2010- Share:
Stone Point Capital-backed Grandpoint Capital has completed its acquisition of Southern Arizona Community Bank from Capitol Bancorp (NYSE: CBC). Grandpoint is a Los Angeles-based bank holding company and received a $100 million investment from Stone Point in June as part of a $335 million capital raise, $75 million of which was used to support the launch of Grandpoint Bank.
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