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Pacific Trust buying Ivanhoe building

Pacific Trust Bank announced it has entered into an agreement with the Federal Deposit Insurance Corporation to purchase the building located at 7877 Ivanhoe Ave.

It was formerly owned and occupied by San Diego National Bank, which was closed by the FDIC in October 2009. The purchase of the building is expected to close during November, and Pacific Trust Bank anticipates opening its newest branch in that location early in 2011, subject to regulatory approvals.