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Dispositions
3 Months Ended
Mar. 31, 2019
Dispositions And Held-For-Sale Classification [Abstract]  
Dispositions
Dispositions

On March 17, 2018, the Bank completed the sale of its eight Desert Community Bank (“DCB”) branches located in the High Desert area of Southern California to Flagstar Bank, a wholly-owned subsidiary of Flagstar Bancorp, Inc. The assets and liability of the DCB branches that were sold in this transaction primarily consisted of $613.7 million of deposits, $59.1 million of loans, $9.0 million of cash and cash equivalents and $7.9 million of premises and equipment. The transaction resulted in a net cash payment of $499.9 million by the Company to Flagstar Bank. After transaction costs, the sale resulted in a pre-tax gain of $31.5 million during the three months ended March 31, 2018, which was reported as Net gain on sale of business on the Consolidated Statement of Income.