Security Pacific Bank

Security Pacific National Bank (SPNB) was a large U.S. bank headquartered in Los Angeles, California. In 1992, Bank of America acquired SPNB.

On September 1, 1868, Hellman, Temple and Co. opened in the then small town of Los Angeles. The banking firm was the predecessor of Farmers and Merchants Bank (1870), which was the predecessor of Security First National Bank. The bank earned a reputation for aggressive and creative business practices and benefited from economic and population growth in the Western United States. By the mid-20th century it had an international presence, and was ranked the fifth-largest bank in the United States and third-largest in California in terms of deposits.

In 1967, Security First National Bank bought Pacific National Bank and became Security Pacific National Bank.

In 1971, SPNB Security Pacific National Bank (SPNB) buys 69% of Bank of Canton.

In 1975, Security Pacific Bank constructed a 55-story tower in downtown Los Angeles, now known as Bank of America Plaza.

In 1978, computer consultant Stanley Rifkin learned the electronic codes Security Pacific used to telegraph funds to other banks. On October 25 he stole $10,200,000 from a non-existent account, executing one of the largest bank robberies in history. He used the funds to buy some 115,000 Russian diamonds in Switzerland, which he smuggled back into the United States and attempted to sell, but he was captured. Security Pacific took ownership of the diamonds but received few offers for such a large quantity. Eventually it was forced to sell them on unfavorable terms to a Liechtenstein firm affiliated with the De Beers company.

...
Wikipedia