A former Southern California based bank, it was founded in 1888 by Joseph F. Satori as the Security Savings Bank before being renamed to the Security and Trust Savings Bank of Los Angeles. The small bank was able to weather the Great Depression with its employees taking a 15% pay cut it also changed its name to the Security First National Bank. The company saw massive growth in the 1970s and had its final name change to the Security Pacific Bank. Under the leadership of Richard J. Flamson III the smalll localized bank expanded to having investments in Great Britain, Canada, and Australia.
It was aquired by Bank of America in 1992 due to the blunder of purchasing a failed bank in Arizona in 1985.