Billed as a “merger of equals,” the deal will create a $4.6 billion-asset company with a presence in some of California’s strongest areas for mid-market business banking.
“The expanded scale and capabilities we will have as a result of this merger will enhance our ability to continue adding attractive full banking relationships with commercial clients that provide operating deposit accounts and high quality lending opportunities, as well as enabling us to move up market and work with larger businesses,” Steven Shelton, CEO of California BanCorp, said in a press release Tuesday.
