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OneCalifornia Bank to acquire ShoreBank Pacific and provide growth capital to extend beneficial banking from California to the Pacific Northwest.
Oakland, Calif. — August 21, 2010 — OneCalifornia Bank and ShoreBank Pacific announce the signing of a stock purchase agreement for the acquisition of ShoreBank Corporation's Pacific Northwest subsidiary, ShoreBank Pacific, by OneCalifornia Bank. The purchase, which is subject to regulatory and other approvals, will result in an institution with combined assets of approximately $300 million. "The biggest beneficiaries of this merger are the communities we serve." said David Williams, CEO of ShoreBank Pacific. Read the full press release:
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