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Founders Community Bank in SLO being acquired

By   /  Monday, October 31st, 2016  /  Banking & Finance, Banking Industry, Central Coast, Latest news, Tri-County Economy  /  Comments Off on Founders Community Bank in SLO being acquired

Fresno-based Premier Valley Bank will acquire San Luis Obispo-based Founders Community Bank in a stock-and-cash transaction valued at approximately $29.1 million, or $21.87 per share, the companies announced on Oct. 31. The parent company of Premier, Heartland Financial USA, aims to acquire Founders, a wholly-owned subsidiary of Founders Bancorp, in a 70 percent stock and Read More →

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Heritage Oaks Q4 profits jump 24%

By   /  Tuesday, February 3rd, 2015  /  Banking & Finance, Banking Industry, Central Coast, Latest news, Top Stories  /  Comments Off on Heritage Oaks Q4 profits jump 24%

The increase was primarily due to the inclusion of Mission Community Bancorp’s operating results, which boosted pre-tax net income in the company’s fourth quarter financials.

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Heritage Oaks to cut 60 jobs as Mission Community deal closes

By   /  Friday, March 7th, 2014  /  Banking & Finance, Banking Industry, Central Coast, Top Stories, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Heritage Oaks to cut 60 jobs as Mission Community deal closes

With its $56 million acquisition of Mission Community Bancorp, Heritage Oaks will shutter branches along the Central Coast in coming months and lay off about 60 employees in several phases.

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Heritage Oaks and Mission Community merger to close Feb. 28

By   /  Thursday, February 20th, 2014  /  Banking & Finance, Banking Industry, Central Coast, Top Stories, Tri-County Economy  /  Comments Off on Heritage Oaks and Mission Community merger to close Feb. 28

The $56 million deal will make Heritage Oaks the largest community bank in the Tri-Counties, with about $1.6 billion in assets.

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Mission Community shareholders approve $56M acquisition

By   /  Tuesday, February 18th, 2014  /  Banking & Finance, Banking Industry, Central Coast  /  Comments Off on Mission Community shareholders approve $56M acquisition

Shareholders of San Luis Obispo-based Mission Community Bancorp have voted overwhelmingly in favor of a proposed merger with Heritage Oaks Bancorp out of Paso Robles. The $56 million deal was announced in October 2013 and would leave Heritage Oaks as the survivor and the largest bank based in the Tri-Counties.

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Heritage buy sets stage to compete in big leagues

By   /  Friday, October 25th, 2013  /  Banking & Finance, Banking Industry, Central Coast, East Ventura County, South Coast, Top Stories, Tri-County Economy, West Ventura County  /  Comments Off on Heritage buy sets stage to compete in big leagues

With its $56.4 million purchase of another Central Coast bank, Heritage Oaks Bancorp lays the foundation to build the region’s next big community banking franchise and emerges as the dominant player in the market.

Paso Robles-based Heritage Oaks said Oct. 21 that it is buying Mission Community Bank, based in San Luis Obispo, in a cash-and-stock deal expected to close in the first quarter of 2014. The combined bank would have $1.5 billion in assets, making it the largest bank based in the Tri-Counties.

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Timing is everything with $56M Central Coast banking merger

By   /  Friday, October 25th, 2013  /  Columns, Opinion  /  Comments Off on Timing is everything with $56M Central Coast banking merger

Regulators will have one less bank to regulate and the combined bank will get benefits from economies of scale.

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