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 →
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.
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.
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.
