Coronado First Bank (NADO) in California has agreed to buy San Diego Private Bank for roughly $15.5 million in stock.
The $166 million-asset Coronado has branches in Coronado and in nearby downtown San Diego. It serves small businesses and real estate investors throughout Southern California.
The $129 million-asset San Diego Private Bank was formed in August 2006 to focus on private banking services for individuals and has since expanded into commercial and Small Business Administration lending.
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