AltaPacific in California Creates BHC

AltaPacific Bank is now a unit of AltaPacific Bancorp.

The $79 million-asset Santa Rosa, Calif., company said late Friday that it had formed a bank holding company. All stock in the bank was transferred to the company.

AltaPacific said in a press release that a holding company allows "additional flexibility in our plans for growth and expansion."

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