SACRAMENTO, Calif. - Bank of San Francisco said it expects to reach a definitive agreement to sell its Sacramento regional office by June 30.
A spokesman for the bank said it has received expressions of interest from five prospective buyers. The bank plans to conduct due diligence until June 16 and to select a winning bidder on June 18.
A definitive agreement, if executed, is expected to contain customary terms and conditions, including obtaining all applicable regulatory approvals, the bank said.
The bank said that it has redefined its business plan in the past three months to focus on the San Francisco market