Bank of Stockton in California has agreed to acquire three California branches from First Banks in Clayton, Mo., according to The Record in Stockton.
The $2.4 billion-asset Bank of Stockton this week agreed to buy an office in Fairfield from First Banks. That deal is in addition to its March agreement to acquire offices in Brentwood and Napa from the $6 billion-asset First Banks.
Terms of the deals were not disclosed. The Fairfield branch deal is expected to close in September pending regulatory approval, The Record reported. The Stockton newspaper did not report the projected closing date for the Brentwood and Napa branch acquisitions.
The March transaction would give Bank of Stockton its first offices in Contra Costa and Napa counties in northern California. The three branch deals combined would bring Bank of Stocktons total office count to 19.
First Banks will have 50 branches in California after the Bank of Stockton deal closes. First Banks recently reached an agreement with Fidelity Southern in Atlanta to sell its Florida branch network.
Both Bank of Stockton, which is owned by 1867 Western Financial, and First Banks are privately owned.