Bay Commercial Bank in Walnut Creek, Calif., has agreed to buy a branch from Community Banks of Northern California in Tracy.
The $104 million-asset Bay Commercial said that adding the Castro Valley branch would bring its total to three. The deal was announced Friday and is expected to close next quarter. The price was not disclosed.
Community Banks is one of three banks owned by the $2 billion-asset Community Bankshares Inc. in Greenwood, Colo.
At Sept. 30, noncurrent loans at Community Banks had risen to 4.94% of total loans, compared with 1.31% a year earlier, according to the Federal Deposit Insurance Corp.; fourth-quarter results were not available at the agency's site. It swung to a $946,000 loss in the third quarter, from a $374,000 profit.
