After months of delay, a would-be California banking company is once again planning a public offering to fund the purchase of two community banks.

Laguna Hills-based Pacific Community Banking Group - which currently owns no banks-said last week that it would sell 3.7 million shares of its stock at $15 to $16 per share. Proceeds from the proposed $60 million offering would be used to buy two institutions in Riverside County, Calif.: Bank of Hemet and Valley Bank in Moreno.

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