Coast Federal Bank and Cenfed Bank said they have agreed to a swap of some branches and deposits, a move that both banks said would increase market share.

In the transaction, announced last week and expected to close next month, Los Angeles-based Coast Federal will purchase approximately $158 million in deposits from Cenfed branches in the suburbs of Glendora, Seal Beach, and Laguna Hills.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.