SAN FRANCISCO - Doubling the size of its California operations, Detroit-based Comerica Inc. has agreed to buy Pacific Western Bancshares, the largest independent bank company in the Santa Clara-silicon Valley region.

The stock-swap transaction is valued at about $133 million, based on the $29 price at which Comerica's shares closed on Wednesday. That would translate to a purchase price equal to about 1.58 times Pacific Western's book value.

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