CVB Financial in Ontario, Calif., has agreed to sell a branch Sierra Bancorp in Porterville, Calif.
The $1.8 billion-asset Sierra said in a press release Monday that it will also gain $22 million in deposits and about $1 million in loans associated with the Porterville branch. The deal is expected to close in the second quarter.
Sierra said it plans to keep the branch's current employees, though the location will be merged with one of its existing offices.
CVB has $7.7 billion in assets.