First National Bank of Southern California announced Monday that it is acquiring First Mountain Bank in Big Bear Lake, Calif., in a deal that would roughly double its size.

First National, based in Riverside, said it would pay roughly $14.1 million in cash for First Mountain, creating a company with nearly $300 million of assets and 10 branches in San Diego, Riverside and San Bernardino counties. The purchase price is equal to $9 per share, but it could be lowered if First Mountain's shareholder equity falls below $12.175 million at the time the deal closes.

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