A Los Angeles company formed two years ago to roll up community banks continues to do just that.

Grandpoint Capital announced late Monday that it is buying NCAL Bancorp, the holding company for the National Bank of California, a $341 million-asset bank with five branches in southern California. The deal would be Grandpoint's ninth — and seventh in California — since it was established with roughly $75 million of capital and would boost its assets to roughly $1.8 billion.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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