San Diego's Bank of Commerce took another step toward its $1 billion- asset goal, announcing plans this week to acquire Rancho Vista (Calif.) National Bank for about $37.4 million in stock.

In the pooling-of-interests deal, fast-growing Bank of Commerce has offered roughly $28.75 per share for Rancho Vista-a whopping 4.08 times book value. Acquiring $123 million-asset Rancho Vista would boost Bank of Commerce's assets to about $680 million.

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