REDDING, CALIF. — North Valley Bancorp said it received regulatory approval from the Federal Reserve Bank of San Francisco and the Office of the Comptroller of the Currency for its pending merger with Six Rivers National Bank.

North Valley agreed to sell one branch, including all associated deposits and loans, to meet the branch divestiture requirement of the Federal Reserve Board. The Six Rivers branch, in Weaverville, Calif., includes about $17 million in deposits and $800,000 in loans.

“With a total of 19 branches and over $530 million in assets, we will be able to create synergies and efficiencies that were previously unobtainable by the two separate banks,” Michael Cushman, North Valley president and chief executive said in a press statement.

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