Community Bancorp of Las Vegas has its first acquisition deal; it is buying Bank of Commerce in the suburb of Henderson for $40 million in cash and stock.
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The target has two branches in Las Vegas and one in Henderson, where Community has none. All three would become Community Bank of Nevada branches. The buyer is 10 years old and has $634 million of assets; the seller, age 6, has $167 million. Their deal was announced Thursday and is expected to close in the fourth quarter.
Community sold 2.2 million shares five months ago in an initial public offering.
