After several months of negotiations, PBOC Holdings of Los Angeles has struck a deal to buy BYL Bancorp in Yorba Linda, Calif., for $39 million in cash.

BYL, the holding company of $322 million-asset Bank of Yorba Linda, revealed in a Securities and Exchange Commission filing in August that it had begun talks with $3.3 billion-asset PBOC, the holding company for Peoples Bank of California. When they learned of the discussions, a number of BYL shareholders urged management to complete the sale.

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