SANTA MONICA, Calif. — Professional Bancorp’s shareholders have approved the deal to sell the company to First Community Bancorp for $16.2 million.

In a press release Wednesday, Professional Bancorp said it expects the deal to close early in the first quarter. Shareholders gave the approval in a special meeting held Tuesday.

Professional Bancorp shareholders are to receive either $8 a share or 0.55 shares of First Community per share.

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