In Brief: Santa Barbara Bank Eyes $16M Acquisition

Santa Barbara Bancorp would expand its presence in Ventura County with the planned acquisition of a 70-year-old community bank.

The $1.34 billion-asset bank has agreed to buy Citizens State Bank, an $86.4 million-asset institution with three branches, for $16.17 million in cash. The deal is expected to close at the end of the third quarter.

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