SierraWest Bancorp of Truckee, Calif., has announced plans to acquire Continental Pacific Bank, Vacaville, Calif., for roughly $39 million in stock.

Under terms of the deal, SierraWest would exchange shares of its common stock with shareholders of Continental Pacific's parent, California Community Bancshares, at ratio based on the stock price three weeks before the deal's completion.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.