American Commercial Bank, Ventura, Calif., with $134 million of assets, signed a definitive agreement July 7 to buy neighboring Channel Islands Bank in a tax-free stock swap.

The combined operation would have $220 million of assets, seven branches, and 145 employees in Ventura, Oxnard, and Camarillo.

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.