ST. LOUIS - First Banks America Inc. of St. Louis, which operates banks in California and Texas, has agreed to buy Millennium Bank of San Francisco for $20.7 million in cash.

Millennium, founded in 1986, has $104 million of assets. The buyer, which has $1.1 billion of assets, is majority-owned by First Banks Inc., also of St. Louis, which has $5.2 billion of assets.

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