West Virginian investor Marshall T. Reynolds has a deal to acquire Summit Savings, Rohnert Park, Calif., for $17.4 million.

Mr. Reynolds offered $10.35 a share-or about 1.44 times book value-for Summit, one of only two thrifts remaining in Sonoma County.

The deal would be Mr. Reynolds' first banking venture in the Golden State. He owns six banks or bank holding companies in Louisiana, Florida, and Kentucky.

The sale is expected to close by Aug. 1.

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