Time has run out on a proposed deal between two California banks.

Commercial Bank of San Francisco announced last November that it would buy Lippo Bank for $17 million. But Lippo pulled the plug on the deal last week after Commercial Bank failed to meet a March 1 deadline to raise about $10 million from private sources.

"We ran out of time," said Robert A. Fuller, president of $183 million- asset Commercial Bank.

Lippo still seeks a buyer. The $92 million-asset bank, with offices in Los Angeles and San Jose, is owned by Indonesian investor James T. Riady, whose family made headlines in 1997 with its alleged ties to a Democratic fund-raising scandal.

James E. Per Lee, president of Lippo, said other California banks have shown interest. He said he expects to close a deal this year.

"They're dusting off their offers," Mr. Per Lee said.

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