Rabobank in Roseville, Calif., has agreed to sell a branch in California to Plumas Bancorp in Quincy, Calif.
The $15 billion-asset Rabobank agreed to sell a branch in Redding, along with $15 million in deposits. No loans are including in the sale, which is expected to close in the third quarter.
"We've been looking for effective ways to expand in the Redding area since we entered that market in 2007," Andrew Ryback, president and chief executive of the $550 million-asset Plumas, said in a press release Tuesday. The transaction "will double our Redding deposit base and will complement our current branch network nicely."
Rabobank agreed last week to sell a branch in Murrieta, Calif., and $53 million in deposits, to Security California Bancorp in Riverside, Calif.