Shareholders of San Diego Trust Bank have approved the bank's sale to Pacific Premier (PPBI) in Irvine, Calif.

The $1.4 billion-asset Pacific Premier announced plans to buy the San Diego bank in March. Under the terms of the deal, Pacific Premier would pay about $30.6 million in cash and stock for San Diego Trust, which has three branches and $211 million in assets.

The acquisition, which is expected to close by the end of June, would allow Pacific Premier to enter San Diego County.

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.