Seacoast Commerce Bank in San Diego has created a new holding company.

The bank merged into Seacoast Commerce Banc Holdings on Monday in a move approved in late October by the Federal Reserve Bank of San Francisco.

"Having a holding company provides us with additional flexibility when it comes to capital raising alternatives and business opportunities," Richard Sanborn, the company's president and chief executive, said in a press release.

Seacoast operates in several states, including Nevada, Arizona, Colorado, Texas and Washington.

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