Shares of SierraWest Bancorp of Truckee, Calif., jumped more than $3 on Thursday, to $24.125, on rumors that the company would be bought by a Northern California competitor.

Industry watchers speculated that Westamerica Bancorp., a $3.9 billion- asset company in San Rafael, Calif., is seeking to buy SierraWest, which has been under pressure from boutique fund managers to sell.

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