U.S. Bancorp said Monday it has agreed to buy California Bancshares of San Ramon for stock valued at $327 million.
The deal, at a hefty 2.5 times book value, would nearly double U.S. Bancorp's California banking assets, currently about $2 billion.
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.
Have an account? Sign In