FRESNO, Calif. -- Vallicorp Holdings Inc. has completed its in-market merger with Mineral King Bancorp.
Mineral King, with assets of about $194 million, has five branches in Fresno, Kings, and Tulare counties. The merger will expand Vallicorp's market presence by increasing total assets about 20% and ranking it among the 10 largest bank holding companies headquartered in California.
Shareholders of Mineral King got 2.0103 shares of Vallicorp common stock for each share of Mineral King common stock.
The merger, along with Vallicorp's recently completed acquisition of Bank One Fresno, increases the parent's assets to more than $1.1 billion in 42 central California branches.