FRESNO, Calif - The shareholders of Vallicorp Holdings Inc. and Pacific Bancorp. voted at separate meetings to approve the companies' proposed merger.
In each case more than 97% of common shares were voted in favor. The companies expect to complete the transaction, pending regulatory approvals, around midyear.
Vallicorp, a two-bank holding company with $464 million in assets, would grow to $670 million on a pro forma basis.