Folsom-based Sierra Vista Bank said today that it has entered into a securities purchase agreement with Taylor International Fund Ltd. to purchase about $1.7 million of the bank's common stock.
The bank expects the transaction, which is subject to regulatory approvals and other closing conditions, to be completed by the second quarter 2013.
The bank recently completed a separate public offering that raised more than $2 million.
Bank officials said they intend to use the additional capital to expand lending practices and pursue future growth opportunities.
Sierra Vista has branches in Folsom and Cameron Park.
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