Fresno-based Central Valley Community Bancorp, parent of Central Valley Community Bank, says Visalia Community Bank shareholders have approved CVCB's acquisition of the bank.
With the acquisition, the number of Central Valley branches jumps from 17 to 21. CVCB has a branch in Gold River.
The four Visalia banks will become Central Valley Community Bank-branded banks. Change of signage and operational systems is expected to be completed by the end of July.
The agreement valued the merger at about $22 million, or $52 per share, to Visalia Community Bank shareholders. The purchase price is to be paid half in cash and half in Central Valley Community Bancorp common stock.
Call The Bee's Mark Glover, (916) 321-1184.