Fresno banking firm to acquire Folsom-based Sierra Vista Bank

Central Valley Community Bancorp in Fresno will acquire Folsom-based Sierra Vista Bank under terms of a definitive agreement announced by both banking firms.

Sierra Vista operates branches in Folsom, Cameron Park and Fair Oaks and has more than $150 million in assets.

Officials said the purchase transaction has a value of about $24 million.

Officials estimate that the acquisition will be finalized in this year’s fourth quarter.

Sierra Vista banks will become Central Valley Community Bank branches, CVCB officials said on Monday.

This story was originally published May 2, 2016 at 11:21 AM with the headline "Fresno banking firm to acquire Folsom-based Sierra Vista Bank."