Business & Real Estate

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.

Mark Glover: 916-321-1184, @markhglover