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CBC Bancorp, the holding company for Commercial Bank of California (CBC), is set to acquire Bay Community Bancorp, the holding company for Community Bank of the Bay (CBB), in an all-cash transaction valued at $14.00 per share. This merger combines institutions from two of California's largest banking markets, resulting in approximately $3.5 billion in combined assets. The acquisition is expected to close in late 2024 or early 2025, subject to regulatory and shareholder approvals. Post-acquisition, CBB will transition to a privately held bank under CBC, maintaining its name and operations in the San Francisco Bay Area. This union aims to enhance product offerings, community impact, and operational scale. Both institutions will benefit from increased investments and a shared commitment to community service and development.
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