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Orange County Company Acquires Bank Serving Central, South Coasts

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An Orange County banking company is buying a bank serving the Central and South Coasts.

Pacific Premiere Bancorp has reached a $400 million dollar stock deal to purchase Heritage Oaks Bancorp. Heritage Oaks, which is based in Paso Robles, has 12 branches in Santa Barbara, and San Luis Obispo Counties, and a loan processing center in Ventura County.

The deal extends Irvine-based Pacific Premiere’s reach from Paso Robles to San Diego. In a statement, Pacific Premiere says Heritage Oaks will continue its current operations, and that existing customers might not even realize a change has occurred.

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