Orange County Company Acquires Bank Serving Central, South Coasts
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.