Commercial Bank of California Snapped Up

Commercial Bank of California (CBC), which is based in Irvine, is being acquired by National Bank of California (NBC), which is based in Brentwood. The transaction is expected by officials to close early next year.

CBC had reportedly a total of $320 million in assets and $274 million deposits this last summer, and it also has branches in Irvine and Brea. Meanwhile, NBC had about $372 million in assets and $336 million in deposits as of late June, and it has one in Costa Mesa as well as three locations in the Los Angeles area.