Bank Of The Sierra To Buy Woodlake Branch From Citizens Business Bank

(RTTNews) - Bank of the Sierra, the banking subsidiary of Sierra Bancorp (BSRR), announced late Wednesday that it has entered into an agreement with Citizens Business Bank, the banking subsidiary of CVB Financial Corp. (CVBF). Under the deal, Bank of the Sierra would acquire the deposits and certain assets of a branch of Citizens Business Bank located in Woodlake, California.

Pending regulatory approval, Sierra's purchase is scheduled to be completed in the fourth quarter of 2017.

Bank of the Sierra President and CEO Kevin McPhaill said, "Woodlake is a wonderful community with a growing economy and an exciting opportunity for expansion. We welcome the customers of the Woodlake branch into the Bank of the Sierra family, and we are committed to ensuring the transition goes smoothly for them."