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Bank of the Sierra completes acquisition of Citizen Business Bank in Woodlake

Bank of the Sierra completes acquisition of Citizen Business Bank in Woodlake

@TheSunGazette

WOODLAKE – As of last Friday, Nov. 3 the Bank of the Sierra is the proud new owner of a Woodlake branch. Just last week the bank announced their completion of its acquisition of the Woodlake Branch of Citizens Business Bank on Friday, November 3, 2017. The Woodlake Branch is located at 232 N. Valencia Boulevard, Woodlake, CA 93286.

Existing customers can now take advantage of Bank of the Sierra’s wide variety of products and services and gain access to a growing number of convenient locations and ATMs.

Kevin McPhaill, Bank President and CEO, expressed his enthusiasm about the acquisition, “We are excited about this expansion. Woodlake is a wonderful part of Tulare County and we look forward to becoming part of the Woodlake community.”

In the past few years, Bank of the Sierra has branched out to various locations across the Central Valley and beyond. They are no longer only rooted in communities close to the Sierra Nevada mountains, from which they derive their name. In 2014, Sierra Bancorp acquired Santa Clara Valley Bank in the Santa Clara Valley of Southern California for $15.3 million. In 2016, Sierra Bancorp acquired Coast Bancorp, the holding company for Coast National Bank, in a deal worth $13.8 million.

Recently, Sierra Bancorp began to acquire banks once again in the foothills area. In 2016, Sierra Bancorp made a similar deal with Citizens Business Bank in Porterville. In that deal, the Bank of the Sierra acquired approximately $22 million in deposits and approximately $1 million in loans from the Porterville bank. There are also branches of the Bank of the Sierra in locations such as Exeter, Lindsay, Farmersville and Three Rivers.

Bank of the Sierra is in its 40th year of operations and is the largest independent bank headquartered in the South San Joaquin Valley. Bank of the Sierra is a community-centric regional bank, which offers a full range of retail and commercial banking services via 39 full-service branches located throughout California’s South San Joaquin Valley and neighboring communities, on the Central Coast, and in Southern California locations including the Santa Clara Valley.

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