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Mechanics Buys Scott Valley Bank

Mechanics Bank (OTCBB: MCHB) said it will acquire Learner Financial Corp., the bank holding company for Scott Valley Bank, to add $692 million in assets. Terms weren’t disclosed.

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OC 500: John William DeCero

Co-founded California Republic Bank … sold 2016 for $332M—50% premium on prior day’s close—to Mechanics Bank, named chief executive … largest in NorCal’s East Bay with $5.6B assets, 1K workers … No. 18 local:

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