65.4 F
Laguna Hills
Thursday, May 21, 2026

Mechanics Bank Buys Rabobank for $2.1 Billion

Mechanics Bank, whose Chief Executive John DeCero splits half of his time in its Irvine office, purchased Rabobank N.A. for $2.1 billion.

Mechanics Bank will acquire Rabobank’s retail, business banking, commercial real estate, mortgage and wealth management businesses. Not included in the transaction are Rabobank food and agribusiness assets, most of which will transfer to its affiliate, Rabo AgriFinance located in St Louis.

Roseville-based Rabobank has more than $13 billion in assets and 100 branches. Mechanics Bank, which is based in Walnut Creek, has 44 branches and more than $6 billion in assets.

The acquisition will permit Mechanics Bank to expand its capabilities, DeCero told the Business Journal.

“We hope to do a lot more business in Orange County because of it,” DeCero said.

Rabobank is a subsidiary of RaboBank Group of the Netherlands. The acquisition is expected to close in the third or fourth quarter this year, DeCero said.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Would you like to subscribe to Orange County Business Journal?

One-Year for Only $99

  • Unlimited access to OCBJ.com
  • Daily OCBJ Updates delivered via email each weekday morning
  • Journal issues in both print and digital format
  • The annual Book of Lists: industry of Orange County's leading companies
  • Special Features: OC's Wealthiest, OC 500, Best Places to Work, Charity Event Guide, and many more!

Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.

Featured Articles

Related Articles