Opus Bank in Irvine has agreed to acquire four branches from San Diego-based California Bank & Trust.
Three of the four branches are in Los Angeles County—in Covina, La Verne and San Dimas. The fourth is in Pleasant Hill in Contra Costa County.
The branches collectively had $138.3 million in deposits at the end of the first quarter.
Opus had $2.11 billion in total deposits in the first quarter, when it posted a $7.9 million profit and a 23% year-to-year increase in assets to $3 billion.
The acquisitions are expected to close late in the third quarter.
—Jane Yu
