Valley bank makes purchase

California United Bank is acquiring California Oaks State Bank in a cash-and-stock deal valued at around $17 million. These are two small banks (California United in Encino and California Oaks in Thousand Oaks), with combined assets of under $700 million and six full-service branches. There has been talk of more bank consolidation in the next couple of years, the result of Increased regulatory costs and stronger capital requirements. In this climate, it appears to be a buyer's market. Here's the release.