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California regulator OKs Tri Counties Bank's merger with FNB Bancorp unit

The California Department of Business Oversight on Feb. 7 approved First National Bank Northern California's proposed merger into Tri Counties Bank.

Chico, Calif.-based TriCo Bancshares is acquiring South San Francisco, Calif.-based FNB Bancorp in an all-stock transaction valued at approximately $315.3 million. The two are the parents of Tri Counties Bank and First National Bank, respectively.