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Heritage Commerce, Presidio Bank shareholders approve deal

Shareholders of both San Jose, Calif.-based Heritage Commerce Corp. and San Francisco-based Presidio Bank approved Heritage's pending acquisition of Presidio Bank.

The Federal Reserve and the State of California Department of Business Oversight have approved the deal, which should close in the fourth quarter. Upon completion, the combined company will have roughly $4.0 billion in assets and 17 branches across the Greater San Francisco Bay Area, after branch consolidation.