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Commercial Bank of California merges with National Bank of California

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Commercial Bank of California merges with National Bank of California

completedits merger with , accordingto a news release.

Each outstandingshare of Commercial Bank was converted into 10.4288 shares of NCAL Bancorp common stock.

The combinedbank is named Commercial Bank of California and is a wholly owned subsidiary ofNCAL. The companyhas six branches in Southern California, with over $750 million in total assetsand over $650 million in deposits.

Ash Patel willserve as president and CEO of Commercial Bank of California and NCAL and Paul Folinowill serve as chairman.