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BayCom completes acquisition of Uniti Financial

Walnut Creek, Calif.-based BayCom Corp. completed its acquisition of Buena Park, Calif.-based Uniti Financial Corp., effective May 24.

Under the terms of the deal, Uniti Bank merged into BayCom unit United Business Bank. Uniti Financial shareholders received $2.30 in cash and 0.07234 of a BayCom common share, which means BayCom paid $35.5 million in cash and issued 1,115,006 common shares.