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California-based Bank of the Sierra gets state regulator's nod to buy branch

Porterville, Calif.-based Bank of the Sierra on April 4 secured the California Department of Business Oversight's approval to acquire the banking business of Lompoc Community Bank, a division of Community Bank of Santa Maria, according to the state banking regulator's May bulletin.

Under the deal announced in January, the Sierra Bancorp unit is buying the Lompoc, Calif., branch of Community Bank of Santa Maria, including about $35 million in deposits, as well as certain assets of the branch.