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Bank of Marin Bancorp completes Bank of Napa buy

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Bank of Marin Bancorp completes Bank of Napa buy

In California, Novato-based Bank of Marin Bancorp completed its acquisition of Napa-based Bank of Napa NA, effective Nov. 21.

Bank of Napa shareholders approved the deal on Nov. 7. The California Department of Business Oversight gave its approval on Oct. 23.

With the addition of Bank of Napa, Bank of Marin has $2.4 billion in assets, $1.7 billion in total loans outstanding and $2.1 billion in total deposits, as of Sept. 30. Bank of Napa, meanwhile, had $255.3 million in assets, as of the same date, according to SNL data.

Keefe Bruyette & Woods provided financial advisory services and a fairness opinion to Bank of Marin and Stuart Moore Staub acted as the company's legal counsel. Bank of Napa received financial advisory services and a fairness opinion from Sandler O'Neill & Partners LP, while Sheppard Mullin Richter & Hampton LLP acted as its legal counsel.