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Calif. regulator OKs Plumas Bank's buy of Mutual of Omaha Bank branch

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Calif. regulator OKs Plumas Bank's buy of Mutual of Omaha Bank branch

The California Department of Business Oversight on July 11 approved Quincy, Calif.-based Plumas Bank's proposed acquisition of the banking business of the Carson City, Nev., branch of Omaha, Neb.-based Mutual of Omaha Bank, according to the state regulator's August bulletin.

As previously reported, the deal is expected to close later this year.

As of June 30, Plumas Bank had $764.1 million in assets. Mutual of Omaha Bank had $8.27 billion in assets, as of the same date.

Plumas Bank is a unit of Plumas Bancorp, while Mutual of Omaha Bank is a subsidiary of Omaha Financial Holdings Inc.