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Calif. regulator OKs Scott Valley Bank's merger into Mechanics Bank

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Calif. regulator OKs Scott Valley Bank's merger into Mechanics Bank

The California Department of Business Oversight on April 5 approved Yreka, Calif.-based Scott Valley Bank's proposed merger into Walnut Creek, Calif.-based Mechanics Bank, according to the state banking regulator's May bulletin.

In February, Mechanics Bank agreed to buy Scott Valley Bank and its parent company, Learner Financial Corp.