Ojai Community Bank likely to become part of Bank of the Sierra

Bill Warner, Ojai Valley News reporter
 The Ojai Community Bank (OCB) will likely be operating under a new name before the end of the year, pending an acquisition by Porterville-based Bank of the Sierra. The banks' respective holding companies, OCB Bancorp and Sierra Bancorp, announced the $35.7 million transaction in a press release April 24.
“They have a similar culture to what we have,” OCB President David Brubaker said April 25. “They operate in a number of small communities, and they tend to be community-based rather than business-based.”
With the acquisition, he said, the bank will now be able to offer more products and services and the potential for larger loans will be likely. Moreover, common shareholders of OCB Bancorp would be able to receive common stock in Bank of the Sierra, whose earnings per share are expected to increase.  “It's a win-win,” Brubaker said.

Register to read more ...