California Bancshares to acquire Centennial Bank.SAN RAMON, Calif.--(BUSINESS WIRE)--April 18, 1995--California Bancshares, Inc., (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CABI CABI Commonwealth Agricultural Bureaux International (UK) CABI Centre for Agriculture and Biosciences International (UK) CABI Colorado Association of Business Intermediaries CABI California Birth Index ) and Centennial Bank's sole shareholder, First Community Bankshares, have signed a definitive agreement for Centennial Bank to be acquired by California Bancshares for $16.25 million, payable in cash at closing. First Community Bankshares, owned by Norman C. Schultz, acquired Centennial Bank in 1986. The acquisition is subject to regulatory approval and is expected to close in July, 1995. Centennial Bank operates four branches in Castro valley, San Leandro and Hayward (2). Total assets at March 31, 1995 were $119 million. 1994 net income was $1.59 million for a return on assets Return on assets (ROA) Indicator of profitability. Determined by dividing net income for the past 12 months by total average assets. Result is shown as a percentage. ROA can be decomposed into return on sales (net income/sales) multiplied by asset utilization (sales/assets). of 1.35%. Earnings for the first quarter of 1995 were $452,000 representing a return on assets of 1.55%. California Bancshares is the holding company for Alameda First National Bank, Bank of Livermore, The Bank of Milpitas, N.A., The Bank of San Ramon Valley The San Ramon Valley is a region in Contra Costa County and Alameda County, California, east of Oakland. The cities of Danville, San Ramon, Alamo, and Walnut Creek are located in the valley. Links
According to Joseph P. Colmery, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of California Bancshares, the acquisition "solidifies California Bancshares' presence in this growing market area with a bank that has a record of solid financial performance and an excellent reputation in the community. California Bancshares' financial and technological resources will enhance Centennial Bank's ability to be the leading community bank in this area." California Bancshares, Inc.'s common stock trades on the NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol CABI. CONTACT: California Bancshares, Inc. Joseph P. Colmery, 510/743-4201 |
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