Community Banks Unite.Business Editors CAMERON PARK Cameron Park is the name of several places: :
Western Sierra Bancorp (Nasdaq:WSBA WSBA Washington State Bar Association WSBA Wyoming School Boards Association WSBA Washington State Bicycle Association WSBA Western States Bankcard Association WSBA Washington State Biomedical Association WSBA Washington State Beekeepers Association ) and Sentinel Community Bank have announced plans to join forces by combining the branch operations of Sentinel Community Bank and Western Sierra National Bank. Both banks will continue to be totally committed to the communities they serve, their customers as well as their shareholders, and will remain a positive influence in their communities. Under the agreement, Sentinel will continue to operate under the management of Sentinel Community Bank, with Don Cusey continuing as Regional President. Some back office operations will be combined, but customers will not notice any difference other than additional services offered. Cusey, President of Sentinel Community Bank, stated, "This alliance will allow Sentinel the ability to directly meet the growing needs of our community. We will have greater lending capabilities, SBA-Preferred Loan status, and offer new technology, including Corporate Banking (Cash Management), as well as home PC and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Banking. Sentinel customers will see the same faces in all three Tuolumne Tu·ol·um·ne A river, about 249 km (155 mi) long, of central California flowing generally westward to the San Joaquin River. County branches." Western Sierra Bancorp (Nasdaq:WSBA) is a multi-bank holding company, and is presently a combination of three community banks, including Western Sierra National Bank, located in Cameron Park; Lake Community Bank, Lakeport Lakeport may refer to a port located on a lake. Lakeport is the name of several places in the United States:
1 City (1990 pop. 44,685), Placer co., N central Calif., a suburb of Sacramento in the foothills of the Sierras; inc. 1909. Marked by rapid growth in the late 20th cent. 1st National Bank, Roseville. With the combination of Sentinel Community Bank, Western Sierra Bancorp will have $410 million in assets and 14 branches. Gary D. Gall, President/CEO of Western Sierra Bancorp, stated, "Sonora is an ideal location geographically, expanding our community bank presence along the western slope of the Sierra Nevadas Sierra Nevada, mountain range, Spain Sierra Nevada (syā`rä nāvä`thä), chief mountain range of S Spain, in Granada prov., running from east to west for c.60 mi (100 km), parallel to the Mediterranean Sea. . Sentinel Community Bank has an identical philosophy of excellence in customer service and community involvement. We will be able to enhance services to and expand the present lines of business." The combination will have a positive effect on bank earnings, which management anticipates being accretive to earnings per share by the 4th quarter of 2000. Sentinel Community Bank shareholders will be receiving approximately $10,750,000 in value of the combined entity. This transaction will need shareholder and regulatory approval prior to completion, which is expected to occur in the 2nd quarter of 2000. |
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