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VALLICORP, PACIFIC BANCORPORATION EXTEND DUE DILIGENCE DEADLINE

    VALLICORP, PACIFIC BANCORPORATION EXTEND DUE DILIGENCE DEADLINE
    FRESNO, Calif., Dec. 24 /PRNewswire/ -- ValliCorp Holdings, Inc. (NASDAQ: VALY) and Pacific Bancorporation (NASDAQ: PABC) today jointly announced that they had mutually agreed to extend the due diligence deadline regarding their previously disclosed merger plans.  Originally the deadline for due diligence had been set for Christmas Day, Dec. 25, 1991.  The new deadline is now set for Jan. 22, 1992.
    ValliCorp and Pacific Bancorp announced plans to merge on Oct. 29, 1991.  Pending approval by stockholders of the respective companies and regulatory authorities, the two companies hope to complete the transaction as originally estimated by the end of the second quarter of 1992.
    ValliCorp currently has assets of $421 million and is headquartered in Fresno -- the heart of California's Central San Joaquin Valley. ValliCorp's common stock is traded on the NASDAQ National Market System under the symbol VALY.
    Pacific Bancorporation currently has assets of $202 million and is also headquartered in Fresno.  Community First Bank, Pacific Bancorporation's subsidiary, has 18 facilities throughout the southern part of the San Joaquin Valley.  Pacific Bancorporation's stock is traded on the NASDAQ National Market system under the symbol PABC.
    -0-                     12/24/91
    /Note to editors:  For additional information on Vallicorp Holdings, Inc. by fax: dial 800-PRO-INFO, code #161./
    /CONTACT:  O. James Woodward III of ValliCorp, 209-221-2384, or Gary Strong or Nick Farina, 312-266-7800, Lillian Armstrong, 415-986-1591, Regina Ryan, 212-661-8030, all of Financial Relations Board for Vallicorp/
    (VALY PABC) CO:  ValliCorp Holdings Inc.; Pacific Bancorporation ST:  California IN:  FIN SU: KD -- NY017 -- 5173 12/24/91 13:39 EST
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Publication:PR Newswire
Date:Dec 24, 1991
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