Business & Finance
Business and Finance
Business and Finance 
Mon, February 9, 2009
Sun, February 8, 2009
Fri, February 6, 2009
Bay Commercial Bank Announces the Purchase of Castro Valley Branch
WALNUT CREEK, Calif.--([ BUSINESS WIRE ])--Community Bankshares, Inc. ("CBI"), the holding company for Community Banks of Northern California ("CBNC"), and Bay Commercial Bank (OTCBB:BCML) ("BCB") announced today the signing of a purchase and assumption agreement transferring a full-service branch office in Castro Valley, California, including certain assets and liabilities of CBNC to BCB. The transaction is subject to customary closing conditions, including receipt of applicable state and federal regulatory approvals. The transaction is intended to be completed during the second quarter of 2009.
According to Mickey Moore, President/CEO of CBNC, "This was a difficult decision for CBNC as the bank has enjoyed great customer loyalty in the Castro Valley branch, however, the sale of our Castro Valley branch will allow us to continue our focus on the Central Valley and our new Sacramento office. We are very confident that Bay Commercial Bank will continue the excellent customer service and community banking focus that they are well known for providing to their existing customers. We expect only good changes to come from this alliance with a very strong bank."
George Guarini, CEO of Bay Commercial Bank stated "We are excited about welcoming the Clients and Employees of the Castro Valley Office into the Bay Commercial Bank family. At Bay Commercial Bank we say "It's About the Client". We believe it, we take it seriously and we show it. We look forward to meeting our new family members."
About Community Bankshares, Inc. and Community Banks of Northern California:
Community Bankshares, Inc. is a multi-bank holding company serving the states of Colorado and California. Banking subsidiaries include Community Banks of Colorado, Citizen's State Bank of Cortez, and Community Banks of Northern California. CBI also provides mortgage services through Affiliated Financial Groups, Inc. and Banker's Mortgage Corporation.
Community Banks of Northern California is the only bank chartered in and headquartered in Tracy with full service branches in Tracy, Lathrop and downtown Sacramento.
About Bay Commercial Bank:
The Bank offers a full range of loan and deposit products and services to businesses and their affiliates throughout the Bay Area. The bank also offers 1031 exchange services. Its headquarters office is located at 1280 Civic Drive, Suite 100, Walnut Creek, California. The Bank has one branch at 155 Grand Ave, Oakland, California. Bay Commercial Bank is a member of FDIC and is an Equal housing lender. Bay Commercial Bank is traded on the bulletin board under the symbol BCML.OB and the Bank can be found at [ www.baycommercialbank.com ]. Bankers Exchanges Services can be found on line at [ www.bes1031.com ].