Security Pacific and Diablo Bank plan to merge.
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Diablo Bank will be merged into Security Pacific National Bank and its shares converted into stock of Los Angeles-based Security Pacific Corp. The total purchase price is estimated to be between $18 million and $19.5 million. Headquartered in Danville, Calif., Diablo Bank also has branches in Alamo and San Ramon. As of August, 1986, Diablo Bank had assets of $115 million and capital of $6.75 million.
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