First Interstate Bank and Point West Bancorp...

First Interstate Bank and Point West Bancorp have signed a letter of intent for First Interstate to acquire Point West. First Interstate has offered $29 cash per share, or about $17.8 million, for Point West, the fourth-largest independent bank in Sacramento with two offices and $165 million in assets. The proposed acquisition of the Point West still requires the approval of a definitive agreement and approval by regulatory authorities.