Southland Bank Merger Advances: Bank of Redlands...

Southland Bank Merger Advances: Bank of Redlands shareholders have approved the merger of that institution into Pasadena-based Community Bank. Community Bank is paying $9.50 per share, for a total purchase price of about $23 million. Bank of Redlands has six branches in the high-growth Inland Empire and high desert communities of Redlands, San Bernardino, Yucaipa, Fontana and Victorville. Community Bank has 14 business banking centers and branches in Southern California. The final merger is subject to all necessary regulatory approvals.