SDN Bancorp, the holding company of Encinitas-based...

SDN Bancorp, the holding company of Encinitas-based San Dieguito National Bank, and Grossmont Bank have mutually agreed to terminate negotiations for the acquisition of San Dieguito by Grossmont. In a statement, Grossmont Bank President Don Clague said the decision to call off the acquisition stemmed from likely prospects for a “significant delay . . . in the necessary regulatory approval process.”