SCIENCE/TECHNOLOGY

Bank Acquired: In the sale of another financial institution in Orange, California City Bank and its two branches in the city began operating this week as part of CommerceBank in Newport Beach.

CommerceBank completed its $8.7-million cash purchase of California City, boosting its assets to $319 million at the end of the year and making it the largest bank in Orange County.

Together, the banks earned more than $4 million last year, one of the most profitable operations among county banks.

The 10-year-old CommerceBank, which has built a large business banking operation from a relatively small base of commercial and industrial customers, has wanted to increase its size and its consumer business. It has offices in Newport Beach and Costa Mesa.

California City, which opened in 1983, has split its attention between a business clientele and consumer banking.

Clyde H. Gossert, CommerceBank’s president, said no one will be laid off as a result of the acquisition. Harvey Ferguson, California City’s president, became a CommerceBank executive vice president in charge of the California City offices and involved in the merging of the two operations.