Spotlight: 2 Independent Orange County Banks to Merge

The ongoing consolidation in Orange County’s independent banking community continued as Commerce Security Bancorp Inc. agreed to acquire Tustin-based Eldorado Bancorp in a deal that has been valued at about $90 million. Huntington Beach-based Commerce Security would become the largest bank holding company in Orange County, with total assets of $850 million. The deal would trim the number of Orange County independent banks to about 12 from 50 since 1980.