Eldorado Bancshares Buys Antelope Valley Bank

Lancaster-based Antelope Valley Bank, one of the region's leading commercial banks, has agreed to be acquired by Eldorado Bancshares in an all-stock deal valued at $44 million.

Antelope Valley Bank, with $200 million in assets and eight branches, will continue operating after the sale under its own name and with its present management and staff.

Upon completion of the acquisition, Eldorado Bancshares, the Laguna Hills-based holding company for Eldorado Bank, will have assets of more than $1.2 billion, based on June 30 financial statements.

Jack D. Seefus, president and CEO of Antelope Valley Bank, said the merger is designed to enable the bank to provide a broader range of products and services.

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