PacWest Bancorp of Los Angeles has agreed to buy El Dorado Savings Bank in a deal valued at $466.7 million.
The merger will add business lending services to El Dorado’s branches, which in some cases is the only bank in certain mountain communities in the Sierra Nevada.
Placerville-based El Dorado has 35 branches in Sacramento and seven other California counties in the Sierra Nevada and two counties in Northern Nevada. El Dorado still operates as a traditional savings and loan, with some business…
