Los Angeles bank to buy El Dorado Savings in $466.7 million deal


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…

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