Mechanics Bank said Friday that it's agreed to buy most of Rabobank N.A.’s Roseville-based California operations for $2.1 billion and a 9.9 percent stake in the combined bank.
The deal makes Walnut Creek-based Mechanics Bank (OTC: MCHB) a much larger bank, with assets jumping from about $6 billion to more than $17 billion. That means the combined bank will have much greater lending capacity and the ability to spread the fixed cost of technology over larger operations.
