Opus Bank and California Bank & Trust, a subsidiary of Zions Bancorp, announced that they have entered into a purchase and assumption agreement through which Opus Bank will acquire four branches from CB&T. As part of the transaction, Opus Bank will assume substantially all of the deposits of the four locations, which deposits totaled $138.3M as of March 31. The transaction is expected to be completed before the end of the third quarter of 2013, and is subject to regulatory approval and other customary terms.
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