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First California Adds Two Branches with Merger

First California Financial Group expanded its presence in Riverside County following its merger with Premier Service Bank. The transaction between the two financial institutions is valued at about $2 million. The deal is expected to close in the third quarter. Westlake Village-based First California Financial Group owns First California Bank with 19 offices in Southern California. Premier Service Bank is headquartered in Riverside with a branch office in Corona. “The transaction provides the opportunity to expand First California Bank’s presence in the Riverside and Corona markets and add a talented group of bankers,” First California President and CEO C. G. Kum said in a prepared statement. “Premier Service Bank has a strong customer base and fits into our desired geographic footprint extremely well.” Premier Service Bank had assets of $141 million as of Dec. 31, 2011. Premier President and CEO Kerry L. Pendergast is expected to stay on as market president for the two former Premier branches and a First California branch in Redlands. Mark R. Madler

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