Mechanics Bank and Rabobank, N.A. announce strategic business combination transaction

Mechanics Bank (OTCBB: MCHB) and Rabobank, N.A., a subsidiary of Rabobank Group, today announced that Mechanics Bank and Rabobank Group have entered into a definitive agreement pursuant to which Mechanics Bank will acquire Rabobank, N.A. in a strategic business combination transaction. The transaction has been approved by each party’s authorizing board of directors. Mechanics Bank is a 114-year-old full-service community bank based in Walnut Creek, California, with 44 branches throughout California and more than $6 billion in assets. Headquartered in Roseville, California, Rabobank, N.A. is a nationally chartered bank with 100 branches and more than $13 billion in assets. The combined entity would operate under the Mechanics Bank name with 144 branches and in excess of $17 billion in total assets.  Read more