Southern California Bancorp, the holding company for Bank of Southern California, agreed to merge with California BanCorp, the holding company for California Bank of Commerce, in a $233.6m deal. “This merger of equals brings together two premier California business banks to create a franchise with a footprint that covers the two most attractive markets in California. Our two companies share the same vision and values with a customer-centric focus on providing outstanding service to mid-market businesses. We believe this combination, resulting in increased size and scale, will drive improved profitability and increase shareholder value. It also offers customers increased product offerings and lending limits, as well as access to branches in both Northern and Southern California. The merger will also provide employees of both companies with increased career opportunities. I am very excited to work with Steven Shelton and his impressive team to build what we believe will be the premier business banking franchise in California,” David Rainer, Southern California Bancorp Chairman and CEO.