Commercial Bank of California completed the acquisition of Community Bank of the Bay for $119m.

Commercial Bank of California, a full-service bank and diversified financial services company, completed the acquisition of Community Bank of the Bay, a commercial bank, for $119m. "We are delighted to announce the completion of this transformative transaction, and to welcome the clients and team members of Community Bank of the Bay to the CBC family. The combination of our two institutions creates a unique banking franchise with a renewed commitment to supporting the communities we serve, and that commitment can only grow stronger as we move forward together," Ash Patel, Commercial Bank of California Chairman, CEO and President.