Greater Sacramento Bancorp shareholders voted to approve the purchase in December, and other necessary regulatory approvals were also recently received, clearing the way for the completion of the sale. Bank of Sacramento will continue to do business under the same name, as a division of AmericanWest Bank.
"On behalf of our entire company, it is my pleasure to welcome Bank of Sacramento clients and employees to AmericanWest Bank," said Scott A. Kisting, Chairman and CEO, AmericanWest Bank. "Now that we are one company, our top priority is to continue providing clients with outstanding service and customized solutions to help their businesses prosper and grow."
Clients in the Sacramento area may visit either AmericanWest Bank or Bank of Sacramento for assistance, and they can expect to receive service from the same familiar faces at those locations, Kisting said. Additionally, there are no changes to the office hours of the new locations.
Today’s acquisition adds four locations to AmericanWest Bank’s footprint, bringing the Bank’s total number of branches to nine in the greater Sacramento area and 98 overall. At the close of the transaction, AmericanWest Bank’s assets totaled $4.7 billion. Of that, about $2 billion is in California including $1 billion in Northern California alone, making AmericanWest one of the largest community banks operating in the Sacramento region.
Bank of Sacramento CEO and President William J. Martin will continue with the Bank in a consulting capacity.
