Bank of Marin Buys Bank of Alameda

The Bank of Alameda and its holding company are being bought by the parent of Bank of Marin, according to the Mercury News.

The deal that will create a new bank with $1.7 billion in assets, Mercury News reports.

Bank of Marin Bancorp announced on Monday that it is buying NorCal Community Bancorp, whose principal operation is Bank of Alameda, the Mercury News reports. It will operate 21 branches in the following counties: Alameda, Marin, San Francisco, Sonoma and Napa, the Mercury News reports.

Bank of Alameda has four branch offices on the Island that also serve Oakland and Emeryville. The bank has assets of $264.7 million and deposits of $228.7 million, the Mercury News reports.

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