North Valley Bancorp was a bank holding company headquartered in Redding, California. The company operated 22 branches. The company was acquired by TriCo Bancshares in October 2014, in a merger valued at more than $178 million.[2]
| Industry | Banking |
|---|---|
| Founded | 1972 |
| Defunct | October 3, 2014 |
| Fate | Acquired by Tri Counties Bank |
| Headquarters | Redding, California |
Key people | Michael J. Cushman, CEO & President Kevin R. Watson, CFO |
| Revenue |  $32 million (2013) |
| $3 million (2013) | |
| Total assets |  $917 million (2013) |
| Total equity | $93 million (2013) |
Number of employees | 319 |
| Footnotes / references [1] | |
History
editIn September 1972, North Valley Bank was established as a California-chartered bank. The company commenced operations in February 1973.[1]
In 1980, North Valley Bancorp was incorporated as the holding company for North Valley Bank.[1]
In 2000, the company acquired Six Rivers National Bank.[3][4][1]
In September 2004, the company acquired Yolo Community Bank for $23 million.[5][6][7][1]
In June 2006, the company merged its two subsidiary banks: North Valley Bank and NVB Business Bank.[8]
In 2007, Sterling Financial Corporation agreed to acquire the company for $196 million in cash and stock, but the merger was cancelled after failing to win regulatory approval.[9][10]
In October 2014, the company was acquired by Tri Counties Bank for $178.4 million in stock.[11][12]
References
edit- ^ a b c d e "North Valley Bancorp 2013 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Tri Counties, North Valley banks merge" (Press release). The Union. February 19, 2014.
- ^ "Form 8-K Current Report". U.S. Securities and Exchange Commission.
- ^ "In Brief (four items)". American Banker. April 10, 2000.(subscription required)
- ^ "North Valley Bancorp and Yolo Community Bank Announce Merger" (Press release). Business Wire. April 26, 2004.
- ^ "North Valley Bancorp completes purchase of Yolo bank". American City Business Journals. September 2, 2004.
- ^ Anderson, Mark (May 2, 2004). "Woodland bank sells for $23M". American City Business Journals.
- ^ Anderson, Mark (July 5, 2006). "North Valley Bancorp completes merger". American City Business Journals.
- ^ "North Valley Bancorp cancels merger". American City Business Journals. December 3, 2007.
- ^ Basu, Aniruddha (December 3, 2007). "North Valley ends merger agreement with Sterling Financial". Reuters. Archived from the original on November 13, 2017.
- ^ "TriCo Bancshares Announces the Completion of Its Merger with North Valley Bancorp" (Press release). Business Wire. October 3, 2014.
- ^ "TriCo Bancshares and North Valley Bancorp Announce Agreement to Merge" (Press release). Business Wire. January 21, 2014.
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