Nebraska’s Mutual of Omaha Bank is selling a branch in Carson City, Nev., to Plumas Bank, Quincy, Calif.
The transaction, which is expected to close later this year pending regulatory approval, includes about $50 million in deposits and less than $1 million in loans.
After the deal closes, Mutual of Omaha will still have four branches in Nevada, three in in the Las Vegas area and one in Reno.
“We’ve been looking for effective ways to expand in northern Nevada and this acquisition is a perfect fit,” said Andrew J. Ryback, Plumas chairman, president and CEO. “This transaction will almost triple our Nevada deposit base and will complement our current branch network nicely.”
The $735 million Plumas currently has one other office in Reno, as well as 12 in California.
Earlier this month, the $8.2 billion Mutual of Omaha announced its acquisition of Synergy One Lending, Inc., a national mortgage company based in San Diego, which is expected to close in June.
Terry Connealy, president of Mutual of Omaha Mortgage, will oversee Synergy One’s operations on behalf of Mutual of Omaha Bank. Synergy One will continue to operate under the same name, and its headquarters will remain in San Diego.