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A Northern California-based bank has announced a pending merger with First Hawaiian Bank.
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Tri Cities Bank, which has branches in the Sacramento and San Francisco Bay areas, expects to complete the merger by the end of 2026, the banks said in a news release.
The combined company will have approximately $34 billion in assets and become the 6th largest bank headquartered in the Western United States.
No branch or office closures are currently planned.
“Tri Counties Bank has built its franchise around long-term customer relationships, local decision-making and a commitment to the communities we serve,” Rick Smith, chairman, president and CEO of Tri Counties Bank, said in the release.
“First Hawaiian shares those values and brings the scale, capital strength and broader product capabilities to help us do even more for our customers and communities,” Smith said.
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Tri Counties Bank will continue to operate in California under the name Tri Counties Bank, a division of First Hawaiian Bank, the release said.
Four directors, including Smith, will join the boards of First Hawaiian and First Hawaiian Bank.
“This partnership creates a broader platform for long-term growth,” said Bob Harrison, chairman, president and CEO of First Hawaiian.
The merger must be approved by regulatory agencies and the shareholders of both banks.
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