North Valley Bancorp was a bank
holding company
A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...
headquartered in
Redding, California
Redding is a city in and the county seat of Shasta County, California, and the economic and cultural capital of the Shasta Cascade region of Northern California. Redding lies along the Sacramento River, north of Sacramento, California, Sacrame ...
. The company operated 22
branches
A branch, also called a ramus in botany, is a stem that grows off from another stem, or when structures like veins in leaves are divided into smaller veins.
History and etymology
In Old English, there are numerous words for branch, includi ...
. The company was acquired by TriCo Bancshares in October 2014, in a merger valued at more than $178 million.
History
In September 1972, North Valley Bank was established as a California-chartered bank. The company commenced operations in February 1973.
[
In 1980, North Valley Bancorp was incorporated as the holding company for North Valley Bank.][
In 2000, the company acquired Six Rivers National Bank.][
In September 2004, the company acquired Yolo Community Bank for $23 million.][
In June 2006, the company merged its two subsidiary banks: North Valley Bank and NVB Business Bank.
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.
In October 2014, the company was acquired by Tri Counties Bank for $178.4 million in stock.]
References
1980 establishments in California
Banks established in 1972
Defunct banks of the United States
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