North Valley Bancorp
IndustryBanking
Founded1972 (1972)
DefunctOctober 3, 2014 (2014-10-03)
FateAcquired by Tri Counties Bank
HeadquartersRedding, California
Key people
 Michael J. Cushman, CEO & President
Kevin R. Watson, CFO
RevenueDecrease $32 million (2013)
Decrease $3 million (2013)
Total assetsIncrease $917 million (2013)
Total equityDecrease $93 million (2013)
Number of employees
319
Footnotes / references
[1]

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]

History

In 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

  1. 1 2 3 4 5 "North Valley Bancorp 2013 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Tri Counties, North Valley banks merge" (Press release). The Union. February 19, 2014.
  3. ↑ "Form 8-K Current Report". U.S. Securities and Exchange Commission.
  4. ↑ "In Brief (four items)". American Banker. April 10, 2000.(subscription required)
  5. ↑ "North Valley Bancorp and Yolo Community Bank Announce Merger" (Press release). Business Wire. April 26, 2004.
  6. ↑ "North Valley Bancorp completes purchase of Yolo bank". American City Business Journals. September 2, 2004.
  7. ↑ Anderson, Mark (May 2, 2004). "Woodland bank sells for $23M". American City Business Journals.
  8. ↑ Anderson, Mark (July 5, 2006). "North Valley Bancorp completes merger". American City Business Journals.
  9. ↑ "North Valley Bancorp cancels merger". American City Business Journals. December 3, 2007.
  10. ↑ Basu, Aniruddha (December 3, 2007). "North Valley ends merger agreement with Sterling Financial". Reuters.
  11. ↑ "TriCo Bancshares Announces the Completion of Its Merger with North Valley Bancorp" (Press release). Business Wire. October 3, 2014.
  12. ↑ "TriCo Bancshares and North Valley Bancorp Announce Agreement to Merge" (Press release). Business Wire. January 21, 2014.
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