10:17 AM EDT, 05/13/2024 (MT Newswires) -- Southern California Bancorp ( BCAL ) and California BanCorp ( CALB ) said Monday their proposed merger has been cleared by the Office of the Comptroller of the Currency and the Federal Reserve Bank of San Francisco, bringing the companies a step closer to closing the deal in Q3.

Under the terms of the agreement reached in January, California BanCorp ( CALB ) will merge with and into Southern California Bancorp ( BCAL ), the companies said.

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