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Business

>> CALIFORNIA Latest News

JAN 30, 2013 - Washington Business Journal

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Albina Bank to sell majority stake to California's One PacificCoast Bancorp

A California bank has agreed to purchase a majority stake in Albina Community Bank, a deal that will infuse the bank with enough cash to satisfy regulators who have asked the bank to raise a bigger capital cushion since the housing collapse. The deal combines two banks with similar missions. Oakland, Calif.-based One PacificCoast Bancorp and Albina are both Community Development Financial Institutions, a designation given to banks with deep roots in underserved communities. Roughly 60 banks nationwide…

Tags: Albina Bank to sell majority stake to California's One PacificCoast Bancorp,  California Latest News