U.S. Bank National Association is going to acquire Mellon 1st Business Bank in California.
Mellon 1st Business Bank in California is a subsidiary of the Bank of New York Mellon Corporation, that appeared in 2007 as a result of merger between Mellon Financial Corporation and Bank of New York.
The deal will bring U.S. Bank about $3.4 billion in assets, $1.1 billion in loans and $2.7 billion in deposits. The terms of the merger are still concealed.
The next step of the deal is to get regulatory approval by the end of the second quarter 2008.
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