Mechanics Bank of Richmond (MCHB)

[56Chevy]

The 109-year-old bank will now be used as a platform for other bank acquisitions, likely starting in the Bay Area and possibly ending with a sale. It’s a strategy with which Ford Financial is very familiar, having profitably bought, built up through acquisition and sold banks around the country. That’s its road map for Mechanics as well. “We’re not making any secrets about our ambitions,” said Carl Webb, a co-managing member of Ford Financial, who along with bank President and CEO Christa Steele sat down with the Business Times to discuss the future of the bank, based in Richmond but about to move its headquarters to Walnut Creek. Webb said his firm has already discussed with Mechanics Bank’s board possible acquisition candidates.

Starting a list of possible target banks with $1B ~ $5B in assets;

TriCo Bancshares (NASDAQ:TCBK), parent company of Tri Counties Bank. Although not a "Bay area bank"...this bank has $2.7B in assets and is deeply rooted in 24 counties of Northern California.

http://www.usabanklocations.com/Tri-Counties-Bank/

-tbc-