A Manatt team, led by corporate and finance partner Gordon Bava and Manatt financial services leader Craig Miller, represented American River Bankshares (AMRB), the parent company of American River Bank, in its $135 million merger with Bank of Marin Bancorp, the parent company of Bank of Marin. The transaction is valued at $134.5 million, or $22.46 per share of AMRB common stock based on Bank of Marin Bancorp’s closing price per share on April 16, 2021. The total transaction value includes the value aof AMRB options being paid in cash by Bank of Marin Bancorp and is expected to close in the third quarter of 2021. Upon closing, Bank of Marin will have approximately $4 billion in assets and operate thirty-one branches in 10 counties across Northern California.
“We are excited for the opportunity to join one of the strongest banks in the region. We believe our clients, shareholders and employees will benefit from Bank of Marin’s history of profitable growth and expertise in successfully executing acquisitions. We believe their community banking model, culture and commitment to high-quality client service make Bank of Marin an excellent partner for American River Bank,” stated David E. Ritchie, Jr., President and Chief Executive Officer of American River Bankshares.
Manatt’s deal team also included employment and labor partner, Sharon Bauman; tax partners David Herbst and Jeffrey Mannisto; and corporate and finance associate, Kendrick Coq.
Learn more about this deal here.