Mechanics Bank completes merger with Rabobank

Mechanics Bank completes merger with Rabobank

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A merger between Mechanics Bank and Rabobank's US operations is now complete, bringing the two lenders together under the Mechanics Bank name.

The merger, which was completed Sept. 1, was first announced by the two companies in March. 

Under the terms of the agreement, the Walnut Creek-based Mechanics Bank paid $2.1 billion to absorb Rabobank’s U.S. retail and business banking, commercial real estate, mortgage and wealth-management businesses.

The deal expanded Mechanics Banks reach across California.

While Mechanics Bank previously had 44 branches throughout the state, mostly in the San Francisco Bay area, Rabobank's scores of branches extended from Sacramento to the U.S.-Mexico border.

Mechanics Bank officials said the merger should not affect customers. 

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