North Valley Bancorp
{{Infobox company
| name = North Valley Bancorp
| industry = Banking
| fate = Acquired by Tri Counties Bank
| foundation = {{start date and age|1972}}
| defunct = {{end date and age|2014|10|03}}
| location = Redding, California
| key_people = {{nowrap| Michael J. Cushman, CEO & President
Kevin R. Watson, CFO}}
| revenue = {{decrease}} $32 million (2013)
| net_income = {{decrease}} $3 million (2013)
| assets = {{increase}} $917 million (2013)
| equity = {{decrease}} $93 million (2013)
| num_employees = 319
| footnotes = {{cite web | url=https://www.sec.gov/Archives/edgar/data/353191/000101905614000369/nvb_10k13.htm | title=North Valley Bancorp 2013 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}
}}
North Valley Bancorp was a bank holding company headquartered in Redding, California. The company operated 22 branches. The company was acquired by TriCo Bancshares in October 2014, in a merger valued at more than $178 million.{{cite press release | url=https://www.theunion.com/news/local-news/tri-counties-north-valley-banks-merge/ | title=Tri Counties, North Valley banks merge | publisher=The Union | date=February 19, 2014}}
History
In September 1972, North Valley Bank was established as a California-chartered bank. The company commenced operations in February 1973.
In 1980, North Valley Bancorp was incorporated as the holding company for North Valley Bank.
In 2000, the company acquired Six Rivers National Bank.{{cite web | url=https://www.sec.gov/Archives/edgar/containers/fix013/353191/000101905600000559/0001019056-00-000559-0001.txt | title=Form 8-K Current Report | publisher=U.S. Securities and Exchange Commission}}{{cite news | url=https://www.americanbanker.com/news/in-brief-four-items-ab123305 | title=In Brief (four items) | work=American Banker | date=April 10, 2000}}{{subscription required}}
In September 2004, the company acquired Yolo Community Bank for $23 million.{{cite press release | url=http://www.businesswire.com/news/home/20040426005324/en/North-Valley-Bancorp-Yolo-Community-Bank-Announce | title=North Valley Bancorp and Yolo Community Bank Announce Merger | publisher=Business Wire | date=April 26, 2004}}{{cite news | url=https://www.bizjournals.com/sacramento/stories/2004/08/30/daily30.html | title=North Valley Bancorp completes purchase of Yolo bank | work=American City Business Journals | date=September 2, 2004}}{{cite news | url=https://www.bizjournals.com/sacramento/stories/2004/05/03/story4.html | title=Woodland bank sells for $23M | first=Mark | last=Anderson | work=American City Business Journals | date=May 2, 2004}}
In June 2006, the company merged its two subsidiary banks: North Valley Bank and NVB Business Bank.{{cite news | url=https://www.bizjournals.com/sacramento/stories/2006/07/03/daily19.html | title=North Valley Bancorp completes merger | first=Mark | last=Anderson | work=American City Business Journals | date=July 5, 2006}}
In 2007, Sterling Financial Corporation agreed to acquire the company for $196 million in cash and stock, but the merger was cancelled after failing to win regulatory approval.{{cite news | url=https://www.bizjournals.com/sacramento/stories/2007/12/03/daily11.html | title=North Valley Bancorp cancels merger | work=American City Business Journals | date=December 3, 2007}}{{cite news | url=https://uk.reuters.com/article/northvalley-acquisition-sterling/north-valley-ends-merger-agreement-with-sterling-financial-idUKWNAS357620071203 | archive-url=https://web.archive.org/web/20171113112834/https://uk.reuters.com/article/northvalley-acquisition-sterling/north-valley-ends-merger-agreement-with-sterling-financial-idUKWNAS357620071203 | url-status=dead | archive-date=November 13, 2017 | title=North Valley ends merger agreement with Sterling Financial | first=Aniruddha | last=Basu | work=Reuters | date=December 3, 2007}}
In October 2014, the company was acquired by Tri Counties Bank for $178.4 million in stock.{{cite press release | url=http://www.businesswire.com/news/home/20141003005819/en/TriCo-Bancshares-Announces-Completion-Merger-North-Valley | title=TriCo Bancshares Announces the Completion of Its Merger with North Valley Bancorp | publisher=Business Wire | date=October 3, 2014}}{{cite press release | url=http://www.businesswire.com/news/home/20140121006845/en/TriCo-Bancshares-North-Valley-Bancorp-Announce-Agreement | title=TriCo Bancshares and North Valley Bancorp Announce Agreement to Merge | publisher=Business Wire | date=January 21, 2014}}
References
{{Reflist|1}}
Category:1980 establishments in California
Category:Banks established in 1972
Category:Defunct banks of the United States
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