Bay Commercial Bank completed the acquisition of Oakland, CA-based First ULB, effective after close of business on Friday, April 28, 2017. In conjunction with the acquisition, Bay Commercial Bank changed its name to United Business Bank.

“We at First ULB Corp. are pleased and excited about becoming a part of BayCom Corp and having the advantage of their size, number of branches, and diverse package of products and services to offer our clients. The merger has already had a very positive effect on the value of our shareholders’ investment,” said Malcolm Hotchkiss, chairman of the board, of First ULB.

George Guarini, president and CEO of Bay Commercial Bank, said, “We are also taking this opportunity to change the name of our Bank to United Business Bank. We had considered a name change for some time, since we were clearly expanding beyond the Bay Area. After considering numerous names including those suggested by our employees, we found a name that will transcend geographic boundaries and fits our business perfectly….United Business Bank. It shows not only commitment to our stated mission of expansion but also the fact that we believe in the brand of bank we are acquiring.”

BayCom was assisted by Gary Steven Findley and Associates and The Findley Group for legal and investment banking services and Vining Sparks, LP provided the fairness opinion. First ULB Corp. was assisted by Hogan Lovells U.S. for legal services and FIG Partners for investment banking services and the issuance of a fairness opinion.

United Business Bank offers a full-range of loan, including SBA and USDA guaranteed loans, and deposit products and services to businesses and their affiliates.