TriCo Bancshares, the parent company for Tri Counties Bank, and Valley Republic Bancorp, the parent company for Valley Republic Bank, entered into a definitive agreement under which Valley Republic will merge with and into TriCo in a stock transaction valued at approximately $165.6 million.
Valley Republic Bancorp appointed Stephen M. Annis executive vice president and chief administrative officer while Michele Jasso is now executive vice president and chief operating officer. Garth A. Corrigan is now executive vice president and CFO.
Wells Fargo announced it promoted Geraud Smith to regional vice president of its Bakersfield Regional Commercial Banking Office. Previously, Smith served as loan team manager in Bakersfield, CA.