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Details Of Layoffs Due To Mergers Of Two Banks In Tri-Counties Released

Posted on Friday, January 10, 2014 12:04pm

Details of more than 50 job losses due to the merger of two banks in the Tri-Counties have been released.

In a letter to Ventura County Supervisors, Paso Robles based Heritage Oaks Bank made public the locations of the 53 positions.

Last October, Heritage, and Mission Community Bancorp agreed to merge, creating a combined institution with more than $1.5 billion dollars in assets.

The layoffs include employees at bank locations from Paso Robles to Oxnard, with the larges number of job losses, 19, occurring at a San Luis Obispo branch.

The company had 11 locations at the time of the merge, and the letter says seven of them will be closing.

The merger is expected to be finalized next month.

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