At 30 September 2018, UIFC had approximately USD 343.6m in assets, USD 262.4m in loans, USD 294.6m in deposits and USD46.6 m in shareholder's equity.
The deal was unanimously approved by the boards of directors of BayCom and UIFC.
Closing of the transaction, which is expected to occur in 2Q19, is subject to customary conditions, including regulatory approval, and approval by the shareholders of UIFC.
As per the agreement, UIFC will be merged with and into BayCom.
At September 30, 2018, UIFC had nearly USD343.6m in assets, USD262.4m in loans and USD294.6m in deposits.