The Sanwa Bank of Tokyo has agreed to purchase Lloyds Bank California for about $263 million. The Japanese bank said the agreement was reached by its wholly owned U.S. subsidiary, Golden State Sanwa Bank, and Lloyds Bank PLC of London. Lloyds Bank California is the eighth-largest bank in the state, with about $3 billion in assets, $2.5 billion in deposits and $2 billion in loans at the end of last year. The purchase is subject to approval by the Japanese and U.S. governments.
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