PCB Financial, Inc. agreed to acquire Northern California Bancorp, Inc. (OTCPK:NRLB) from Charles Chrietzberg and others on October 2, 2023. Northern California Bancorp will merge into PCB in a cash and stock transaction and become a wholly owned subsidiary of the investment firm. Merger expected to be finalized before the end of the year.

Charles Chrietzberg, the bank?s largest shareholder and its longtime chairman, president and CEO, will be stepping down from those roles as part of the merger, but will continue to be involved in the company as a PCB shareholder serving on an advisory board.