How did Rabobank acquire Butte Community Bank?
Rabobank’s acquisition of Butte Community Bank did not take place via the “usual” method, i.e., via a purchase of the equity in Community Valley Bancorp, Butte Community Bank’s parent holding company. In this case, the state bank regulator – the Department of Financial Institutions — took control of Butte Community Bank at the close of business on Friday, August 20, 2010, and turned it over to the FDIC. Rabobank, N.A. then acquired all deposits and loans, and substantially all the banking operations of Butte Community Bank from the FDIC. With the completion of the acquisition, Butte Community Bank became Rabobank, N.A. and all customers of Butte Community Bank became customers of Rabobank, N.A.
