Mechanics Bank $2.1 billion acquisition of Rabobank's US retail unit

Overview:

• Mechanics Bank has acquired the US retail banking unit of Rabobank in a $2.1 billion deal.
• The target is the US subsidiary of the Netherlands based lender Rabobank. 
• Mechanics acquired the US bank's retail, commercial real estate, mortgage, business banking and wealth management businesses.
• Both banks are based in California. 
• Lazard Freres & Co acted as financial adviser for Rabobank and Credit Suisse Securities advised Mechanics. 

Kurt Stumpo - US Editor