Bank of Rio Vista has been acquired by Pillsbury client Farmers & Merchants Bancorp in a deal that will raise Farmers & Merchants total assets to $3.3 billion. According to Daily Journal, Bank of Rio Vista and all it branches and offices will be a wholly owned subsidiary of Farmers & Merchants once the transaction is finalized.

Over the past year, Farmers & Merchants paid close to $12 million for about 39.65 percent of Bank of Rio Vista outstanding common shares, reports Daily Journal, and shareholders will receive $28.7 million in cash for the approximately 60.35 percent of shares remaining. The deal has been approved unanimously by the boards of both companies.

San Francisco and New York Corporate partner Rodney Peck led the team that counseled Farmers & Merchants. San Francisco Corporate partner Patricia Young and associate Robert Tian also advised on the purchase.