Article: VALLICORP HOLDINGS, INC. ACQUIRES EL CAPITAN BANCSHARES, INC.

FRESNO, Calif., Feb. 2 /PRNewswire/ -- ValliCorp Holdings, Inc. (Nasdaq: VALY) today announced that it completed its merger with El Capitan Bancshares, Inc. El Capitan, with assets of approximately $130 million, has eight branches in Tuolumne, Stanislaus and Calaveras Counties. This merger expands ValliCorp's market presence by increasing total assets approximately 11 percent. Shareholders of El Capitan received 2.3286 shares of ValliCorp common stock for each share of El Capitan common stock for a total issuance of approximately two million ValliCorp shares.

J. Mike McGowan, President and Chief Executive Officer of ValliCorp, stated, "We are excited about the ...

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