First Republic Bank, a San Francisco-based private bank and wealth management firm, has acquired Bank of Walnut Creek, a full service bank b...

First Republic Bank, a San Francisco-based private bank and wealth management firm, has acquired Bank of Walnut Creek, a full service bank based in San Francisco, for $177 million.

First Republic said in a statement: “This transaction will expand First Republic's reach into several rapidly growing communities where it already has clients, but currently has no offices. First Republic also expects to expand the relationships with the clients of Bank of Walnut Creek by offering First Republic's full suite of home mortgage, private banking and wealth management services to these clients.”