Bank of Alameda

Gamelan Sekar Jaya offers the music and dance of Bali to Alameda school students. Photo courtesy of Rhythmix Cultural Works.

The Bank of Alameda is set to be acquired by the Bank of Marin, the Novato-based bank announced Monday.

"Bank of Marin can provide the resources Bank of Alameda needs to continue providing our customers with the dedicated community-based banking and the high level of personal service that they have come to enjoy,” said James B. Davis, chairman of the board for NorCal Community Bancorp, the Bank of Alameda’s parent company.

After more than a decade of banking locally, Alameda Municipal Power appears prepared to move to a bigger bank.

Managers at the city-owned utility, which has done business with the Bank of Alameda since 2001, are seeking a move to U.S. Bank. The city’s Public Utilities Board is slated to vote on a $96,100, three-year contract with the bank at its regular meeting tonight – an amount that could increase as the utility investigates additional service enhancements.