Boston Private Financial to buy Borel Bank of Calif.

BOSTON — Boston Private Financial Holdings, Inc. has agreed to buy Borel
Bank & Trust Co. of San Mateo, Calif. for $113.2 million. Borel offers private
banking service to wealthy customers in Northern California and manages $520 million
in trusts for its clients. Last year Boston Private bought Sand Hill Advisors
of Menlo Park, Calif., and announced that it would begin offering financial planning
services in the state within the next 12 months Bloomberg News reported.