(Feb. 2) The New York office of Netherlands-based Rabobank, a major agricultural financial services provider, announced Feb. 1 the completion of a $371 million acquisition of Central Coast Bancorp, Salinas, Calif., which is the holding company for Community Bank of Central California.

Leaders from the organizations have been working on the acquisition for several months, and they expect the transition to be a smooth one, according to a news release.

The acquisition is part of Rabobank’s strategy of expanding its services to key agricultural regions in the U.S., said Brad Scott, managing director and western regional manager for the corporation’s food and agribusiness banking division.

“We will now have an on-the-ground local presence in this important ag region — the salad bowl of the U.S.,” Scott said.

In North America, Rabobank manages loans of about $12 billion to agriculture customers. More than 25% of the company’s loan commitments in the western U.S. are to the produce industry, Scott said.