California General Bank and Professional Business Bank, both commercial banks in Pasadena, on Tuesday announced a definitive merger agreement.

Professional Business Bank, which has been struggling since the recession, will merge into California General, which forming a network of six branches in Los Angeles and Orange counties and more than $365 million in assets, the companies said.

California General Chairman David T. Blankenhorn will maintain his position in the combined bank. Professional Business Chief Executive Mary Lynn Lenz will serve as president and CEO.

Carpenter Community BancFund, sole shareholder of the parent company of California General, will invest new capital in CGB Holdings Inc., the parent, in conjunction with the merger.

“The union of the two local Pasadena banks will create a stronger commercial bank to support small businesses that drive growth in Pasadena, Glendale, the San Gabriel Valley and the tri-city area,” Blankenhorn said in a statement. “

This is the third local acquisition in just over a month involving banks that were not in the process of being closed by regulators. L.A.’s Grandpoint Capital Inc.’s new Grandpoint Bank recently acquired First Commerce Bank and Santa Ana Business Bank.