The holding company of Spokane-based AmericanWest Bank announced Thursday a deal to acquire Inland Community Bank in Southern California for $23.7 million in cash.

Inland, with $221 million in assets, will become a part of AmericanWest, which had $2.5 billion in assets as of March 31.

Inland has five California branches and is based in Ontario, Calif. The deal, which is subject to regulatory and shareholder approval, is expected to close in the fourth quarter.