Southern California Bancorp announced Tuesday it will acquire Bank of Santa Clarita for $56.2 million, the San Diego business said.Bank of Santa Clarita shareholders will receive one share of Southern California Bancorp common stock in exchange for each of their shares. The stock transaction is valued at $56.2 million based on Southern California Bancorp's stock price of $14.15; the value of the merger consideration will fluctuate based on stock price, the bank said.Once the acquisition is finalized, Southern California Bancorp shareholders will own 78 percent of the company's shares while bank of Santa Clarita shareholders are expected to own 22 percent.Bank of Santa Clarita Chief Executive Frank Di Tomaso will join the board at Southern California Bancorp, a holding company, and its operating subsidiary Bank of Southern California."On behalf of our board of directors, I am pleased to announce our merger into Bank of Southern California," Di Tomaso said in a statement.