After losing significant value amid the collapse of several regional banks earlier this year, PacWest Bancorp Inc. has found a suitor to help shore up its assets. On Tuesday the bank announced it would merge with its smaller Santa Ana-rival Banc of California, Inc. a deal analysts doubt will spur value beyond stabilizing a shaky regional banking market.
Banc of California to Buy PacWest - Orange County Business Journal ocbj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ocbj.com Daily Mail and Mail on Sunday newspapers.
Orange County-based publicly traded banks appeared to have weathered the March runs on deposits at regional banks, according to their recently reported first-quarter reports.