Banc of California and PacWest Bancorp announced the signing of a definitive agreement pursuant to which the companies will combine in an all-stock merger transaction. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, PacWest will merge into Banc of California, and Banc of California, N.A.
Combination will create California’s premier relationship-focused business bank
Combined $36 billion asset bank with extensive Southern CA footprint to be headquartered in Los Angeles
20%+.
Banc of California (BANC) and PacWest (PACW) Announce Merger, $400M Equity Raise streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Banc of California and PacWest Announce Transformational Merger and $400 Million Equity Raise from Warburg Pincus and Centerbridge streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.