Pacwest stock

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Pacwest stock

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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. The combined holding company and bank will operate under the Banc of California name and brand following closing of the transaction. Under the terms of the merger agreement, PacWest stockholders will receive 0. The merger will create the premier California business banking franchise, which will be well-positioned to capitalize on market opportunities and broaden the channels and customers it serves through increased scale and expanded product offerings. Banc of California, N. These repositioning transactions for the combined company will result in a higher net interest margin, estimated to add over bps compared to the pre-restructured balance sheet. John Eggemeyer, who currently serves as the independent Lead Director on the board of PacWest, will become the Chairman of the board of the combined company following the merger.

Pacwest stock

The combined bank will operate under the Banc of California name and brand. We look forward to sharing our expanded capabilities with clients and all the communities we serve. California has experienced a void of business banks that we intend to fill, and we look forward to helping our clients grow and delivering for our clients, communities and shareholders. In connection with the merger, Banc of California, N. As of the merger closing date, Banc of California, N. The combined bank is headquartered in Los Angeles and operates more than 70 branches in California, as well as branches in North Carolina and Colorado. The combined bank has more than 2, team members focused on serving small- to medium-sized businesses through tailored solutions and industry-leading treasury management services. The full-service business bank offers solutions in all areas of commercial and real estate lending, including banking services for healthcare and education. The combined bank provides additional expertise in specialty national business lines, including venture banking, HOA services, small business lending, warehouse lending, and entertainment and media, along with payment processing solutions through its subsidiary, Deepstack Technologies.

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Cunningham's Quality Investing Lawrence G. Top Financial Bloggers. This is based on the ratings of 5 Wall Streets Analysts. LLC 5. Free Barchart Webinars! Business Insider logo The words "Business Insider". Best Dividend Stocks Popular. ET by Steve Goldstein. TipRanks Community. Crypto Center. Inflation Rate Unemployment Rate. Top Insiders Stocks. Know what industry insiders are buying. The bank may manage to find a buyer for all or part of its business, after it announced recently it was exploring strategic alternatives.

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Search Mode. Close Advanced Search. TipRanks Community. ETF Screener Popular. Personal Finance Personal Finance Center. The score provides a forward-looking, one-year measure of credit risk, allowing investors to make better decisions and streamline their work ow. Site News. Collar Spreads Collar Spread. Best High Yield Dividend Stocks. Best Dividend Stocks Popular. Source: FactSet. The bank may manage to find a buyer for all or part of its business, after it announced recently it was exploring strategic alternatives. Cunningham's Quality Investing Lawrence G. Enterprise Solutions.