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The Banc of California has agreed to buy PacWest Bancorp in an all-stock transaction, bringing an end to months of speculation about whether PacWest could survive on its own after the failures of ...
In October 2015, it acquired Square 1 Financial Inc., the parent company of Durham, North Carolina–based Square 1 Bank with $3.1 billion in assets, for $815 million and became the sixth largest publicly traded bank in California. [14] [15] [16] In January 2019, PacWest retired the CapitalSource and Square 1 Bank brand names. [17]
PacWest announced a $3.5 billion sale of loans to alternative investment manager Ares Management, providing another lift to a regional bank hammered during the industry chaos earlier this year.
Shares of smaller regional lender PacWest Bank plunged nearly 50% Thursday after the company confirmed reports that it was considering "strategic options," that may include the sale of the company.
Kevin Lee Poulsen (born November 30, 1965) is an American convicted fraudster, former black-hat hacker and a contributing editor at The Daily Beast. Biography.
It is a division of Pacific Western Bank and provides senior debt loans of $5 million to $100 million to middle-market companies throughout the United States. The company targets specific industries in its portfolio of holdings, particularly focusing on technology, real estate, healthcare, security, small business, golf finance, and equipment ...
PacWest Bancorp is set to merge with Banc of California and raise $400 million in equity, according to a joint announcement the banks released Tuesday afternoon, ahead of their second-quarter ...
Regional bank stocks fell sharply Tuesday as the fallout from the third major bank failure this year continued to put pressure on the sector. PacWest falls more than 20% as regional bank stocks ...