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Banc of California announced the acquisition of Pacific Mercantile Bank in March 2021 in a transaction valued at $235 million. [ 14 ] In July 2023, a few months after bank runs in regional banks caused a banking crisis , Banc of California agreed to rescue and acquire Pacific Western Bank in an all-stock deal aimed at shoring up confidence in them.
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 September 2003, the bank opened a branch in La Habra, California. [2] In 2000, the company became a public company via an initial public offering. [3] In October 2004, the bank opened a branch in Long Beach, California. [4] [5] In 2005, the company exited the wholesale mortgage business. [6]
Banc One Corp. First USA: Bank One Corp. JPMorgan Chase: 1997 First Nationwide Bank California Federal Bank: California Federal Bank: $1.2 billion, 1st Nationwide rebranded as "Cal Fed." Citibank: 1998 NationsBank Corp. Barnett Banks, Inc. NationsBank Corp. Bank of America: 1998 First Union Corporation: CoreStates Financial Corp.
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 ...
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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]
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