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Banc of California's one branch on the Central Coast is located in downtown Santa Barbara. (Jorge Mercado / PCBT Staff) Santa Ana-based Banc of California is acquiring Beverly Hills-based PacWest Bancorp in an all-stock deal, the companies jointly announced on July 25. The deal, expected to close in the fourth quarter of 2023 or the
The firms will carry the Banc of California name and that firm’s chief executive officer Jared Wolff will lead management.
PacWest Bancorp is merging with smaller rival Banc of California as it seeks to weather the upheaval that has riled the regional banking sector since earlier this year.
(Bloomberg) -- PacWest Bancorp is being bought by smaller rival Banc of California as it seeks to navigate a bout of upheaval that brought down a handful of its peers.Most Read from BloombergChina Replaces Foreign Minister After Mysterious AbsenceRolex, Patek Prices to Keep Falling as Supplies Remain High, Morgan Stanley SaysUK Billionaire Joe Lewis Charged in US With Insider TradingNatWest CEO Alison Rose Steps Down After Nigel Farage Row‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Me
Hammad Hussain sat down for an interview with the Business Journal to discuss the uncertainty of inflation and the economy.