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PacWest, founded in 1999, got bigger in the aftermath of the 2008 financial crisis by scooping up deposits and assets from several banks seized by regulators over a period of several years.
The deal, the latest of several moves by the Beverly Hills, Calif.-based lender to shrink its balance sheet, helped push PacWest's stock up 4% Monday. Several other regional banks also rose.
PacWest and Western Alliance were also among the financial institutions, along with First Republic, that came under intense scrutiny following the March 10 and March 12 failures of Silicon Valley ...
Prosperity Bank 5,100 20 Security Pacific Bank Los Angeles: California November 7, 2008: Pacific Western Bank: 561.1 21 The Community Bank Loganville: Georgia November 21, 2008: Bank of Essex 681.0 22 Downey Savings and Loan Newport Beach: California November 21, 2008: U.S. Bank, N.A. 12,800 23 PFF Bank and Trust Pomona: California November 21 ...
In April 2002, it acquired Upland Bank, with $108 million in assets. [6] In 2005, it acquired Glendora, California–based Foothill Independent Bancorp for $238 million. [7] In 2006, First Community Bancorp combined the two banks it then owned, Pacific Western National Bank and First National Bank, renaming them the Pacific Western Bank. [8]
VersaBank is a Canadian chartered bank headquartered in London, Ontario. Formerly known as the Pacific & Western Bank of Canada, it was founded as a trust company in Saskatoon, Saskatchewan, in 1980 and later moved its head offices to London, Ontario. On August 1, 2002, it was granted a Schedule I Canadian chartered bank licence by the Canadian ...
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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 ...