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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 ...
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.
The bank was founded in October 1999 [1] [4] as First Community Bancorp. In March 2002, it acquired Capital Bank of North County. [5] 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]
CapitalSource was acquired by PacWest Bancorp in July 2013 for around $2.29 billion. [8] The merger received final regulatory approval on April 1, 2014. [ 1 ] In the agreement, CapitalSource, trading as CSE, ceased to trade at market close on April 7, 2014.
Cape Fear Bank: Chapter 11 bankruptcy and liquidation financial company [58] April 10, 2009: New Frontier Bank: Chapter 11 bankruptcy and liquidation Bank [59] April 17, 2009: American Sterling Bank: Metcalf Bank: Bank [60] April 24, 2009: American Southern Bank: Georgia Department of Banking and Finance: Bank $ 216,600,000 [61] May 8, 2009 ...
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 ...
PacWest ended Tuesday down 28%, while Western Alliance dropped 15%. Other regional banks also plummeted, including Zions ( ZION ), Comerica ( CMA ) and Key ( KEY ), which all fell between 9-12%.
PacWest Bancorp, parent company of Pacific Western Bank in Los Angeles, California, United States; PacWest Center, a 29-story office building in Portland, Oregon; PacWest Racing, Bruce McCaw's Champ Car racing team in operation from 1993 to 2002; Pac-West Telecomm, a wholesale telecommunications carrier headquartered in Oakland, California