Banc of California and PacWest Bancorp Receive Stockholder Approvals for their Merger Merger proposal receives in excess of 98% approval of the shares voted from each of Banc of California and PacWest Bancorp stockholders SANTA ANA, Calif. and LOS ANGELES, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Banc of California, Inc. (“Banc of California”) (NYSE: BANC) and PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today jointly announced that, at their respective special meetings of stockholders held earlier today, they each received the necessary stockholder approval for the proposed combination of Banc ...
PacWest Bancorp Announces Quarterly Dividends LOS ANGELES, Nov. 01, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per common share. The cash dividend is payable on November 27, 2023 to stockholders of record at the close of business on November 13, 2023. The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable November 28, 2023 to stockholde...
PacWest Bancorp Announces Results for the Third Quarter 2023 THIRD QUARTER 2023 HIGHLIGHTS Net loss available to common stockholders of $33.3 million, or a loss of $0.28 per diluted sharePending merger with Banc of California, Inc. is on track with all regulatory approvals received and is expected to close on or about November 30, 2023The Bank put in place a large liquidity base to cautiously navigate the end of the first quarter of 2023 through the third quarter of 2023. The excess borrowings, including $1.4 billion of brokered dep...
PacWest Bancorp and Banc of California Receive Final Regulatory Approval for Merger LOS ANGELES, Oct. 19, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today announced that the Board of Governors of the Federal Reserve System granted its approval of the previously announced combination of PacWest and Banc of California, Inc. (“Banc of California”) and their respective bank subsidiaries, Pacific Western Bank and Banc of California, N.A. In addition, on October 5, 2023, the California Department of Financial Protection and Innovation granted its approval of Banc of Cal...
PacWest Bancorp Announces Third Quarter Earnings Release Date LOS ANGELES, Oct. 05, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) (the “Company” or “PacWest”) will report its financial results for the quarter and year-to-date period ended September 30, 2023 before the opening of the stock market on Tuesday, October 24, 2023. The Company will file its quarterly financial results with the SEC via Form 8-K and issue a press release via newswire, which will also be posted on the SEC Filings section of its website at . ABOUT PACWEST BANCORP PacWest is a bank holding company headq...
PacWest Bancorp Announces Quarterly Dividends LOS ANGELES, Aug. 02, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per common share. The cash dividend is payable on August 31, 2023 to stockholders of record at the close of business on August 15, 2023. The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable September 1, 2023 to stockholders o...
PacWest Bancorp Announces Results for the Second Quarter 2023 SECOND QUARTER 2023 HIGHLIGHTS Net loss available to common stockholders of $207.4 million, or a loss of $1.75 per diluted share as the quarter was impacted by items related to loan sales and restructuring of our Civic subsidiaryAdjusted earnings of $36.0 million and adjusted diluted earnings per common share of $0.22, which exclude the effect of loan sales, lower of cost or market held for sale (“LOCOM HFS”) adjustments, and reorganization costs as detailed belowExecuted on strategic plan to divest non-core loan portfolios incl...
Banc of California and PacWest Announce Transformational Merger and $400 Million Equity Raise from Warburg Pincus and Centerbridge Combination will create California’s premier relationship-focused business bank Combined $36 billion asset bank with extensive Southern CA footprint to be headquartered in Los Angeles 20%+ accretion to BANC’s 2024 Estimated EPS and immediately 3% accretive to TBVPS$400 million equity raise is fully committed after extensive investor due diligenceRobust capital at 10%+ pro forma CET1; hedges and forward sales lock in a strong and liquid balance sheet at close$13...
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