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Pacwest Bancorp Del - PACW STOCK NEWS

Welcome to our dedicated page for Pacwest Bancorp Del news (Ticker: PACW), a resource for investors and traders seeking the latest updates and insights on Pacwest Bancorp Del stock.

Banc of California, Inc. (NASDAQ: PACW) delivers essential banking services to businesses and communities through Pacific Western Bank. This news hub provides investors and stakeholders with official updates on strategic developments, financial performance, and regulatory milestones.

Access real-time information about the company's transformative merger with Banc of California, approved by federal and state regulators. Track operational updates across 70+ branches and key financial metrics, including recent improvements in noninterest income and deposit growth strategies.

Our curated collection includes:
• Merger implementation details
• Quarterly earnings reports
• Regulatory filings
• Leadership announcements
• Community initiative updates

Bookmark this page for verified updates on PACW's business banking services, treasury management solutions, and economic development programs supporting small businesses across California and beyond.

News

KBRA Affirms Ratings for Banc of California, Inc. and Withdraws Ratings for PacWest Bancorp

Rhea-AI Summary
KBRA affirms ratings for Banc of California, Inc. (NYSE: BANC) and Pacific Western Bank, now operating as Banc of California, following their merger. The merger, including a $400 million equity raise, is seen as strategically favorable, with the company's leadership team largely retained. The combined entity is expected to improve its funding profile and capital ratios, positively impacting bondholders.
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Banc of California Announces Completion of Transformational Merger with PacWest Bancorp and $400 Million Equity Raise

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Banc of California, Inc. (NYSE: BANC) completes a transformational merger with PacWest Bancorp (Nasdaq: PACW) to emerge as the third-largest bank headquartered in California and one of the nation’s premier relationship-focused business banks. The combined bank will operate under the Banc of California name and brand. Banc of California also completed a $400 million equity raise from affiliates of funds managed by Warburg Pincus LLC and certain investment vehicles sponsored, managed or advised by Centerbridge Partners, L.P. and its affiliates.
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Banc of California and PacWest Bancorp Receive Stockholder Approvals for their Merger

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Banc of California, Inc. (BANC) and PacWest Bancorp (PACW) have received in excess of 98% approval of the shares voted from each of their stockholders for the proposed merger. The transaction is expected to close around November 30, 2023, creating a combined company with approximately $36 billion in assets, $25 billion in total loans, $30 billion in total deposits, and more than 70 branches in California, as well as branches in North Carolina and Colorado.
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PacWest Bancorp Announces Quarterly Dividends

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PacWest Bancorp (Nasdaq: PACW) has declared a quarterly cash dividend of $0.01 per common share and $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividends will be payable on November 27 and November 28, 2023, respectively, to stockholders of record as of November 13, 2023.
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PacWest Bancorp Announces Results for the Third Quarter 2023

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PacWest Bancorp reports net loss of $33.3 million in Q3 2023. Pending merger with Banc of California on track to close by November 30, 2023. Bank expects return to normalized funding levels and improved profitability. Noninterest expense down 14% in Q3. Allowance for loan and lease losses ratio increased. Community Banking deposits grew by 2%. Repurchase agreement facility to be repaid in December 2023.
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PacWest Bancorp and Banc of California Receive Final Regulatory Approval for Merger

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PacWest Bancorp has received regulatory approvals for its merger with Banc of California, Inc. The transaction is expected to close before the end of 2023, creating a combined company with $36 billion in assets and more than 70 branches in California.
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Banc of California Receives Final Regulatory Approval for its Merger with PacWest Bancorp

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Banc of California and PacWest receive regulatory approval for merger
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PacWest Bancorp Announces Third Quarter Earnings Release Date

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PacWest Bancorp to report Q3 2023 financial results on October 24, 2023
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Banc of California and Rise Economy Announce $4.1 Billion Community Benefits Plan

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Banc of California and Rise Economy announced a $4.1 billion, three-year Community Benefits Plan. The Plan includes goals such as small business lending of $1.45 billion and community development lending of $2.3 billion. The combined institution also plans to invest $300 million in community development and $20 million in Affordable Housing Preservation efforts. Additionally, the bank will focus on supporting climate resiliency programs and tribal and indigenous communities. The Plan will become effective upon consummation of the proposed merger with PacWest Bancorp.
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PacWest Bancorp Announces Quarterly Dividends

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PacWest Bancorp declares quarterly cash dividends on common shares and preferred stock
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Pacwest Bancorp Del

NYSE:PACW

PACW Rankings

N/A Ranked by Market Cap
N/A Ranked by Dividends

PACW Stock Data

904.52M
116.38M
1.53%
84.88%
20.89%
Banks - Regional
Financial Services
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United States
Beverly Hills