BANC News and Press, Banc of California Inc. From 07/26/23

2023-07-26 11:48:45 ET PacWest Bancorp ( NASDAQ: PACW ) opened 30% up today after Bank of California Inc ( NYSE: BANC ) said it will buy the commercial banking company for $1.10 billion. Details of PacWest-Banc of California merger The all-stock merger will replace each ...

2023-07-26 11:20:29 ET Summary US regional bank stocks have been heavily shorted since the collapse of Silicon Valley Bank, with PacWest Bancorp being a prime target. However, stabilizing deposits have helped share prices recover. PacWest Bancorp announced its agreement to merge w...

2023-07-26 06:44:36 ET Summary The Federal Reserve is expected to raise rates, but future actions are uncertain. The International Brotherhood of Teamsters has reached a tentative agreement with United Parcel Service, which includes wage increases and workplace protections. Pa...

2023-07-26 05:55:30 ET Stock futures are hovering at the flatline early Wednesday, as market players await the Fed's interest rate policy decision later today. Here are some of Wednesday's stock gainers and losers in premarket trading: Biggest stock gainers For further details s...

2023-07-25 17:08:22 ET PacWest Bancorp ( NASDAQ: PACW ), which has been at the center of recent fears about the regional banking sector, delivered Q2 earnings on Tuesday that slightly surpassed Wall Street expectations and fell sequentially and from a year ago. Moments before pu...

2023-07-25 16:57:30 ET Banc of California press release ( NYSE: BANC ): Q2 GAAP EPS of $0.31 in-line. Revenue of $75.66M (-11.5% Y/Y) misses by $1.88M . For further details see: Banc of California GAAP EPS of $0.31 in-line, revenue of $75.66M misses by $1.88M

The Company Also Announced in a Separate Release that it has Entered into a Transformational Merger Agreement with PacWest Bancorp, Including Committed Capital Raise of $400 Million Transaction Also Expected to be Immediately Accretive to Tangible Book Value Pe...

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 TBV...

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 T...

2023-07-25 15:12:58 ET PacWest Bancorp ( NASDAQ: PACW ) is in advanced talks to sell itself to fellow regional lender Banc of California ( NYSE: BANC ) in a deal that could be announced as soon as today, the Wall Street Journal reported Tuesday, citing people familiar wi...