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2023-07-26 15:45:13 ET Regional bank PacWest Bancorp (NASDAQ: PACW) reported its second-quarter results Tuesday after the bell, with adjusted profits coming in 10% ahead of expectations at $0.22 per share. That wasn't, however, the main reason why PacWest shares soared Wednesday, up...
2023-07-26 15:42:39 ET Summary Shares of PacWest Bancorp fell by 27% on July 25th on rumors of a merger with Banc of California but later rose by over 30% after the market closed. The merger will create the fourth-largest mid-sized bank in California, with $36.1 billion of assets,...
2023-07-26 15:04:30 ET JPMorgan Chase ( NYSE: JPM ) has agreed to acquire $1.8B of single-family residential loans at a discount, people familiar with the matter told Bloomberg on Wednesday, to facilitate PacWest Bancorp's ( NASDAQ: PACW ) sale to Banc of California ( NYSE...
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...
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Banc of California, Inc. (the “Company”) (NYSE: BANC) today announced it will release 2024 second quarter financial results on Tuesday, July 23, 2024. The Company will host a conference call to discuss its second quarter earnings at 10:00 a.m. Pacific Time (PT) on the same day. ...
Banc of California is dedicated to serving entrepreneurs as they grow their companies Banc of California, a wholly owned subsidiary of Banc of California Inc. (NYSE: BANC), announced today the launch of Build@Banc, a service dedicated to providing tailored banking solutions to seed an...
Ann DeVries joins as Senior Vice President to lead investor and analyst outreach and communications and bolsters finance team Banc of California, a wholly owned subsidiary of Banc of California, Inc. (NYSE: BANC), announced today that Ann DeVries has joined as Senior Vice President, S...