Banc of California (BANC) completes the acquisition of PacWest Bancorp. The all-stock deal, announced in July, will serve the banking needs of small and medium-sized businesses in California.

Underperforming bank stocks are casting a shadow over the U.S. financial landscape on the back of diminished investor confidence, shaken by the March banking crisis. The banking sector, still reeling from the Silicon Valley Bank collapse and struggles of smaller lenders, has yet to see the same benefits of rising interest rates. This bleak scenario underscores how the industry has struggled to bounce back from the 2008 financial crisis, hampered by waves of multiple new regulations and low retur

LOS ANGELES, November 30, 2023--Banc of California, Inc. ("Banc of California") (NYSE: BANC) today announced the completion of its transformational merger with PacWest Bancorp ("PacWest") (Nasdaq: PACW), pursuant to which PacWest has merged into Banc of California, and as of December 1, 2023, Banc of California, N.A. will have merged into Pacific Western Bank (the "combined bank"). The combined bank will operate under the Banc of California name and brand. Concurrent with the completion of the m

S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 effective prior to the open of trading on Thursday, November 30:

Quite a few insiders have dramatically grown their holdings in PacWest Bancorp ( NASDAQ:PACW ) over the past 12 months...

PacWest (PACW) and Banc of California (BANC) receive shareholder approval for their merger deal. The transaction is expected to close on or around Nov 30, 2023, as planned.

Merger proposal receives in excess of 98% approval of the shares voted from each of Banc of California and PacWest Bancorp stockholdersSANTA 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

As an income investor, it’s hard to forgive bad dividend stocks. While some can be bad for their fundamentals, the biggest sin of a dividend stock is when they reduce or even eliminate the payout. Why should you be concerned about that? Companies don’t take the step of cutting a dividend lightly, because Wall Street’s reaction can be pretty severe. Companies that cut their dividend are usually in some financial distress or have made some pretty serious management miscalculations. This is a brigh

The Fed certainly didn't rule out another interest rate hike on Wednesday, but markets are celebrating nonetheless. Investors bought up 10-year Treasurys, causing yields to fall below 4.7%, settling at 4.

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