BANC - Dividend announcements

Combined bank emerges as the third-largest bank headquartered in California and one of the nation's premier relationship-focused business banks 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 merger, Banc of California also completed its $400 million equity raise from affiliates

Merger proposal receives in excess of 98% approval of the shares voted from each of Banc of California and PacWest Bancorp stockholders 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 of California and PacWest. The final results for the proposals voted on at the special meetings of each company's stockholders held today will be set forth in the companies' separate Current Reports on Form 8-K to be filed with the U.S. Securities and Exchange

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 of California and PacWest. The final results for the proposals voted on at the special meetings of each company's stockholders held today will be set forth in the companies' separate Current Reports on Form 8-K to be filed with the U.S. Securities and Exchange Commissions (the "SEC"). The transaction is expected to close as pla

Banc of California, Inc. ("Banc of California") (NYSE:BANC) today announced the appointments of Todd Schell, a principal of Warburg Pincus LLC, and John M. Eggemeyer, Paul R. Burke, and Susan E. Lester, each directors of PacWest Bancorp ("PacWest"), to the board of directors of Banc of California (the "Board"), with Mr. Eggemeyer to serve as Chairman of the Board, effective as of and contingent upon the closing of the anticipated merger with PacWest. The merger is expected to close on or about November 30, 2023, subject to the satisfaction of remaining closing conditions including receipt of the requisite stockholder approvals. In connection with and contingent upon the closing of the merge

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 California acquiring control of Pacific Western Bank and of the merger of Banc of California, N.A. and Pacific Western Bank. No further regulatory approvals are required to complete the propo

Banc of California, Inc. ("Banc of California") (NYSE:BANC) and 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 Banc of California and PacWest and their respective bank subsidiaries, Banc of California, N.A. and Pacific Western Bank. In addition, on October 5, 2023, the California Department of Financial Protection and Innovation granted its approval of the merger of Banc of California, N.A. and Pacific Western Bank. No further regulatory approvals are required to complete the proposed transaction. The consummation of the proposed transaction is expected to clo

Banc of California, N.A. ("Banc of California"), a wholly-owned subsidiary of Banc of California, Inc. (NYSE:BANC) and Rise Economy announced today a $4.1 billion, three-year Community Benefits Plan (the "Plan"). Banc of California and Rise Economy (formerly the California Reinvestment Coalition) leaders worked collaboratively to develop the expansive plan in connection with Banc of California's transformational merger with Pacific Western Bank, a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). The Plan is intended to make a meaningful and positive impact in communities served by the combined institution. The Plan includes the following goals and targets, among others, of the co

New role signals emphasis on brand strategy to support growth Banc of California, Inc. (NYSE:BANC) (the "Company") announced today that Debora Vrana has joined its wholly owned subsidiary, Banc of California, N.A. (the "Bank"), California's premier relationship-focused business bank, in the newly created role of Executive Vice President and Chief Communications Officer. She will also join the Bank's senior management committee and sit on the board of the Bank's philanthropic foundation. Ms. Vrana, who joined on September 11, 2023, will lead an experienced team responsible for advancing the Bank's brand and developing and implementing marketing and communications strategies to drive busi

Banc of California, Inc. (NYSE:BANC) today reported net income of $14.4 million and net income available to common stockholders for the first quarter of 2021 of $7.8 million, or diluted earnings per common share of $0.15. Highlights for the first quarter included: Return on average assets of 0.74% Average cost of total deposits of 0.28%, an 8 basis point decrease from the prior quarter, and period-end total cost of deposits of 0.24% Noninterest-bearing deposit balances represented 28% of total deposits at March 31, 2021, up from 23% a year earlier Allowance for credit losses at 1.43% of total loans and 148% of non-performing loans Total deferrals/forbearances declined to $108.7 m

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today reported net income of $21.7 million and net income available to common stockholders for the fourth quarter of 2020 of $17.7 million, or diluted earnings per common share of $0.35. Highlights for the fourth quarter included: Return on average assets of 1.11% Net interest margin of 3.38%, a 29 basis points increase from the prior quarter Average cost of total deposits of 0.36%, a 15 basis points decrease from the prior quarter, and period-end cost of deposits at 0.29% Noninterest-bearing deposit balances increased $108.5 million during the quarter and represented 26% of total deposits at December