ALERT: BEWARE OF BANK IMPERSONATION CALLS, TEXTS AND EMAIL
Please note that the banking industry has observed a concerning rise in impersonation scams that aim to take over bank accounts and steal money using Zelle, ACH or wire. Before you provide any information to an email request, text or phone call, please make sure you know the identity of anyone requesting information or call our Client Care Center at 877-770-2262 for verification.
Banc of California Agrees to Buy PACWEST as Regional Lenders Seek Strength Together
July 25, 2023
Private-equity firms Warburg Pincus and Centerbridge provide only external source of funding for acquisition
Banc of California agreed to buy PacWest Bancorp in a move by the lenders to further shore themselves up following a regional-banking crisis earlier this year.
While the value of the tie-up isn’t huge by M&A standards, at just over $1 billion, it is a major milestone for a banking sector that was in turmoil earlier in the year and still faces questions about its health.