First California rejects PacWest takeover bid
Westlake Village-based First California Financial Group has spurned an unsolicited takeover offer from Los Angeles-based PacWest Bancorp. First California, a $2 billion bank whose profits dropped drastically in the first quarter, is under pressure from three major shareholders to sell itself and has hired an investment banking firm to help evaluate its options. The company Read More →
American Perspective reports $462K in profits ahead of PacWest deal
American Perspective Bank, the San Luis Obispo-based lender being pursued by PacWest Bancorp, reported first-quarter profits of $462,000, about the same as it earned in the same period a year earlier. American Perspective is being purchased by Los Angeles-based PacWest, parent of Pacific Western Bank, in a $58.1 million deal announced April 30. The offer Read More →
$58.1M PacWest offer puts American Perspective in bidding war
PacWest Bancorp’s $58.1 million offer to buy American Perspective Bank has trumped an earlier deal for the Central Coast lender. The April 30 acquisition offer from Los Angeles-based PacWest, parent of Pacific Western Bank, comes three weeks after Umpqua Holdings Corp. of Oregon said it would buy American Perspective for $44.7 million in cash, or Read More →
Community West earned $819K in Q1
First-quarter profits at Community West Bancshares were up 38 percent to $819,000, the Goleta-based banking company said April 30. The parent of Community West Bank is under regulatory orders from the Federal Reserve Bank of San Francisco and Office of the Comptroller of the Currency that limit its ability to pay out dividends, sell stock Read More →
