January 31, 2023
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Latest

PacWest to buy First California for $231M

By   /  Tuesday, November 6th, 2012  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on PacWest to buy First California for $231M

Los Angeles-based PacWest Bancorp is buying First California Financial Group for $231 million in an all-stock deal. At $8 per share, PacWest’s price represents an 18.5 percent premium over First California’s share price at the close on Nov. 6. The deal also comes after months of tense negotiations between the rival banks. PacWest offered $7.25 Read More →

Latest

PacWest closes American Perspective deal

By   /  Thursday, August 2nd, 2012  /  Banking & Finance, Banking Industry, Central Coast, Latest news, Tri-County Public Companies  /  Comments Off on PacWest closes American Perspective deal

PacWest Bancorp has wrapped up its $58.1 million acquisition of San Luis Obispo-based American Perspective Bank. The deal adds two branches, a loan production office and about $271 million in assets to Los Angeles-based PacWest’s portfolio and expands its reach up the Central Coast. The deal, first announced in April, trumped an earlier offer for Read More →

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Banks lead region’s stocks at midyear

By   /  Friday, June 1st, 2012  /  Banking & Finance, Top Stories, Tri-County Public Companies  /  Comments Off on Banks lead region’s stocks at midyear

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Latest

First California faces more shareholder dissent

By   /  Tuesday, May 29th, 2012  /  Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies  /  Comments Off on First California faces more shareholder dissent

Investors who own 5.4 percent of First California Financial Group’s shares have joined the ranks of disgruntled stockholders after the bank snubbed a buyout offer from Los Angeles-based PacWest Bancorp. A letter dated May 23 from Loeb Offshore Management out of New York came through in the bank’s regulatory filings on May 29. Addressing Westlake Read More →

Latest

Shareholder threatens to oust board after First California rejects offer

By   /  Monday, May 14th, 2012  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Shareholder threatens to oust board after First California rejects offer

An aggressive major shareholder in First California Financial Group has threatened to move to oust the company’s board after the bank rejected a buyout offer from PacWest Bancorp. New York-based Basswood Capital Management, which said in a regulatory filing that it owns 5.2 percent of the common stock of First California, issued the sternly worded Read More →