BANC Stock Recent News

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced it will release 2023 third quarter financial results before the stock market opens on Tuesday, October 24, 2023. A conference call will be held that same day at 10:00 a.m. Pacific Time (PT) to review financial results. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 5886712. A live audio webcast will also be available on the Webcasts page of.

Wells Fargo analyst Timur Braziler downgraded four U.S. regional banks Wednesday, sharing his four top picks as he assumed coverage of the sector.

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D.A. Davidson on Monday upgraded PacWest Bancorp PACW, -1.90% to buy from neutral to bring it up to the same rating as upcoming acquirer, Banc of California BANC, -2.49%, as announced last week. “We think that transaction is beneficial to shareholders of both companies, and accelerates the recovery of value for PACW shareholders in the wake of the March bank liquidity crisis,” D.A.

Banc of California, Inc. (NYSE:BANC ) Q2 2023 Earnings Call Transcript July 26, 2023 12:00 PM ET Company Participants Jared Wolff - President and Chief Executive Officer Joseph Kauder - Chief Financial Officer Paul Taylor - President and Chief Executive Officer of PacWest Kevin Thompson - EVP, Chief Financial Officer of PacWest Conference Call Participants Matthew Clark - Piper Sandler Christopher McGratty - KBW Andrew Terrell - Stephens Gary Tenner - D.A. Davidson Timothy Coffey - Janney Kelly Motta - KBW Timur Braziler - Wells Fargo David Feaster - Raymond James Operator Hello, and welcome to the conference call to discuss Banc of California and PacWest Merger and Second Quarter Earnings.

JPMorgan Chase & Co (NYSE:JPM) will acquire $1.8 billion of single-family residential loans to assist Banc of California (NYSE:BANC)'s acquisition of PacWest Bancorp, according to Reuters, citing an insider familiar with the deal. The merger between Banc of California and PacWest, supported by a $400 million equity infusion from Warburg Pincus and Centerbridge Partners, will establish a bank with $36 billion in assets.

Banc of California Inc.'s proposed agreement to acquire PacWest Bancorp. helped send regional-bank stocks considerably higher on Wednesday.

Imperiled bank PacWest shares soared in early trade on Wednesday after news of its merger with smaller rival Banc of California in a $1.1 billion all-stock deal.

In a significant development in the banking sector, Banc of California (NYSE:BANC) and PacWest Bancorp have announced their intention to merge, forming a new entity with assets totalling $36 billion. The move comes in the wake of a turbulent period for regional banks, and the merger is seen by some as a strategic response to these challenges.

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