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Banc of California Announces Completion of Transformational Merger with PacWest Bancorp and $400 Million Equity Raise

Banc of California has completed its merger with PacWest Bancorp, creating the third largest bank headquartered in California. The combined business, which will operate under the Banc of California name, also completed a $400 million equity raise from various investment groups. The bank has sold around $1.9 billion in assets as part of a balance sheet repositioning strategy.

Source: finance.yahoo.com –

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