Banking & Savings M&A » By The Online Investor Staff, updated Thu., Apr. 18, 2:03 PM
Recent mergers and acquisitions in the Banking & Savings M&A category.
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Slide #48. PacWest Bancorp — CapitalSource
Acquirer:
PacWest Bancorp (PACW)
Acquiree:
CapitalSource (CSE)
Details:
PacWest Bancorp (Nasdaq:PACW) ("PacWest") and CapitalSource Inc. (NYSE:CSE) ("CapitalSource") today provided an update on the expected timing for closing of their merger. PacWest and CapitalSource have received the requisite approvals from the Federal Deposit Insurance Corporation and the California Department of Business Oversight and expect to consummate the transaction promptly following receipt of the requisite approval of the Board of Governors of the Federal Reserve System. The Federal Reserve Board approval does not require a 15 day waiting period before the merger can be closed. PacWest and CapitalSource do not currently expect to receive Federal Reserve Board approval in time to complete the merger on April 1, as previously disclosed. The parties have no reason to believe, however, that Federal Reserve Board approval will not be received in the near term. Once the Federal Reserve Board approval is received, the companies will announce that event and the closing date of the merger.
PacWest Bancorp is a bank holding company. Through its subsidiary, Pacific Western Bank (the Bank), Co. is focused on relationship-based business banking to small, middle-market, and venture-backed businesses nationwide. The Bank provides community banking products including lending and deposit and treasury management services. The Bank provides national lending products including asset-based, equipment, and real estate loans and treasury management services. The Bank also provides venture banking products including a suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors.
Preferred: PACWP
Open the PACW Page at The Online Investor »PacWest Bancorp is a bank holding company. Through its subsidiary, Pacific Western Bank (the Bank), Co. is focused on relationship-based business banking to small, middle-market, and venture-backed businesses nationwide. The Bank provides community banking products including lending and deposit and treasury management services. The Bank provides national lending products including asset-based, equipment, and real estate loans and treasury management services. The Bank also provides venture banking products including a suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors.
Preferred: PACWP
Open the CSE Page at The Online Investor »
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