Credit Services & Lending M&A » By The Online Investor Staff, updated Sat., Apr. 17, 1:48 PM
Recent mergers and acquisitions in the Credit Services & Lending M&A category.
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Slide #3. Banc of California — Popular Community Bank's California Branch Network
Acquirer:
Banc of California (NYSE:BANC)
Acquiree:
Popular Community Bank's California Branch Network
Details:
Banc of California Inc. (NASDAQ:BANC) today announced that its wholly owned subsidiary, Banc of California N.A. ("Banc of California"), has entered into an agreement to acquire select assets and assume certain liabilities comprising the California branch network of Popular Community Bank. The transaction accelerates the Company's growth strategy and deepens its presence in the important Los Angeles and Orange County markets. The acquisition will bring 20 retail branches, $1.1 billion in deposits, $1.1 billion in performing loans, certain other assets, real estate and liabilities to Banc of California.
Banc of California is a bank holding company. Through its subsidiary, Co. is engaged in providing products and solutions for businesses, business owners, and individuals through its branches extending from San Diego to Santa Barbara. Co.'s products include: Commercial and Industrial Loans, Commercial Real Estate and Multifamily Loans, Small Business Administration Loans, Construction Loans, Single Family Residential Mortgage Loans, and Other Consumer Loans. Co. also provides a variety of deposit products consisting of interest-bearing and noninterest-bearing demand accounts, savings accounts, money market deposit accounts, and certificates of deposit.
BANC SEC Filing Email Alerts Service
Preferreds: BANCP, BANC.PRC, BANC.PRD, BANC.PRE
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Avg. Broker Rec.
 
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Buy (3.40 out of 4) 51st percentile
(ranked higher than approx. 51% of all stocks covered)
Analysts' Target Price: BANC Stock Forecast Based on Zacks ABR data; powered by Xignite |
