Banc of California acquires PacWest in an all-stock deal
Santa Ana-based Banc of California is acquiring Beverly Hills-based PacWest Bancorp in an all-stock deal, the companies jointly announced on July 25. The deal, expected to close in the fourth quarter of 2023 or the first quarter of 2024, will create a combined $36 billion in total loans and assets. The bank will be based Read More →
Dubroff: Mozilo made his mark on more than just the mortgage meltdown
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Angelo Mozilo, former CEO of Countrywide Financial, dies at 84
Angelo Mozilo, a co-founder and former CEO of Countrywide Financial, died on July 16 of natural causes, his son, Mark, confirmed on July 17. Mozilo was 84 years old. Countrywide Financial is now known as Bank of America’s home loans branch after being purchased following the 2008 financial crises which saw Countrywide sell for a Read More →
Portfolio watch
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Community Bank of Santa Maria notes key increases in second quarter
The Community Bank of Santa Maria announced its earnings for the second quarter on July 10, finding that it had recorded increases in net income and net loans. In the second quarter, the bank saw net income increase 50.7% year-over-year to $1.3 million. Similarly, net loans increased 8.9% from the second quarter of last year Read More →
Portfolio watch
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Portfolio watch
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