FCAL merger with PacWest set to close May 31
Los Angeles-based PacWest Bancorp and Westlake Village-based First California Financial Group have received the go-ahead from federal banking regulators to finalize a $237 million merger. The deal, which will merge First California into PacWest and likely result in about a dozen overlapping branches being shuttered, is expected to close on May 31. The banks said Read More →
PennyMac shares jump 2.6% on second day of trading
Shares of PennyMac Financial Services climbed another 2.6 percent the day after they started trading publicly for the first time. The Moorpark-based company, founded in 2008 by former top executives at Countrywide Financial Corp., raised just over $200 million in its initial public offering of stock after opening with a share price of $18.25 on Read More →
PennyMac prices IPO at $17 to $19
Moorpark-based PennyMac Financial Services has priced its initial public offering of stock at $17 to $19 per share, indicating plans to raise as much as $211.1 million in its launch on the New York Stock Exchange. PennyMac, headed by former Countrywide Financial Corp. President Stanford Kurland, employs more than 600 people in Moorpark and more Read More →
Heritage Oaks’ Q1 profits jump as bank prepares to pay off TARP
Heritage Oaks Bancorp reported a $3.7 million first-quarter profit, up 131 percent over a year earlier, and said it is gearing up to repay $25 million in bailout funds it took at the height of the recession. The repayment comes with the announcement that two sets of banking regulators have lifted an order over the Read More →
Umpqua Bank returns to market with new branch in Templeton
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