Uncle Sam might sell off stake in Heritage Oaks
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First California faces more shareholder dissent
Investors who own 5.4 percent of First California Financial Group’s shares have joined the ranks of disgruntled stockholders after the bank snubbed a buyout offer from Los Angeles-based PacWest Bancorp. A letter dated May 23 from Loeb Offshore Management out of New York came through in the bank’s regulatory filings on May 29. Addressing Westlake Read More →
Minority group opposes PCBC-Union deal
The San Francisco African American Chamber of Commerce has told banking regulators that it opposes Union Bank’s $1.5 billion acquisition of Santa Barbara-based Pacific Capital Bancorp, according to the business newspaper for that region. The San Francisco Business Times reports that the chamber has told regulators it opposed the deal because it feels San Francisco-based Read More →
Spurned bid for First California sets off battle of the banks
Westlake Village-based First California Bank has rejected an unsolicited all-stock takeover offer from Los Angeles-based PacWest Bancorp at $7.25 a share, 32 percent higher than First California’s recent trading price. For its part, PacWest has signaled publicly that it now wants to enlist the energy of disgruntled First California shareholders to help push through a Read More →
First California rejects PacWest takeover bid
Westlake Village-based First California Financial Group has spurned an unsolicited takeover offer from Los Angeles-based PacWest Bancorp. First California, a $2 billion bank whose profits dropped drastically in the first quarter, is under pressure from three major shareholders to sell itself and has hired an investment banking firm to help evaluate its options. The company Read More →
