secwatch.observer — SEC 8-K summary
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Issuer:     PACWEST BANCORP (—)
CIK:        0001102112
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001104659-23-122852
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 3.01, 3.03, 5.03, 5.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PacWest Bancorp completes merger with Banc of California; stockholders receive 0.6569 BANC shares per PACW share
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- Merger closed Nov 30; each PACW share converted to 0.6569 BANC shares; PACW delisted from Nasdaq.
- Three PacWest directors (Eggemeyer, Burke, Lester) appointed to BANC board; Eggemeyer as Chairman.
- PacWest sold ~$1.9B in securities and plans to sell $1.8B SFR portfolio to repay wholesale borrowings.
- PacWest's certificate of incorporation and bylaws amended; preferred stock converted to new BANC preferred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1102112/000110465923122852/0001104659-23-122852-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1102112/000110465923122852/tm2331882d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-122852

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