{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-036791","form_type":"8-K","ticker":"BANC","cik":"0001169770","company_name":"BANC OF CALIFORNIA, INC.","filed_at":"2023-07-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.285590+00:00","generated_at":"2026-06-12T22:50:31.164982+00:00","sec_items":["1.01","3.02","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"Banc of California merges with PacWest; investors inject $400M at $12.30/share","bullets":["PacWest stockholders to receive 0.6569 BANC shares per PACW share; preferred converts to new BANC preferred.","Warburg Pincus and Centerbridge invest $400M at $12.30/share; warrants at $15.375 with 7-yr term.","Combined bank will operate as Banc of California, headquartered in Los Angeles; BANC CEO to lead.","Board: 8 from BANC, 3 from PacWest, 1 Warburg nominee; PacWest lead director to become chairman.","Deal expected to close late 2023/early 2024, subject to regulatory and stockholder approvals."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-036791","json":"https://secwatch.observer/filing/0001140361-23-036791.json","markdown":"https://secwatch.observer/filing/0001140361-23-036791.md","text":"https://secwatch.observer/filing/0001140361-23-036791.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1169770/000114036123036791/0001140361-23-036791-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1169770/000114036123036791/brhc20056446_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T22:50:31.164982+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"fcbaed9f8b09f1592d122c9f92856e1ceb1f3c25","claim":"BANC OF CALIFORNIA, INC. entered into Agreement and Plan of Merger with PacWest Bancorp (effective 2023-07-25).","evidence_excerpt":"On July 25, 2023, Banc of California, Inc., a Maryland corporation (“ Banc of California ”), PacWest Bancorp, a Delaware corporation (“ PacWest ”), and Cal Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Banc of California (“ Merger Sub ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1169770/000114036123036791/0001140361-23-036791-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"PacWest Bancorp"},{"label":"Effective","value":"2023-07-25"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}