---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-054474"
form_type: "8-K"
ticker: "BANC"
cik: "0001169770"
company_name: "BANC OF CALIFORNIA, INC."
filed_at: "2023-11-22T23:59:59+00:00"
generated_at: "2026-06-07T22:05:42.717025+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Banc of California and PacWest receive stockholder approvals; merger expected to close Nov 30

## Summary
- Each company's stockholders voted >98% in favor of the merger proposal.
- Closing expected on or around November 30, 2023, subject to conditions.
- Combined company pro forma: ~$36B assets, $25B loans, $30B deposits, 70+ branches in CA, NC, CO.
- Stockholders approved A&R 2018 Omnibus Stock Incentive Plan with 6.3M new shares.
- Exemption from ownership limit approved for Warburg Pincus and Centerbridge investors.

## SEC filing metadata
- accession: 0001140361-23-054474
- form_type: 8-K
- ticker: BANC
- cik: 0001169770
- company_name: BANC OF CALIFORNIA, INC.
- filed_at: 2023-11-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1169770/000114036123054474/0001140361-23-054474-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1169770/000114036123054474/ny20014593x3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-054474
- JSON: https://secwatch.observer/filing/0001140361-23-054474.json
- Plain text: https://secwatch.observer/filing/0001140361-23-054474.txt

## Key facts
- Shareholder Votes
  BANC OF CALIFORNIA, INC. shareholders approved Approval of amendment and restatement of Banc of California, Inc. 2018 Omnibus Stock Incentive Plan.
  - Proposal: equity plan
  - Outcome: passed
  source text: Item 2 - Banc of California Incentive Plan Proposal . A proposal to approve the amendment and restatement of Banc of California’s existing 2018 Omnibus Stock Incentive Plan, to be renamed the Amended and Restated Banc of California, Inc. 2018 Omnibus Stock Incentive Plan
  evidence_url: https://www.sec.gov/Archives/edgar/data/1169770/000114036123054474/0001140361-23-054474-index.htm
- Shareholder Votes
  BANC OF CALIFORNIA, INC. shareholders approved Approval of issuance of Banc of California common stock to PacWest stockholders and to investors pursuant to investment agreements.
  - Proposal: merger approval
  - Outcome: passed
  source text: Item 1 - Banc of California Issuance Proposal . A proposal to approve (i) the issuance of Banc of California common stock to holders of PacWest common stock pursuant to the Merger Agreement, and (ii) the issuance of Banc of California common stock, a new class of non-voting, common-equivalent stock of Banc of California and certain warrants to affiliates of funds managed by Warburg Pincus LLC
  evidence_url: https://www.sec.gov/Archives/edgar/data/1169770/000114036123054474/0001140361-23-054474-index.htm
- Shareholder Votes
  BANC OF CALIFORNIA, INC. shareholders approved Approval of amendment to Section F of Article 6 of the Banc of California Charter to exempt Warburg Investors and affiliates from certain provisions.
  - Proposal: charter amendment
  - Outcome: passed
  source text: Item 3 - Banc of California Exemption Amendment Proposal . A proposal to approve the amendment of Section F of Article 6 of the Second Articles of Restatement of Banc of California
  evidence_url: https://www.sec.gov/Archives/edgar/data/1169770/000114036123054474/0001140361-23-054474-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.