secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2023-11-22T23:59:59+00:00
Accession:  0001140361-23-054474
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 5.02, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000114036123054474/0001140361-23-054474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000114036123054474/ny20014593x3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-054474

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