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Stock Market & Financial Investment News

News Breaks
July 1, 2014
17:49 EDTBANCPL Capital sees Banc of California as undervalued, seeks dialogue with company
PL Capital, which owns a 7.5% stake in Banc of California, said it acquired the common stock because it believes the Common Stock is undervalued. The PL Capital Group also has significant concerns and questions about Banc of California’s corporate governance, operating performance, financial projections and compensation plans. PL Capital added, "PL Capital Group’s intent is to engage in a dialogue with the management and board of Banc of California to address these concerns and questions. If needed, the PL Capital Group will assert its stockholder rights."
News For BANC From The Last 14 Days
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October 23, 2014
16:18 EDTBANCBanc of California obtains regulatory approval for Popular Community Bank branch
Banc of California announced receipt of regulatory approval from the Office of the Comptroller of the Currency for the previously announced acquisition by Banc of California, N.A., the company’s wholly owned banking subsidiary, of Popular Community Bank’s California branch operations, consisting of twenty branches representing approximately $1.1B in loans and $1.1B in deposit balances. The transaction is expected to close on November 7, pending satisfaction of other customary closing conditions. Upon closing of the transaction, Banc of California will have 38 branches and over $5.5B in total assets.

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