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Stock Market & Financial Investment News

News Breaks
August 19, 2014
17:20 EDTBANCPL Capital raises stake in Banc of California to 7.9% from 7.5%
The PL Capital Group has significant concerns and questions about the company’s corporate governance, operating performance, financial projections and compensation plans. PL Capital Group’s intent is to engage in a dialogue with the management and board of the company 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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November 12, 2014
07:28 EDTBANCBofA/Merrill to hold a conference
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November 10, 2014
09:03 EDTBANCBanc of California completes acquisition of Popular unit
Banc of California (BANC) announced the Company’s wholly owned banking subsidiary, Banc of California, N.A., completed its acquisition of select assets and assumption of certain liabilities of the California branch network of Popular Community Bank, the U.S. banking subsidiary of Popular, Inc. (BPOP) on November 8, 2014. The acquisition included twenty branch locations and approximately $1.1 billion in loans and $1.1 billion in deposit balances. The Company’s total assets upon completion of the transaction exceed $5.5 billion. In addition, the Company announced that it had completed the previously announced sale of common stock to funds affiliated with Oaktree Capital Management, L.P. and Patriot Financial Partners, L.P. Wachtell, Lipton, Rosen & Katz served as legal advisor to the Company on the acquisition and capital raise transactions.

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