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News Breaks | | | | September 6, 2012 | | 07:07 EDT |  | PACW | Opus Bank acquisition of 10 PacWest Bancorp offices receives regulatory approval
Opus Bank received the requisite regulatory approvals from the California Department of Financial Institutions and the FDIC for its proposed acquisition of ten banking offices and approximately $143M of related deposits from Pacific Western Bank, a wholly owned subsidiary of PacWest Bancorp. The acquisition is expected to be completed on Friday, September 21, after the close of business. The ten banking offices will reopen as Opus Bank offices on Monday, September 24. Although certain other immaterial assets related to the banking offices will be included, there are no loans included in the transaction. | |
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