First California Bank to Merge With Pacific Western Bank


Updated on Thu Nov 8, 2012

PacWest Bancorp, parent of Pacific Western Bank, has entered an agreement to acquire First California Financial Group, parent of First California Bank.

Expected to close in the first quarter of 2013, the deal will create the eighth-largest bank based in California — the new PacWest Bancorp will have total assets of $7.5 billion and 81 branches ($2 billion in assets and 15 branches from First California).

“The combined bank will continue to offer the same dedication and high quality service both institutions are known for, while providing customers with an even greater array of products and higher lending limits,” said C. G. Kum, president and CEO of First California Bank in a prepared statement.

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