PacWest And Banc Of California Agree To All-Stock Merger

In an aerial view, a Pacific Western Bank building is seen on May 4, 2023, in Los Angeles, California. Pacific Western Bank's stock plunged Thursday in the wake of other bank failures. Following an unusual outflow of deposits this week, PacWest Bancorp says it plans to sell a $2.7 billion loan portfolio. (DAVID MCNEW/GETTY IMAGES)

PacWest Bancorp (NASDAQ: PACW) and Banc Of California Inc (NYSE: BANC) entered into a definitive agreement late Tuesday to combine in an all-stock merger transaction. Here’s what the street has to say about the transformational bank merger.

General view of Banc of California in Century City on March 17, 2023, in Century City, California. (AARONP/GETTY IMAGES)