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Banc of California acquires Pacific Western Bank to recover assets and deposits post SVB fallout

Nov 14, 2024•about 1 year ago

Acquiring Company

Banc of California

Acquired Company

Banc of California

Santa AnaSanta Ana

Description

In November 2023, Banc of California acquired Pacific Western Bank to address the decline in its assets and deposits following the fallout of Silicon Valley Bank. The acquisition aimed to bolster Banc of California's position in the market and capitalize on opportunities in the fintech and startup sectors.

Company Information

Company

Banc of California

Location

Santa Ana, California, United States

About

Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small, middle-market and venture-backed businesses. The bank offers a broad range of loan and deposit products and services through more than 90 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed