Banc of California signed a definitive merger agreement with PacWest Bancorp. The combined holding company and bank will operate under the Banc of California name and brand following closing of the transaction.
Global real estate investment company Kennedy Wilson closed on the initial tranche of loans as part of a $5.7 billion loan portfolio acquisition from Pacific Western Bank.
Harbor Group International provided a $90 million senior mezzanine loan to Extell Development Company to finance the construction of a 30-story, 420,000 rentable square foot office building in Manhattan’s Upper East Side.
PacWest and Pacific Western Bank appointed Paul W. Taylor president of both the company and the bank, effective July 1. Taylor currently serves as a director of the company and the bank and is a member of each of their respective asset/liability management and risk committees.
Scott Frederick joined Pacific Western Bank as a senior vice president and business development officer on its asset-based lending team. He will be located in Oak Park, IL.
Pacific Western Bank provided a $25 million debt facility to existing client, Truvian Sciences, a healthcare company paving the way in the blood testing industry with its automated diagnostic system that provides lab-accurate results at point-of care.
Pacific Western Bank hired Steven Schwimmer to serve in the newly created position of executive vice president and chief innovation officer. In this role, Schwimmer will be responsible for Pacific Western Bank’s systems and applications environment, as well as various bank operations groups.
Kate Farms secured a $30 million senior credit facility with Pacific Western Bank to help fuel growth and expansion.
Prelim, a fintech provider that optimizes digital banking experiences for financial institutions, has expanded its capabilities to assist more banks assist more small businesses.
Janice Ibey joined Pacific Western Bank’s asset-based lending team as a senior vice president and business development officer. She joined Pacific Western Bank after spending the past four years working with Crestmark as vice president of business development in Southern California.