Banc of California to Acquire Pacific Mercantile Bancorp
March 22, 2021
Banc of California, Inc. agreed to acquire Pacific Mercantile Bancorp in an all-stock merger valued at approximately $235 million. Pacific Mercantile’s shareholders are expected to receive 0.5 shares of Banc of California common stock per share, with the deal slated to close in the third quarter of 2021 subject to regulatory and shareholder approvals.
- Buyers
- Banc of California, Inc.
- Targets
- Pacific Mercantile Bancorp
- Industry
- Financial Services
- Location
- California, United States
- Transaction Type
- Buyout
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