Pacific Mercantile Bancorp

-0.17 (-1.75%)
Equity Investments, Other Pre-Announcement, Mergers / Acquisitions

Banc Of California To Buy Pacific Mercantile Bancorp

Published: 03/22/2021 21:36 GMT
Pacific Mercantile Bancorp (PMBC) - Banc of California, Inc. to Acquire Pacific Mercantile Bancorp, Creating a $9.5 Billion Business Banking Franchise in Southern California.
Banc of California Inc - All-stock Transaction Valued at Approximately $235 Million, Or $9.77 per Share.
Banc of California Inc - Banc of California Expects Transaction to Be 12.9% Accretive to EPS in 2022.
Banc of California - Holders of Pacific Mercantile Common Stock Will Receive 0.5 Shares of Banc of California Common Stock for Each Share of They Own.
Banc of California Inc - Existing Banc of California Stockholders Will Own Approximately 81% of Outstanding Shares of Combined Co.