Banc of California struck a deal to buy PacWest for just over $1 billion in stock, a move by the regional banks to huddle together after their stocks were battered in the wake of the collapses of Silicon Valley Bank and First Republic Bank. The combined bank will have about $36 billion in assets. PacWest said in May that it was exploring a potential sale amid the selloff, and it recently...
Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.


Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.

Recent Popular Stories
Exclusive
google
semiconductors
To Reduce AI Costs, Google Wants to Ditch Broadcom as Its TPU Server Chip Supplier