PacWest Bancorp To Merge With CapitalSource In $2.3B Deal

Law360, Los Angeles (July 22, 2013, 9:03 PM EDT) -- PacWest Bancorp and CapitalSource Inc. have signed a definitive agreement and plan for merger in a transaction valued at approximately $2.3 billion, the companies jointly announced Monday.

The combined company will be called PacWest Bancorp and the combined subsidiary bank will be called Pacific Western Bank. The CapitalSource national lending operation will continue to do business under the name CapitalSource as a division of Pacific Western Bank, according to the announcement.

Matt Wagner, CEO of PacWest Bancorp, said the transaction represents the combination of two outstanding...
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