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PacWest buying Square 1 Financial in $849M deal

Mar. 02, 2015 8:21 AM ETSquare 1 Financial, Inc. (SQBK) StockBy: Stephen Alpher, SA News Editor
  • Square 1 (NASDAQ:SQBK) will receive 0.5997 shares of PacWest (PACW) common stock for each share of Square 1 they own - total consideration of $27.49 based on the most recent price.
  • Square 1 in HQ'd in Durham, NC and has about $3.1B in assets, and L.A.-based PacWest has $16.2B in assets. Combined, the two will have nearly $20B in assets, 80 branches in CA, and one in NC.
  • The deal is expected to close in Q4.
  • Source: Press Release

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