JPMorgan to buy almost $2 bln of mortgages in the PacWest deal - Bloomberg News

PacWest Bancorp

26/07/2023 19:11

July 26 (Reuters) - JPMorgan Chase & Co  JPM.N  will buy
almost $2 billion worth of mortgages to facilitate Banc of
California's  BANC.N  purchase of PacWest Bancorp  PACW.O ,
Bloomberg News reported on Wednesday. 
    Banc of California and PacWest Bancorp on Tuesday announced
an all-stock merger with a $400 million equity raise from
Warburg Pincus and Centerbridge Partners to create a bank with
$36 billion in assets. 

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Arun Koyyur)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))