Latest Signature Bank News

Banc of California to buy troubled PacWest Bancorp, which came close to failing earlier this year

Jul. 25, 2023 17:18 PM EDT

NEW YORK (AP) — The Banc of California has agreed to buy PacWest Bancorp in an all-stock transaction, bringing an end to months of speculation about whether PacWest could survive on its own after the failures of three other regional banks this spring. The deal announced Tuesday...

JPMorgan second quarter profit jumps 67% with a boost from First Republic takeover

Jul. 14, 2023 10:23 AM EDT

JPMorgan's second-quarter profits rose by 67% as the nation's largest bank made more loans to customers, took advantage of higher interest rates, and got a boost from its recent acquisition of First Republic Bank. The bank earned $14.5 billion in the three months ended June 30,...