Business Context and Reporting Period
This Form 8-K filing by First PacTrust Bancorp, Inc. (d/b/a BANC OF CALIFORNIA, INC.) covers the event date of July 1, 2013. The report details the completion of a strategic acquisition.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the structural completion of an asset acquisition rather than reporting period financial results.
Material Changes
- Acquisition Completed: On July 1, 2013, the Company completed the acquisition of The Private Bank of California.
- Merger Structure: The acquisition was executed by merging The Private Bank of California into Beach Business Bank ("Beach").
- Rebranding: Upon closing, Beach Business Bank was renamed "The Private Bank of California."
- Historical Context: The terms of this merger were originally disclosed in a Form 8-K filed on August 22, 2012.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or specific risk factors related to the transaction. It serves as a notification of the completed event and references a press release (Exhibit 99.1) for further details.
Investor Verification Checklist
- Verify the financial impact of the merger by reviewing the press release attached as Exhibit 99.1.
- Confirm the regulatory approval status and integration timeline for the newly renamed entity.
- Review the original August 22, 2012, Form 8-K to compare initial merger terms with the final closing structure.
- Monitor subsequent filings for the first consolidated financial results post-merger.