M&A Deal Summary

Bank of California Acquires Pacific Mercantile Bank

On March 22, 2021, Bank of California acquired financial services company Pacific Mercantile Bank for 235M USD

Acquisition Highlights
  • This is Bank of California’s 1st transaction in the Financial Services sector.
  • This is Bank of California’s largest (disclosed) transaction.
  • This is Bank of California’s 2nd transaction in the United States.
  • This is Bank of California’s 1st transaction in California.

M&A Deal Summary
Date 2021-03-22
Target Pacific Mercantile Bank
Sector Financial Services
Buyer(s) Bank of California
Deal Type Add-on Acquisition
Deal Value 235M USD
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Sheppard Mullin Richter & Hampton LLP (Legal)

Target

Pacific Mercantile Bank

Costa Mesa, California, United States
website
Pacific Mercantile Bank is a provider of banking products and services for individuals and organizations. Pacific Mercantile Bank was founded in 1999 and is based in Costa Mesa, California.

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Buyer(S) 1

Buyer

Bank of California

Santa Ana, California, United States

website

Category Company
Founded 1941
Sector Financial Services
Employees685
Revenue 332M USD (2022)
DESCRIPTION

Bank of California is a provider of banking services and home loans to businesses and families in California and the Western US. Banc of California provides deposit products, including checking, savings, money market, retirement, and interest and noninterest-bearing demand accounts, as well as certificates of deposit. Banc of California was incorporated in 1941 and is based in Santa Ana, California.

DEAL STATS #
Overall 2 of 4
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (California) 1 of 2
Country (United States) 2 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-27 Banc of California - Commercial Specialty Finance

Irvine, California, United States

Banc of California, Inc. - Commercial Specialty Finance is a provider of financial services for commerical equipment leasing in US.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 Deepstack Technologies

St. Petersburg, Florida, United States

Deepstack Technologies is a differentiated software-led and e-commerce payments platform that provides clients with payment solutions, including merchant processing, payments acceptance and disbursements, tokenization, virtual accounts, fraud protection tools, chargeback management, and reconciliation and reporting services. Deepstack Technologies

Buy $24M
Mergr

Product

Company

Legal