Federal Reserve Board announces approval of proposal by PacWest Bancorp

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Federal Reserve Board announces approval of proposal by PacWest Bancorp

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The following press release was published by the Board of Governors of the Federal Reserve System on Sept. 21, 2015. It is reproduced in full below.

The Federal Reserve Board on Monday announced its approval of a proposal by PacWest Bancorp, Los Angeles, California, to merge with Square 1 Financial, Inc., and thereby indirectly acquire its wholly owned subsidiary, Square 1 Bank, and the nonbank subsidiaries of Square 1 Financial, all of Durham, North Carolina, pursuant to sections 3 and 4 of the Bank Holding Company Act.

Attached is the Board's order relating to this action.

For media inquiries, call 202-452-2955.

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Source: Board of Governors of the Federal Reserve System

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