美国

美国证券交易委员会

华盛顿特区，20549

表格8-K

当前报告

根据《1934年证券交易法》第13或15(D)节

报告日期(最早报告事件日期)： 2023年7月31日(2023年7月25日)

PacWest Bancorp

(注册人的确切姓名在其章程中规定)

威尔希尔大道9701号，700号套房。
加州贝弗利山庄，邮编：90212

(主要执行机构地址) (邮政编码)

注册人电话号码，包括区号：(310)887-8500

不适用

(如果自上次报告以来更改了以前的姓名或地址 。)

如果8-K备案表格 旨在同时满足注册人根据下列任何一项规定的备案义务(参见 一般说明A.2)，请勾选下面相应的框。如下所示)：

根据该法第12(B)款登记的证券：

用复选标记表示注册人是否为1933年《证券法》第405条(本章230.405节)或1934年《证券交易法》第12b-2条(本章第240.12b-2节)所界定的新兴成长型公司。

新兴增长型 公司¨

如果是新兴成长型公司，请用复选标记表示注册人是否已选择不使用延长的过渡期，以遵守根据《交易所法案》第13(A)节提供的任何新的或修订的财务会计准则。¨

第1.01项。签订材料最终协议

合并协议

2023年7月25日，特拉华州的PacWest Bancorp、马里兰的加州银行和特拉华州的全资子公司Cal Merge签订了合并协议和合并计划(合并协议)。根据合并协议所载的条款及条件，Merge Sub将与 合并并并入PacWest，PacWest将继续作为尚存实体(“合并”) ，PacWest将紧随合并后与加州银行合并(“第二步合并”)，而加州银行将继续作为尚存的公司(“尚存的 公司”)。在第二步合并后，太平洋西部银行，一家加州特许的非成员银行 (“太平洋西部银行”)，以及在紧接第二步合并之前，太平洋西部银行的全资子公司，将成为联邦储备系统的成员银行(“FRS 成员资格”)和加州银行的全资子公司。在FRS 成员资格生效后，加州银行(BOC NA)的全资子公司、全国性银行协会北卡罗来纳州加州银行将与太平洋西部银行合并，并入太平洋西部银行(“银行合并”，与合并和第二步合并一起， 合并)，太平洋西部银行继续作为尚存的 银行(“幸存银行”)。银行合并后，幸存的银行将以“加州银行”的名称和品牌运营。

合并协议获得太平洋银行和加州银行董事会的一致通过。在收到必要的监管和股东批准以及满足或豁免其他成交条件(其中某些条件如下所述)后，双方 预计合并和随之而来的投资(定义如下)将于2023年底或2024年初完成。

合并注意事项

根据合并协议所载条款及条件，于合并生效时(“生效时间”)，除某些例外情况外，太平洋西部银行在紧接生效时间前发行及发行的普通股(“太平洋西部普通股”)每股面值$0.01的普通股(以下简称“太平洋西部普通股”)将转换为收取加州银行普通股(“加州银行普通股”)每股面值$0.01的0.6569普通股(“交易所 比率”)的权利。“合并考虑”)。PacWest普通股的持有者还将有权获得现金，以代替加州银行普通股的零碎股份。此外，于第二步合并生效时，PacWest每股7.75%的固定利率重置非累积永久优先股A系列，每股面值0.01美元的股份(“PacWest 优先股”)将被转换为有权获得加州银行新设立的一系列优先股中的一股，该等权力、优先及权利以及该等资格、限制及限制整体而言，并不会对PacWest优先股(“新银行优先股”)持有人造成重大不利影响。

某些管治事宜

合并协议规定，尚存公司的董事会将由12名董事组成，其中(A)至少有3名董事将是太平洋西部在紧接生效时间之前的 董事会(“太平洋西部董事会”)的成员，他们将遵守某些资格要求，(B)其中8人将是紧接生效时间之前的加州银行董事会成员(“加州董事银行”)，以及(C)其中1人将是华平投资者指定的个人(定义如下)。 此外，视收到任何政府实体的任何必要同意或不反对意见，在紧接生效时间之前的太平洋西部银行董事会的主要董事将成为尚存的 公司的董事会主席。如果太平洋银行董事继续满足某些资格要求，则加州银行同意提名此类太平洋西部银行董事在合并结束(“合并结束”)后召开的前两次年度股东大会上连任尚存公司的董事会成员。

合并协议亦规定，自生效日期起，(A)尚存银行(“尚存银行董事会”)的董事会将由与尚存公司董事会相同的 名董事组成，及(B)如获得任何政府实体的任何必要同意或 不反对意见，则尚存银行董事会主席将由在紧接生效时间前担任银行主席的同一人担任。

合并协议还规定，截至生效时间，(A)加州银行首席执行官将担任尚存公司的首席执行官，(B)尚存公司总部和尚存银行将设在加利福尼亚州洛杉矶市，(C)尚存公司的名称将保持为“Bank of California，Inc.”。以及(D)幸存银行的名称将变为“加州银行”。

太平洋西部股权奖的待遇

合并协议规定，于生效时间，根据经修订及重新修订的PacWest Bancorp 2017股票激励计划(“PacWest股票计划”)授予的每一项限制性股票奖励将转换为接受合并对价的权利，但须受紧接生效时间前适用于该等奖励的相同条款及条件(包括与归属条件有关)所规限，惟该等授予PacWest董事会非雇员成员的奖励 将于生效时间归属。

根据PacWest股票计划授予的每个基于业绩的受限股票单位奖励(“PacWest PSU奖励”)将在生效时间转换为加州银行基于时间的受限股票单位奖励(“BANC RSU奖励”)，受紧接生效时间之前适用于此类奖励的相同条款和条件的约束，包括关于归属条件(不包括基于绩效的归属条件)。须接受每个BANC RSU奖的加州银行普通股数量将等于以下乘积：(I)在紧接生效时间之前获得PacWest PSU奖的股票数量(基于截至生效时间之前的最后实际可行日期衡量的实际业绩)乘以(Ii)换股比率。

对加州银行股票奖的处理

合并协议规定，在生效时间 ，根据加州银行2018年综合股票激励计划和加州银行2013综合股票激励计划授予的每个限制性股票单位奖励和每个股票期权，在紧接生效时间之前未偿还的 应被视为根据适用的加州银行股票计划进行了更换，并应保持 未偿还状态，受紧接生效时间之前适用于此类奖励的相同条款和条件的限制，包括在归属条件方面；条件是，根据加州银行股票计划授予加州银行董事会非雇员 成员的任何限制性股票单位奖励将被授予，并将在合并完成后五个工作日内结算。合并协议 进一步规定，于生效时间内，每项以业绩为基础的限制性股票单位奖励将于合并完成后五个营业日内授予及结算，业绩被视为已达到目标业绩水平(但其股价目标将根据适用的奖励协议确定业绩或将被取代的奖励除外， 由加州银行董事会薪酬、提名和公司治理委员会在提交S-4表格注册声明之前确定)。

合并协议的某些其他条款和条件

合并协议包含PacWest和加州银行各自的某些惯例陈述和担保。此外，PacWest和加州银行都同意某些惯例的成交前契约，包括在正常过程中在所有实质性方面经营业务的契约，以及在未经另一方同意的情况下不采取某些行动的契约。各方已同意其他公约，其中包括：(A)在太平洋银行的情况下，其有义务召开股东会议通过合并协议，以及除某些例外情况外，太平洋西部银行董事会有义务建议其股东通过合并协议，(B)在加州银行的情况下，根据合并协议和投资协议(定义见下文)召开股东会议批准发行加州银行普通股的义务，以及除某些例外情况外，加州银行董事会有义务建议其 股东批准股票发行，以及(C)与替代收购建议有关的相互非募集义务 。此外，双方已同意与另一方进行合理合作，以确定将在合并完成后 处置的某些资产池，并就该等资产处置采取某些其他行动( “资产负债表重新定位”)。

合并的完成取决于 某些成交条件的满足或放弃，包括(A)由PacWest股东必要的投票通过合并协议，并由加州银行股东必要的投票批准股票发行， (B)授权加州银行普通股在纽约证券交易所上市 股票发行和New Banc优先股，以正式发行通知为准，(C)收到联邦储备系统理事会和加州金融保护和创新部所需的监管批准，(D)没有任何政府实体强加，也没有必要的监管批准， 包含重大负担的监管条件(如合并协议中所定义)，(E)加州银行将提交给美国证券交易委员会(“美国证券交易委员会”)的S-4表格注册声明的有效性， 加州银行就合并协议预期的交易提交的注册声明的有效性，(F)在没有任何命令、强制令、法令或其他法律约束阻止完成合并协议所拟进行的交易的情况下，或 任何规定完成交易为非法的法律的情况下，及(G)投资结束的情况下，投资基本上与合并完成同时进行。各方完成合并的义务还受制于某些附加条件，包括：(I)在某些重大门槛的约束下，对于PacWest，在加州银行和Merge Sub的情况下，陈述的准确性和 担保；在PacWest的情况下，包括没有重大不利影响(如合并协议中所定义的)；(Ii)PacWest在所有重要方面的表现，在PacWest的情况下，以及在PacWest的情况下，履行其在合并协议下的各自义务，以及(Iii)该当事方收到其律师的意见，大意是合并和第二步合并合在一起，将符合经修订的1986年国内税法第368(A)节的含义 。

合并协议为PacWest和加州银行都提供了一定的终止权利。合并协议还规定，在某些情况下，当合并协议终止时，太平洋银行或加州银行将 支付3950万美元的终止费。此外，在合并协议终止后，任何一方可能被要求向另一方偿还与资产负债表重新定位相关的部分或全部费用。

投票协议

在签订合并协议的同时，PacWest与加州银行董事会的每一位成员签订了投票协议(“投票协议”)。投票协议除其他事项外，要求董事(仅以股东身份)(A)投票表决他们所拥有的加州银行普通股的所有股份：(I)赞成股票发行，(Ii)反对可能阻止或实质性推迟合并的替代交易或其他提议， (B)在某些情况下就其股票授予相应的代理权，以及(C)不得直接或 间接转让、出售、转让或以其他方式处置其所持加州银行普通股股份，受某些 例外的约束。太平洋西部银行董事会成员与加州银行订立了投票协议(仅以该等董事作为股东的身份)，其中包括与投票协议类似的契诺。

本文档涉及PacWest与加州银行之间的拟议交易，以及投资者对加州银行的拟议投资。加州银行打算以S-4表格向美国证券交易委员会提交一份注册声明，其中将包括一份初步联合委托书 声明/招股说明书，将分发给加州银行普通股和太平洋西部银行普通股的持有人， 加州银行和太平洋西部银行征求委托书，供加州银行股东和太平洋西部银行股东就拟议的交易进行投票。登记声明提交并宣布生效后，加州银行和太平洋西部银行将向各自的股东发送最终的联合委托书/招股说明书，截至适用的记录日期，该股东有权就加州银行股东会议和太平洋西部银行股东会议正在审议的事项进行投票。加州银行或太平洋银行也可能向美国证券交易委员会提交有关拟议交易的其他文件。

在作出任何投票或投资决定之前，敦促投资者和证券持有人仔细阅读完整的注册声明和联合委托书/招股说明书 (包括其所有修订和补充)、提交给美国证券交易委员会的任何其他相关文件、及其最终版本(当其可用时)以及对此类文件的任何修订或补充，并仔细阅读 完整，因为它们将包含有关拟议交易的重要信息。

投资者和证券持有人将能够通过美国证券交易委员会维护的网站免费获取注册声明、联合委托书/招股说明书以及由美国证券交易委员会提交或将提交给美国证券交易委员会的所有其他相关文件。

太平洋银行或加州银行向美国证券交易委员会提交的文件也可以在太平洋银行或加州银行的网站上免费获取，网址为： www.pacwestbancorp.com，标题分别为“美国证券交易委员会备案”或https://investors.bancofcal.com，，标题为 “财务和备案”，或者应 书面请求，请注意：投资者关系部，地址：9701Wilshire Boulevard，Suite7700，Beverly Hills，CA 90212，or Banc of California，注意：投资者关系部，分别是3 MacArthur Place，Santa Ana，CA 92707。

征集活动的参与者

根据美国证券交易委员会规则，太平洋银行和加州银行及其各自的董事和高管可能被视为参与向太平洋银行的股东或加州银行股东征集与拟议交易相关的委托书。太平洋银行的股东、加州银行股东和其他感兴趣的人将能够在不收费的情况下获得有关太平洋银行和加州银行董事和高管的名称、从属关系和利益的更详细信息，该声明将以S-4表格的形式提交，以及太平洋西部银行或加州银行或不时提交给美国证券交易委员会的其他文件。有关根据美国证券交易委员会规则可能被视为太平洋银行或加州银行股东就拟议交易进行的委托书征集的参与者的其他信息，以及对他们通过证券 持股或以其他方式获得的直接和间接利益的描述，将包括在初步联合委托书声明/招股说明书中，并将包含在将提交给美国证券交易委员会的关于拟议交易的其他相关 材料中(如果可以获得)。您可以在美国证券交易委员会的网站www.sec.gov上免费获得这些文件的副本。太平洋银行或加州银行提交给美国证券交易委员会的文件副本也将通过上述联系信息从太平洋银行或加州银行免费获得。

签名

   根据1934年《证券交易法》的要求，注册人已正式授权下列签署人代表其签署本报告。

* Pursuant to Item 601(a)(5) of Regulation S-K, certain schedules and similar attachments have been omitted. The registrant hereby agrees to furnish a copy of any omitted schedule or similar attachment to the SEC upon request.

FORWARD-LOOKING STATEMENTS

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between PacWest and Banc of California and the proposed investment by the Investors in equity securities of Banc of California pursuant to the Investment Agreements. Forward-looking statements may be identified by the use of the words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “could,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include, but are not limited to, statements regarding the proposed transaction between PacWest and Banc of California and the proposed investment by the Investors, including statements as to the expected timing, completion and effects of the proposed transaction. These statements are based on various assumptions, whether or not identified in this document, and on the current expectations of PacWest’s and Banc of California’s management and are not predictions of actual performance, and, as a result, are subject to risks and uncertainties. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict, may differ from assumptions and many are beyond the control of PacWest and Banc of California. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all; (ii) the failure to satisfy the conditions to the consummation of the proposed transaction, including obtaining the requisite approval of PacWest stockholders and Banc of California stockholders within the time period provided in the Merger Agreement; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement or the Investment Agreements; (iv) the inability to obtain alternative capital in the event it becomes necessary to complete the proposed transaction; (v) the effect of the announcement or pendency of the proposed transaction on PacWest’s and Banc of California’s business relationships, operating results and business generally; (vi) risks that the proposed transaction disrupts current plans and operations of PacWest and Banc of California; (vii) potential difficulties in retaining PacWest and Banc of California customers and employees as a result of the proposed transaction; (viii) PacWest’s and Banc of California’s estimates of its financial performance; (ix) changes in general economic conditions; (x) changes in the interest rate environment, including the recent increases in the Board of Governors of the Federal Reserve System benchmark rate and duration at which such increased interest rate levels are maintained, which could adversely affect PacWest’s and Banc of California’s revenue and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; (xi) the impacts of continuing inflation; (xii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of PacWest’s and Banc of California’s underwriting practices and the risk of fraud; (xiii) fluctuations in the demand for loans; (xiv) the ability to develop and maintain a strong core deposit base or other low cost funding sources necessary to fund PacWest’s and Banc of California’s activities particularly in a rising or high interest rate environment; (xv) the rapid withdrawal of a significant amount of deposits over a short period of time; (xvi) results of examinations by regulatory authorities of PacWest or Banc of California and the possibility that any such regulatory authority may, among other things, limit PacWest’s or Banc of California’s business activities, restrict PacWest’s or Banc of California’s ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase PacWest’s or Banc of California’s allowance for credit losses, result in write-downs of asset values, restrict PacWest’s or Banc of California’s ability or that of PacWest’s or Banc of California’s bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xvii) the impact of bank failures or other adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; (xviii) changes in the markets in which PacWest or Banc of California compete, including with respect to the competitive landscape, technology evolution or regulatory changes; (xix) changes in consumer spending, borrowing and saving habits; (xx) slowdowns in securities trading or shifting demand for security trading products; (xxi) the impact of natural disasters or health epidemics; (xxii) legislative or regulatory changes; (xxiii) impact of operating in a highly competitive industry; (xxiv) reliance on third party service providers; (xxv) competition in retaining key employees; (xxvi) risks related to data security and privacy, including the impact of any data security breaches, cyberattacks, employee or other internal misconduct, malware, phishing or ransomware, physical security breaches, natural disasters, or similar disruptions; (xxvii) changes to accounting principles and guidelines; (xxviii) potential litigation relating to the proposed transaction that could be instituted against PacWest or Banc of California, or their respective directors and officers, including the effects of any outcomes related thereto; (xxix) volatility in the trading price of PacWest’s or Banc of California’s securities; (xxx) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities; and (xxxi) unexpected costs, charges or expenses resulting from the proposed transaction. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Banc of California’s registration statement on Form S-4 that will contain a joint proxy statement/prospectus discussed below, when it becomes available, and other documents filed by PacWest or Bank of California from time to time with the SEC. These filings do and will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual events and results could differ materially from those contained in the forward-looking statements. There may be additional risks that neither PacWest nor Banc of California presently knows or that PacWest or Banc of California currently believes are immaterial that could also cause actual events and results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect PacWest’s and Banc of California’s expectations, plans or forecasts of future events and views as of the date of this document. PacWest and Banc of California anticipate that subsequent events and developments will cause PacWest’s and Banc of California’s assessments to change. While PacWest and Banc of California may elect to update these forward-looking statements at some point in the future, PacWest and Banc of California specifically disclaim any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing PacWest’s and Banc of California’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. Forward-looking statements speak only as of the date they are made. Neither PacWest nor Banc of California gives any assurance that either PacWest or Banc of California, or the combined company, will achieve the results or other matters set forth in the forward-looking statements.

NO OFFER OR SOLICITATION

This document is not a proxy statement or solicitation or a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Banc of California, PacWest or the combined company, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, and otherwise in accordance with applicable law.

IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT

This document relates to the proposed transaction between PacWest and Banc of California and the proposed investment in Banc of California by the Investors. Banc of California intends to file a registration statement on Form S-4 with the SEC, which will include a preliminary joint proxy statement/prospectus to be distributed to holders of Banc of California’s common stock and PacWest’s common stock in connection with Banc of California’s and PacWest’s solicitation of proxies for the vote by Banc of California’s stockholders and PacWest’s stockholders with respect to the proposed transaction. After the registration statement has been filed and declared effective, Banc of California and PacWest will mail a definitive joint proxy statement/prospectus to their respective stockholders that, as of the applicable record date, are entitled to vote on the matters being considered at the Banc of California stockholder meeting and at the PacWest stockholder meeting, as applicable. Banc of California or PacWest may also file other documents with the SEC regarding the proposed transaction.

Before making any voting or investment decision, investors and security holders are urged to carefully read the entire registration statement and joint proxy statement/prospectus (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) when they become available, and any other relevant documents filed with the SEC, And the definitive versions thereof (when they become available), as well as any amendments or supplements to SUCH documents, CAREFULLY AND IN THEIR ENTIRETY because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the registration statement, the joint proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Banc or PacWest through the website maintained by the SEC at www.sec.gov.

The documents filed by PacWest or Banc of California with the SEC also may be obtained free of charge at PacWest’s or Banc of California’s website at www.pacwestbancorp.com, under the heading “SEC Filings” or https://investors.bancofcal.com, under the heading “Financials and Filings”, respectively, or upon written request to PacWest, Attention: Investor Relations, 9701 Wilshire Boulevard, Suite 700, Beverly Hills, CA 90212 or Banc of California, Attention: Investor Relations, 3 MacArthur Place, Santa Ana, CA 92707, respectively.

PARTICIPANTS IN THE SOLICITATION

PacWest and Banc of California and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from PacWest’s stockholders or Banc of California’s stockholders in connection with the proposed transaction under the rules of the SEC. PacWest’s stockholders, Banc of California’s stockholders, and other interested persons will be able to obtain, without charge, more detailed information regarding the names, affiliations and interests of directors and executive officers of PacWest and Banc of California in Banc of California’s registration statement on Form S-4 that will be filed, as well other documents filed by PacWest or Banc of California or from time to time with the SEC. Other information regarding persons who may, under the rules of the SEC, be deemed the participants in the proxy solicitation of PacWest’s or Banc of California’s stockholders in connection with the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the preliminary joint proxy statement/prospectus and will be contained in other relevant materials to be filed with the SEC regarding the proposed transaction (if and when they become available). You may obtain free copies of these documents at the SEC’s website at www.sec.gov. Copies of documents filed with the SEC by PacWest or Banc of California will also be available free of charge from PacWest or Banc of California using the contact information above.

SIGNATURES

   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.