The Bank Slate


BayCom, Pacific Enterprise investors approve merger

Shareholders have approved the pending sale of Pacific Enterprise Bancorp in Irvine, Calif., to of BayCom in Walnut Creek, Calif. 

The votes had some last-minute drama when Shaul Kopelwitz, a big Pacific Enterprise shareholder, disclosed that he would vote against the $53 million deal. He took issue with the discounted pricing of the acquisition. 

The $2.1 billion-asset BayCom agreed in September to buy the $647 million-asset Pacific Enterprise. 

BayCom said it has already received all required regulatory approvals. It expects to complete the acquisition in the first quarter.

Leave a Reply

Your email address will not be published. Required fields are marked *