PacWest Bancorp's pending purchase of CapitalSource has been pushed back as the deal awaits approval from the Federal Reserve Board.

PacWest (PACW) and CapitalSource (CSE), both based in Los Angeles, said in a press release Tuesday that the Fed is the last regulator it needs to bless their merger. The companies said they now expect to miss their previously announced April 1 closing date because of the delay.

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