Capital

Ashton Ryan, who had been removed as CEO in December, had been serving as its president. The New Orleans company also agreed to sell preferred stock to directors to help it make payments tied to its subordinated debt.

The deal, which is expected to close in the fourth quarter, should significantly increase PacWest's operations in Southern California.

The Houston company was formed in 2009 to buy struggling banks in the wake of the financial crisis.

The California company will lease space on three floors of the building, while keeping a branch at the location.

Mid Penn agreed to pay $59 million for Scottdale Bank in a deal that is expected to close in the third quarter.

First Bank, based in New Jersey, will pay about $27 million for Bucks County Bank in a deal that is expected to close in the third quarter.

Bankers, directors and other large investors are unloading millions of shares as bank stocks stay close to all-time highs.

Citizens will pay about $40 million in cash and stock for the $269 million-asset Wells in a deal set to close in the third quarter.

The Fed said it will conduct extensive reviews only of deals that create banks with assets of $100 billion, replacing the prior mark of $25 billion. The disclosure was included in the Fed's approval of People's United's purchase of Suffolk Bancorp.

The cuts punctuate the end to a rapid expansion period at the company, which now seems to be prioritizing profitability over growth.