PacWest to acquire homeowners association services division from MUFG Union Bank for $250m.

PacWest, a bank holding company, agreed to acquire homeowners association services division from MUFG Union Bank, a full-service commercial bank, for $250m. “We are very pleased to announce this acquisition, which we believe will significantly enhance our position catering to the specialized banking needs of community management companies and the HOA clients they serve. This HOA business, under the continuing leadership of Kimberly Siebler and her team, will provide Pacific Western Bank with what we believe is a robust HOA banking services technology platform and an experienced and accomplished team in an important niche market segment," Matt Wagner, PacWest President and CEO.