Banc of California is making a strategic move by selling approximately $2 billion worth of business-purpose residential mortgage loans, just eight months after the acquisition of PacWest Bancorp. This sale comes as part of a larger reshaping of the bank’s mortgage portfolio, following the rescue deal.

Key elements of the text:
– Banc of California selling $2 billion in business-purpose residential mortgage loans
– Sale follows acquisition of PacWest Bancorp
– Part of a larger restructuring of the bank’s mortgage portfolio
– Indicates strategic decision-making by Banc of California

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