Denver-based Proprietary Capital, who offers a platform for institutional investors seeking returns from mortgage-related assets, agreed to purchase the New Jersey-based lender as it seeks to increase the number of opportunities it offers.

The real estate investment trust declined to comment on its bid to buy Western Asset Mortgage Capital, a company that received a sweetened competing offer from Terra Property Trust last week.

Negotiations are ongoing, but the legal move ends the restraining order trial in federal court scheduled for Aug. 14.

But its mortgage business remains a money loser, and it wasn't a great period for the acquisition target either.

The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.

The deal is expected to help Stavvy further growth of digital self-service loss-mitigation options for borrowers and their lenders.

AG Mortgage Investment Trust's acquisition proposal was deemed as more superior. Terra Property Trust has until the beginning of August to present something stronger.

The Hicksville, New York, company says its deposit base is stable and poised for growth four months after its acquisition of the failed Signature Bank, some of whose depositors fled to larger banks. Private bankers — including new hires from another failed bank, First Republic — are trying to win back lost deposits.

A successful merger would culminate an over two-year period of major losses and pestered with criticism over the firm's mass layoffs.

Post-merger Banc of California will target "in-market relationship banking" by focusing on treasury management services and loan growth to boost "low-cost" commercial deposits, CEO Jared Wolff said.