Banc of California Creates Charitable Fund and Commits $1 Million to Support Southern California Communities Affected by Wildfires
The Banc of California Wildfire Relief & Recovery Fund Will Support Southern California With Disaster Relief and Rebuilding Efforts
Advisory Board of Business and Civic Leaders to be Created to Ensure the Funds are Directed in a Way That Will Have the Greatest Impact
This charitable fund will be seeded with a
Through this charitable fund, the bank will address urgent, ongoing disaster relief and recovery needs, as well as longer term rebuilding of communities, homes, businesses and infrastructure impacted by this unprecedented disaster in the
Banc of California will also create an advisory board for the fund, including business and civic leaders, who can help support and lead recovery efforts and ensure the funds are directed in a way that will have the greatest impact. In consultation with this advisory board, Banc of California will also develop lending programs focusing on recovery efforts.
“As the largest independent bank based in
Update on Wildfire Impact to Banc of California
In addition to creating the Banc of California Wildfire Relief & Recovery Fund, the bank is providing updates and taking the following actions to support the
- Many Banc of California team members have been displaced as a result of the wildfires. The bank is supporting those affected with temporary housing, rental cars, stipends and other needs. The bank also offers 24/7 confidential counseling and wellness support.
- Team members are proactively reaching out to clients during this critical time to offer assistance from the bank. If you are a Banc of California client whose financial situation has been adversely affected by the fires, please reach out to your relationship manager or to our client care line at 877-770-BANC (2262) for assistance.
- To date, Banc of California has not experienced any damage to its facilities or properties. As of this time, there are two branches that are temporarily closed due to proximity to evacuation areas. The bank is regularly evaluating conditions and adjusting branch hours as necessary to protect the health and safety of our team members and clients. Please visit the bank’s website for any information about temporary branch closures: Temporary Closures | Banc of California.
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As of this release, we are not aware of any material impact on our loan portfolio or collateral due to the
Southern California wildfires. We are currently aware of four commercial properties and three residential properties that have been damaged or destroyed, but all such collateral has insurance coverage in place. The situation is still evolving, and we continue to monitor it for potential exposure.
Please visit Bancofcal.com/SoCalRelief to learn more and to support the Banc of California Wildfire Relief & Recovery Fund.
About Banc of California, Inc.
Banc of California, Inc. (NYSE: BANC) is a bank holding company with over
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Media Contact
Debora Vrana
EVP, Chief Communications Officer
Banc of California
213-999-4141
Deb.vrana@bancofcal.com
Source: Banc of California, Inc.