Banc of California Hires Education Finance Expert to Bolster Charter School Practice

Rhea-AI Summary

Banc of California, Inc. (NYSE: BANC) announced the hiring of John Helgeson as Senior Director, Specialty Banking, to focus on banking services for charter schools. Helgeson, with over $2 billion in funding experience for charter schools across the U.S., will report to Patti Thompson-Derry. His role aims to enhance Banc of California's offerings in education and non-profit banking, leveraging his 14+ years in charter school finance. This strategic move highlights the bank's commitment to expanding its influence in the educational sector.

Positive

• John Helgeson's extensive experience and proven track record in charter school financing will likely enhance Banc of California's educational banking services.
• The hiring signifies Banc of California's commitment to expanding its market presence and relationships in the education sector.

Negative

• None.

SANTA ANA, Calif.--(BUSINESS WIRE)-- Banc of California, Inc. (NYSE: BANC) today announced that its wholly-owned subsidiary, Banc of California, N.A., California’s leading relationship-focused business bank, has hired John Helgeson in the new position of Senior Director, Specialty Banking to focus on banking and lending to charter schools. In this position, Helgeson will be reporting to Patti Thompson-Derry, Market Executive for Banc of California’s Healthcare, Education and Non-Profit Banking Group.

“We are thrilled to have someone of John’s caliber join Banc of California. John has not only been responsible for providing more than $2 billion of funding and commitments to charter schools across the United States, but is a recognized expert and frequent speaker on charter school finance and cash flow planning. John joins a talented team that continues to build Banc of California’s reputation as the go to bank in Education and Non-Profit banking,” said Jay Sanders, President, Specialty Banking, Deposits and Treasury Management.

“Banc of California has a strong reputation as a relationship-based business bank and has built an excellent platform focusing on education and non-profit clients. I am especially excited to build on this success and expand lending and depository offerings to a broader set of educational institutions,” said Mr. Helgeson.

Helgeson’s experience includes 14+ years focusing on charter school finance leadership, including launching charter school financing programs in 11 States. Helgeson was also a US Olympic Trial Finalist for the US Modern Pentathlon in 1992.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) is a bank holding company with $9.4 billion in assets at December 31, 2021 and one wholly-owned banking subsidiary, Banc of California, N.A. (the Bank). The Bank has 38 offices including 32 full-service branches located throughout Southern California. Through our dedicated professionals, we provide customized and innovative banking and lending solutions to businesses, entrepreneurs and individuals throughout California. We help to improve the communities where we live and work, by supporting organizations that provide financial literacy and job training, small business support and affordable housing. With a commitment to service and to building enduring relationships, we provide a higher standard of banking. We look forward to helping you achieve your goals. For more information, please visit us at www.bancofcal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220131005827/en/

Investor Relations Inquiries:

Banc of California, Inc.

(855) 361-2262

Jared Wolff, (949) 385-8700

Lynn Hopkins, (949) 265-6599

Source: Banc of California, Inc.

FAQ

Who is John Helgeson and what is his role at Banc of California?

John Helgeson is the newly appointed Senior Director of Specialty Banking at Banc of California, focusing on banking for charter schools.

How much funding has John Helgeson provided to charter schools?

John Helgeson has been responsible for providing over $2 billion in funding and commitments to charter schools across the United States.

What impact does John Helgeson's hiring have on Banc of California?

His extensive experience in charter school finance is expected to enhance Banc of California's banking services and its reputation in the education sector.

What is the focus of Banc of California's Specialty Banking division?

The Specialty Banking division focuses on providing banking and lending services to education and non-profit clients.