An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Banc of California Hires Matthew Grimes as SVP, ABL Leader
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Banc of California, Inc. (NYSE: BANC) announced the appointment of Matthew Grimes as SVP, ABL Leader, tasked with leading the bank's Asset Based Lending initiatives. Grimes brings over 25 years of experience in direct lending, aiming to enhance Banc of California's capabilities in serving small and medium-sized enterprises across various sectors. This strategic hire is expected to bolster the bank's growth and align with its commitment to client financial success.
Positive
Matthew Grimes appointed as SVP, ABL Leader, enhancing leadership.
Grimes' extensive experience in Asset Based Lending supports growth.
Focus on expanding services for small and medium-sized enterprises.
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 Matthew Grimes in the new position of SVP, ABL Leader. In this position, Grimes will be responsible for leading the bank’s Asset Based Lending efforts. Grimes will report to Hamid Hussain, President, Real Estate and Commercial Banking.
Mr. Hussain commented, “We are excited to have Matthew join Banc of California. Asset-based lending is an important business line for Banc of California. Matthew’s deep experience and leadership will help us expand this segment and further add to the capabilities of Banc of California to help our clients succeed financially.”
“I am very excited to join the Banc of California team and lead the ABL group,” said Grimes. “Senior management is committed to supporting the growth of the ABL platform as we continue to move up market and expand our portfolio. We look forward to serving companies in manufacturing, distribution, business services and retail in the small and medium-sized enterprise segments. I look forward to building on Banc of California’s successful track record of providing expertise, service and solutions, with a first class ABL group that contributes to our clients’ and the bank’s financial success.”
Grimes has over 25 years of direct lending experience in ABL and has held senior level positions at Eclipse Business Capital (formerly known as Encina Business Credit), Ares Management, and First Capital Corporation among others.
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 37 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.
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
What is the significance of Matthew Grimes' appointment at Banc of California?
Matthew Grimes' appointment as SVP, ABL Leader is significant as he brings over 25 years of experience in Asset Based Lending, which is crucial for expanding the bank's capabilities in serving business clients.
How will Matthew Grimes' experience impact Banc of California's ABL strategy?
Grimes' extensive experience is expected to positively impact Banc of California's Asset Based Lending strategy by enhancing its market position and service offerings to small and medium-sized enterprises.
What are the key responsibilities of the new SVP, ABL Leader at Banc of California?
The new SVP, ABL Leader, Matthew Grimes, will lead the bank's Asset Based Lending efforts, focusing on expanding this business line and serving companies in various sectors.
