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Banc of California, Inc. - BANC STOCK NEWS

Welcome to our dedicated page for Banc of California news (Ticker: BANC), a resource for investors and traders seeking the latest updates and insights on Banc of California stock.

Banc of California, Inc. (symbol: BANC) is a reputable financial holding company that has been providing comprehensive banking services since 1941. With assets exceeding $7 billion and over 100 banking and lending locations, Banc of California is strategically positioned to serve private businesses, entrepreneurs, and homeowners across California. The company offers a wide range of financial services including banking, lending, and private banking. Their deposit products include checking, savings, money market accounts, certificates of deposit, and retirement accounts.

Banc of California focuses on simplifying banking through innovative products and exceptional customer service, aiming to make banking straightforward for its clients. The company’s strong balance sheet, deep community involvement, and commitment to building lasting relationships have contributed to its long record of success. Banc of California's lending activities are predominantly geared towards providing financing to California's diverse business landscape, including both commercial and residential real estate.

Recent achievements highlight Banc of California's commitment to growth and community engagement. The company continues to adapt its services to meet the evolving needs of its clients, emphasizing efficiency, fairness, and simplicity in all its financial solutions. Their dedication to these principles ensures that clients can focus on their personal and professional growth while Banc of California handles their financial needs.

News

Banc of California, Inc. Reports Fourth Quarter 2023 Financial Results Following Completion of Transformational Merger with PacWest Bancorp

Rhea-AI Summary
Banc of California, Inc. reported financial results for Q4 and year-end 2023 after merging with PacWest Bancorp, increasing total assets to $38.5 billion. The company's strong capital ratios and high liquidity levels position it as California's premier business bank.
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Banc of California Announces Schedule of Fourth Quarter 2023 Earnings Release and Conference Call

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Banc of California, Inc. (NYSE: BANC) to release Q4 and fiscal year 2023 financial results on January 25, 2024. Conference call scheduled for 10:00 a.m. PT on the same day. Interested parties can attend by dialing (888) 317-6003 and referencing event code 4864870. Live webcast and slide presentation available on the investor relations website.
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KBRA Affirms Ratings for Banc of California, Inc. and Withdraws Ratings for PacWest Bancorp

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KBRA affirms ratings for Banc of California, Inc. (NYSE: BANC) and Pacific Western Bank, now operating as Banc of California, following their merger. The merger, including a $400 million equity raise, is seen as strategically favorable, with the company's leadership team largely retained. The combined entity is expected to improve its funding profile and capital ratios, positively impacting bondholders.
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Banc of California Designates Los Angeles as Headquarters and Donates $1 Million to Expand Financing Options for Small Businesses

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Banc of California, Inc. (NYSE: BANC) relocates its headquarters to Los Angeles and donates $1 million to support small businesses. The company's CEO, Jared Wolff, announces the move and the contribution at a joint press conference with Los Angeles Mayor Karen Bass. The relocation follows a successful merger with PacWest Bancorp, making Banc of California the third-largest bank headquartered in California.
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Press Conference with Los Angeles Mayor Karen Bass and Banc of California on Dec. 5

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Banc of California (BANC) to make a major donation and significant business decision following its successful merger with PacWest Bancorp, becoming the third-largest bank in California and a leading relationship-focused business bank.
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Banc of California Announces Completion of Transformational Merger with PacWest Bancorp and $400 Million Equity Raise

Rhea-AI Summary
Banc of California, Inc. (NYSE: BANC) completes a transformational merger with PacWest Bancorp (Nasdaq: PACW) to emerge as the third-largest bank headquartered in California and one of the nation’s premier relationship-focused business banks. The combined bank will operate under the Banc of California name and brand. Banc of California also completed a $400 million equity raise from affiliates of funds managed by Warburg Pincus LLC and certain investment vehicles sponsored, managed or advised by Centerbridge Partners, L.P. and its affiliates.
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Banc of California Announces Quarterly Dividend

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Banc of California, Inc. (NYSE: BANC) declares $0.10 per share quarterly cash dividend, payable on January 2, 2024, with a 3% discount through its Dividend Reinvestment Plan (DRIP).
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Banc of California Announces Appointments of Four Directors to its Board of Directors in Connection with its Merger with PacWest Bancorp

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Banc of California announces appointments to the board of directors and retirement of current directors. Merger with PacWest expected to close on November 30, 2023.
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Banc of California Reports Net Income of $42.6 million, with Stable Deposit Mix and Improved Net Interest Margin in Third Quarter 2023 Financial Results

Rhea-AI Summary
Banc of California reports net income of $42.6 million for Q3 2023, up 138% from Q2. The bank strategically positioned its balance sheet ahead of the merger with PacWest, resulting in a gain from derivative instruments. The merger is expected to close on November 30, 2023.
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Banc of California Receives Final Regulatory Approval for its Merger with PacWest Bancorp

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Banc of California and PacWest receive regulatory approval for merger
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FAQ

What is the current stock price of Banc of California (BANC)?

The current stock price of Banc of California (BANC) is $15.42 as of December 20, 2024.

What is the market cap of Banc of California (BANC)?

The market cap of Banc of California (BANC) is approximately 2.6B.

What services does Banc of California, Inc. offer?

Banc of California provides banking, lending, and private banking services, including checking, savings, money market accounts, certificates of deposit, and retirement accounts.

Who are the primary clients of Banc of California?

The primary clients are private businesses, entrepreneurs, and homeowners throughout California.

What is the asset size of Banc of California?

Banc of California has assets exceeding $7 billion.

How many locations does Banc of California operate?

Banc of California operates over 100 banking and lending locations.

What type of loans does Banc of California provide?

Banc of California provides loans secured by California commercial and residential real estate.

When was Banc of California founded?

Banc of California was founded in 1941.

What is Banc of California's approach to banking?

Banc of California aims to offer simple, fair, and innovative banking products designed to eliminate everyday complexity and save clients time.

What is the primary goal of Banc of California?

The primary goal is to build a top full-service bank that serves California's diverse private businesses, entrepreneurs, and homeowners.

Does Banc of California focus on community involvement?

Yes, Banc of California has deep community roots and is committed to benefiting the communities where its clients live and work.

What is the financial condition of Banc of California?

Banc of California maintains a strong balance sheet and a long record of success, indicating robust financial health.

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Banc of California, Inc.

NYSE:BANC

BANC Rankings

#1756 Ranked by Market Cap
#1207 Ranked by Dividends

BANC Stock Data

2.61B
133.12M
1.17%
98.64%
4.83%
Banks - Regional
National Commercial Banks
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