Banc of California, Inc. (NYSE: BANC) (“the company”) is a bank holding company operating principally through its wholly-owned subsidiary Banc of California, a CA state-chartered bank, that reflects 80 full service branches primarily located in Southern California as well as Denver, CO and Durham, NC. In addition to its traditional consumer and commercial banking, BANC also operates several national specialty business lines including Fund Finance, Lender and Specialty Finance, SBA lending, Mortgage Warehouse Lending, HOA services, Payments Solutions, Media & Entertainment services, among others.
In 4Q23, BANC completed its transformative merger with PacWest Bancorp (“PACW”), becoming the 3rd largest bank headquartered in California. The transaction included a $400 million equity investment into the combined company from the affiliates of funds managed by Warburg Pincus, LLC (“Warburg”) and certain investment vehicles managed or advised by…
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