Profile: Banc of California Inc (BANC.N)

BANC.N on New York Stock Exchange

22 Jul 2019
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Banc of California, Inc., incorporated on March 25, 2002, is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties. The Bank offers automated bill payment, cash and treasury management, master demand accounts, foreign exchange, interest rate swaps, trust services, card payment services, remote and mobile deposit capture, automatic clearing house (ACH) origination, wire transfer, direct deposit, and safe deposit boxes. Bank customers also have the ability to access their accounts through a nationwide network of automated teller machines (ATMs), online, telephone and mobile banking.

The Commercial Banking segment includes nine business units: Retail Banking, Commercial Banking, Private Banking, Financial Institutions Banking, Residential Portfolio Lending, Commercial Real Estate and Multifamily Lending, Construction and Rehabilitation Lending, Small Business Administration (SBA) Lending and Warehouse Lending. As of December 31, 2016, Retail Banking included the Company's 39 branch locations across Southern California. Commercial Banking serves the needs of entrepreneurs and business owners. Private Banking caters primarily to high net worth individuals, entrepreneurs, and business owners. Financial Institutions Banking provides specialized deposit products and services to registered investment advisors, broker dealers, family offices, hedge funds, private equity funds and other financial services entities. Its products include a range of escrow products, trust services, special use accounts and standard business accounts. Additionally, it offers lending products, which include securities-backed credit facilities, insurance-backed loans, alternative asset-backed lines of credit and term loans, and leverage to hedge funds and private equity funds. Residential Portfolio Lending provides jumbo single family residential (SFR) mortgage loans for California's entrepreneurs and homeowners. Commercial Real Estate and Multifamily Lending provides lending products catering to California's entrepreneurial real estate investors. Construction and Rehabilitation Lending provides construction and rehabilitation loans to California's entrepreneurs and business owners. Warehouse Lending provides warehouse lines of credit to mortgage and commercial multifamily lenders. The Mortgage Banking segment includes the Company's mortgage banking business, operated under the trade name of Banc Home Loans, which originates primarily agency, government, and conforming mortgage loans.

Lending Activities

The Company offers a range of commercial and consumer loan products, including commercial and industrial loans, commercial real estate loans, multi-family loans, SBA guaranteed business loans, construction and renovation loans, SFR mortgage loans, warehouse loans, asset-, insurance- or security-backed loans, home equity lines of credit (HELOCs), consumer and business lines of credit, and other consumer loans. The Bank's lending activities are focused on providing financing to private businesses, entrepreneurs, homeowners and are secured by California commercial and residential real estate. The Company's residential lending activity includes both a direct-to-consumer retail residential lending business and a wholesale and correspondent mortgage business. The wholesale mortgage business originates SFR mortgage loans submitted to the Company by outside mortgage brokers for underwriting and funding. AS of December 31, 2016, the Company's total loans were $6.03 billion.

Investment Activities

The Company invests in SBA loan pool securities, debt and mortgage-backed securities issued by the United States-Government sponsored entities (GSEs), commercial mortgage-backed securities, private label residential mortgage-backed securities, corporate bonds, and collateralized loan obligations. As of December 31, 2016, the Company had $2.38 billion of securities available-for-sale and $884.2 million of securities held-to-maturity.

Sources of Funds

The Company's primary sources of funds are deposits, payments on and maturities of outstanding loans and leases and investment securities, and other short-term investments and funds provided from operations. The Company offers a range of deposit accounts to consumers, businesses, and institutional customers with a range of interest rates and terms. The Company's deposits consist of savings accounts, money market deposit accounts, interest and non-interest bearing demand accounts, and certificates of deposit. In addition to gathering consumer deposits through the Company's community banking activities, business banking, private banking and financial institutions banking activities are the sources of deposits. The Company utilizes Federal Home Loan Bank (FHLB) advances and securities sold under repurchase agreements to leverage its capital base, to provide funds for its lending activities. The Company's total deposits were $9.14 billion, as of December 31, 2016.

Company Address

Banc of California Inc

3 Macarthur Pl
SANTA ANA   CA   92707-6067
P: +1949.2365211
F: +1949.7775118

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