The Company is first in the history of the NYSE to transfer three
securities simultaneously: common, preferred and debt; selects Barclays
as its Designated Market Maker
IRVINE, Calif.--(BUSINESS WIRE)--
On May 29, 2014, Banc of California, Inc. (NYSE:BANC) commemorated
transfer of the listing of its common and preferred stock and its senior
notes from The NASDAQ Stock Market LLC (NASDAQ) to the New York Stock
Exchange (NYSE) by ringing the NYSE Opening Bell to begin the trading
day. Following the Opening Bell, Banc of California also became the
first transfer-listed company to ring a First Trade Bell, which
signifies when a stock officially begins to trade on the exchange. Both
ceremonies were led by Steven Sugarman, President and Chief Executive
Officer of Banc of California, who was joined on the ceremonial podium
by several members of the Company’s board of directors and executive
Banc of California also selected Barclays to serve as its Designated
Market Maker. With 80 years of experience, Barclays is one of the
largest Designated Market Makers on the NYSE representing approximately
950 NYSE-listed issuers.
“The NYSE is the business epicenter of America and the world. It is a
tremendous honor for Banc of California to kick off the trading day as
we joined the Big Board. The world’s greatest companies are listed on
the NYSE and we are proud to be listed among them,” said Sugarman.
“Being a NYSE-listed company will help us achieve our goal of becoming
California’s premiere bank for businesses, homeowners, and
entrepreneurs,” he added.
“As one of the country’s fastest growing financial holding companies, we
are proud to list Banc of California on our exchange,” said Scott
Cutler, Executive Vice President and Head of Global Listings, NYSE
Euronext. “The Opening and First Trade Bell Ringing were a good way to
mark this stock transfer and we look forward to providing the unique
benefits of our market, brand and community to the Company and its
In addition to its common stock, par value $0.01 per share, Banc of
California also transferred listing to the NYSE of its depositary shares
(each representing a 1/40th interest in one share of Banc of
California’s 8.00% Non-Cumulative Perpetual Preferred Stock, Series C)
as well as its 7.50% Senior Notes Due April 15, 2020. The depositary
shares (NASDAQ: BANCP) now trade at the NYSE under the new symbol BANC
PR C. The Senior Notes (NASDAQ: BANCL) now trade at the NYSE under the
new symbol BOCA.
About Banc of California, Inc.
Since 1941, Banc of California, Inc. (NYSE:BANC) through its banking
subsidiary Banc of California, National Association, has provided
banking services and home loans to businesses and families in California
and the West. Today, Banc of California, Inc. has over $4 billion in
consolidated assets and more than 80 banking locations.
This press release includes forward-looking statements within the
meaning of the “Safe-Harbor” provisions of the Private Securities
Litigation Reform Act of 1995. These statements are necessarily subject
to risk and uncertainty and actual results could differ materially from
those anticipated due to various factors, including those set forth from
time to time in the documents filed or furnished by Banc of California,
Inc. with the Securities and Exchange Commission. You should not place
undue reliance on forward-looking statements and Banc of California,
Inc. undertakes no obligation to update any such statements to reflect
circumstances or events that occur after the date on which the
forward-looking statement is made.
INVESTOR RELATIONS INQUIRIES:
Banc of California, Inc.
David Herbst, 213-973-4113 x101
Source: Banc of California, Inc.