News Column

Banc of California Receives Broad Community Support for Acquisition of Popular Community Bank Branches

July 14, 2014

Community Leaders Applaud Banc of California’s Support to Build Viable Communities and Expand Economic Opportunities for All Residents

IRVINE, Calif.--(BUSINESS WIRE)-- Banc of California, N.A. (the “Bank”), the national bank subsidiary of Banc of California, Inc. (NYSE:BANC), today announced broad support from diverse community organizations for Banc of California’s pending acquisition of branch locations from Popular Community Bank. Support from these numerous organizations was received in recognition of Banc of California’s dedication to community partnerships which serve to support programming related to financial literacy education, affordable housing, job skills training and small business lending programs and development.

“We are excited about the strong community support for our expansion plans and the positive feedback from leaders across the communities we serve,” said Steven Sugarman, President and Chief Executive Officer of Banc of California. “We believe this broad and deep support is a testament to the great work we are doing in our communities and is making a meaningful difference in order to transform lives and economies.”

Banc of California has received letters from community programs across Southern California voicing their support of the pending acquisition of branch locations from Popular Community Bank including:

  • Affordable Housing Clearinghouse
  • AmPac Tri-State CDC
  • AOF/Pacific Affordable Housing Corporation
  • Bread of Life Rescue Mission
  • Centro Latino for Literacy
  • Chinese – American Institute for Empowerment
  • Christ Our Redeemer African Methodist Episcopal Church
  • Clearinghouse CDFI
  • Community Action Partnership of Orange County
  • COR Community Development Corporation
  • Cornerstone Church of San Diego
  • Ecumenical Center for Black Church Studies
  • Family Service Association
  • Fullerton Technology Foundation
  • Habitat for Humanity of Orange County
  • Jesse Miranda Center for Hispanic Leadership
  • Junior Achievement of Southern California
  • JVS Los Angeles
  •  
  • Kennedy Commission
  • Los Angeles Conservation Corps
  • Los Angeles Latino Chamber Of Commerce
  • Los Angeles Team Mentoring
  • Mary Erickson Community Housing
  • National Asian American Coalition
  • National Hispanic Christian Leadership Conference
  • Neighborhood Housing Services of Los Angeles County
  • Neighborhood Partnership Housing Services
  • NeighborWorks Orange County
  • NetServe Systems, Inc.
  • Orange County Community Housing Corporation
  • Orange County Interdenominational Alliance
  • Orange County Interdenominational Ecumenical Council
  • Small Business Financial Development Corporation of Orange County
  • Taller San Jose
  • The Association of Financial Development Companies


  • “We are thankful for the strong showing of support from our community partners and are proud of the partnerships that we have forged with all of these and many other community organizations over the years,” said Gary Dunn, Senior Vice President and Community Development Officer for Banc of California. “We are dedicated to continuing to serve the needs of all households in the communities in which we operate including a focus on meeting the needs of under banked, minority and low-to-moderate income households.”

    “This recognition and support from organizations and leaders across the region serves to reinforce the positive reactions that we received from community leaders during our recent community outreach sessions in Orange County and Los Angeles,” said Eric Holoman, a member of Banc of California’s Board of Directors, Chairman of Banc of California’s Community Reinvestment Act Committee and President of Magic Johnson Enterprises. “We strive to meet our community's local needs by becoming involved with great organizations and lending a helpful hand to address the challenges our communities face.”

    Copies of the letters of support received from community organizations are available for viewing on the Bank’s website at bancofcal.com/about-us/community-development.

    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.

    Forward-Looking Statements

    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.

    Timothy Sedabres, 855-361-2262

    or

    MEDIA INQUIRIES:

    Vectis Strategies

    David Herbst, 213-973-4113 x101

    Source: Banc of California, Inc.


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    Source: Business Wire


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