IRVINE, Calif.--(BUSINESS WIRE)--Banc of California, N.A., the national bank subsidiary of Banc of California, Inc. (NYSE: BANC), announced today that it expects to have funded a company record of over $1.4 billion in loans during the second quarter of 2014.
Jeff Seabold, Chief Lending Officer of Banc of California, stated “As California’s Bank, we are open for business. We are excited to have met the diverse credit needs of thousands of California’s businesses, entrepreneurs and homeowners during the second quarter. These results are a testament to the strong team of banking professionals we have assembled at Banc of California and puts us on pace to meet our ambitious lending goals for 2014.”
Steven Sugarman, Chief Executive Officer of Banc of California, stated “Good lending is good business. We are pleased to see strong demand for our lending products and to find attractive opportunities to deploy our capital. The Bank’s healthy loan growth will result in long term stockholder value, while strengthening the communities we serve.”
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 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.