Banc of California Promotes Key Finance Executives

IRVINE, Calif.--()--Banc of California, Inc. (NYSE: BANC) today announced the promotions of three senior finance executives to head the Company’s Office of Finance. Brian Kuelbs has been named Chief Investment Officer, James McKinney has been named Chief Financial Officer, and J. Francisco A. Turner has been named Chief Strategy Officer.

“We continue to experience substantial growth in assets and profitability,” said Steven Sugarman, Chairman and Chief Executive Officer of Banc of California. “To support these positive achievements as well as our future plans, Banc of California’s Board and management are committed to enhancing our robust financial, strategic, and analytic capabilities. The deep and diverse financial backgrounds of Brian, Jim and Fran will serve us well in this regard. Today’s announcement positions us well to execute our mission of growing California’s Bank.”

Brian Kuelbs, as Chief Investment Officer, will have direct responsibility for the Company’s enterprise level capital allocation strategy and execution. In this role, Mr. Kuelbs will have oversight and responsibility for corporate treasury, balance sheet management, secondary marketing, and capital markets. Mr. Kuelbs has also been appointed to the Board of the Company’s wholly owned subsidiary, The Palisades Group LLC. Before joining Banc of California, Mr. Kuelbs served as Executive Managing Director, Chief Financial Officer and Head of Capital Markets at Home Point Financial Corporation; Chief Investment Officer and Chief Financial Officer at Aurora Bank FSB; and EVP and Chief Financial Officer at GMAC Bank. He earlier served as Managing Director of Capital Markets at Countrywide Financial Corporation and as CEO, President and Founder of GMAC Mortgage Asset Management Inc. / Core Cap, Inc. Mr. Kuelbs holds a B.S. from the University of Wisconsin-Madison and an M.B.A. from the University of Notre Dame.

James McKinney, as Chief Financial Officer, will have direct responsibility for accounting, tax, financial and regulatory reporting, and financial analytics. Mr. McKinney previously served as the Company’s Chief Accounting Officer. Before joining the Company, Mr. McKinney served as Vice President, Controller and Principal Accounting Officer at International Lease Finance Corporation (ILFC). Previously he held positions at RBS Asset Finance, KPMG and the Federal Reserve Bank of Chicago. Mr. McKinney holds a B.S. in Economics and Computer Science from DePauw University and a Masters in Accounting from Northern Illinois University.

J. Francisco A. Turner, as Chief Strategy Officer, will have direct responsibility for strategic planning, mergers and acquisitions, corporate financial planning, investor relations and capital offerings. Mr. Turner previously served as Managing Director, Financial Institutions Bank, and helped lead the Company’s acquisition of Banco Popular’s California branch network as well as recent capital offerings. Before joining the Company, Mr. Turner was the Managing Director of Institutional Banking for The Bancorp Bank and served on the Board of Directors and led business development for Transact Network. Mr. Turner started his career at Robertson Stephens and Spectrum Equity Investors. Mr. Turner holds an A.B. from Harvard University.

Banc of California, Inc. is a financial holding company under the supervision of the Federal Reserve Board. The Company’s stock is publicly traded on the New York Stock Exchange under the ticker BANC and its wholly owned national bank subsidiary, Banc of California NA, is chartered by the Office of the Comptroller of the Currency.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) provides comprehensive banking services to California’s diverse private businesses, entrepreneurs and homeowners. Banc of California operates over 100 offices in California and the West.

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.

Contacts

INVESTOR RELATIONS INQUIRIES:
Banc of California, Inc.
Timothy Sedabres, 855-361-2262
or
MEDIA INQUIRIES:
Vectis Strategies
David Herbst, 213-973-4113 x101

Contacts

INVESTOR RELATIONS INQUIRIES:
Banc of California, Inc.
Timothy Sedabres, 855-361-2262
or
MEDIA INQUIRIES:
Vectis Strategies
David Herbst, 213-973-4113 x101