IRVINE, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC), announced today the Company was ranked number one on the Orange County Business Journal’s list of the Fastest-Growing Public Midsize Companies headquartered in Orange County, California. Banc of California’s two-year revenue growth of 176% surpassed all other companies in its category and more than doubled the growth rate of the number two ranked company.
“This ranking further solidifies Banc of California’s success in becoming California’s Bank and expanding to serve California’s diverse private businesses, entrepreneurs, and homeowners,” said Steven Sugarman, President and Chief Executive Officer of Banc of California. “Importantly, our growth has resulted in significant increases in profitability. Since 2012, Banc of California’s annual net income has grown by over 850 percent, resulting in dramatically higher earnings per share.”
Orange County, California, with more than 3 million residents, is the sixth most populous county in America and is more populous than 21 states. As an economic center of California, Orange County is home to multiple Fortune 500 companies as well as a magnitude of locally-owned private businesses.
The Orange County Business Journal ranking measures all public companies based in Orange County by revenue growth over a two-year period, which ended on June 30, 2015. The publication places companies into three categorical lists: Small, Midsize, and Large. Banc of California previously topped the list in 2013.
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.
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.