IRVINE, Calif.--(BUSINESS WIRE)--Banc of California announced today it has been named by Forbes Magazine to the 2016 list of the Best Banks in America. To compile its ranking, Forbes analyzed 10 metrics using data from SNL Financial in order to rank the 100 largest publicly traded banks and thrifts by financial performance, operating efficiency, growth rate, and credit quality. Banc of California was included in the list for the first time, debuting at #56.
“This recognition firmly places Banc of California as one of the top performing banks in America,” said Steven Sugarman, Chairman and Chief Executive Officer of Banc of California. “We are especially pleased to have ranked in the Top 20 for return on tangible common equity and in the Top 5 for annual growth rate. We believe that our ROTCE over 15% and growth rate over 40% provides our shareholders with a compelling value proposition that will continue to result in industry leading earnings per share growth. In 2015, our total shareholders return of over 32% ranked in the Top 4 of the Top 100 Banks and exceeded by over 25% the total returns of each of the KBW Bank Index, the KBW Regional Bank Index and the Russell 3000.”
Recently ranked as the Fastest-Growing Public Midsize Company headquartered in Orange County, California, Banc of California finished 2015 with approximately $8.2 billion in total assets, $6.3 billion of total deposits and $5.9 billion in total loans.
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.
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.