Banc of California to Announce Fourth Quarter Results

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A vibrant scene at a Banc of California branch, illustrating community engagement.

News Summary

Banc of California, Inc. is set to release its fourth quarter and fiscal year financial results on January 23, 2025. The announcement is accompanied by a conference call at 10:00 a.m. PT, where stakeholders can learn about the bank’s performance. The company also introduces new leadership with the appointment of Karen Hon as Executive Vice President and Chief Accounting Officer. Notably, the bank has renewed its sponsorship for the SoCal Venture Pipeline, highlighting its commitment to supporting startups and enhancing diversity in venture capital.

Exciting Times Ahead for Banc of California!

Los Angeles is buzzing with excitement as Banc of California, Inc. announces its plans to release its eagerly awaited financial results for the fourth quarter and fiscal year ending December 31, 2024. Mark your calendars for January 23, 2025, because this is a big day for the bank and its stakeholders!

Mark Your Calendars!

The company is set to host a conference call on the same day, which will kick off at 10:00 a.m. Pacific Time. If you’re keen to learn more about how the bank has performed over the past year, this is an event you won’t want to miss.

For those interested in joining this informative call, simply dial (888) 317-6003 and make sure to reference the event code 4964279. But don’t worry, if you can’t catch the call live, a recording will be made available on Banc of California’s investor relations website within 24 hours after everything wraps up. This way, you can catch up on all the juicy details at your convenience.

Who is Banc of California?

Now, you might be wondering, what’s Banc of California all about? Well, this bank is not just any financial institution! With over $33 billion in assets, it serves a vibrant mix of small, middle-market, and even venture-backed businesses across the nation.

Banc of California proudly operates 80 full-service branches not just in sunny California, but also in lively Denver, Colorado, and charming Durham, North Carolina. As the third largest bank headquartered in California, they offer a wide range of loan and deposit products, making them a go-to choice for many.

Innovative Solutions and Community Support

But that’s not all! Banc of California also specializes in payment processing solutions through its subsidiary, Deepstack Technologies, and lends a helping hand to the Community Association Management industry with its cutting-edge SmartStreet™ platform.

This bank truly cares about the community and actively engages in initiatives aimed at boosting financial literacy, offering job training, supporting small businesses, and promoting affordable housing. Their commitment to making a positive impact is evident through their various programs.

New Leadership on the Horizon

In other news, the company has also appointed Karen Hon as the new Executive Vice President and Chief Accounting Officer, a role that involves overseeing all aspects of accounting, controllership, and financial reporting, including important Sarbanes-Oxley (SOX) controls. Karen brings a wealth of experience, boasting over 20 years in finance and accounting, with 17 of those years at Silicon Valley Bank.

She will be replacing Jeff Krumpoch, who is set to retire after a commendable 23 years with Banc of California and PacWest Bancorp. Karen’s depth of experience will surely enhance the company’s operational excellence.

Support for Startups

Excitingly, Banc of California has renewed its title sponsorship for the SoCal Venture Pipeline for the third consecutive year. This venture capital matching program has already facilitated a remarkable $112 million in funding to 24 companies and fostered three acquisitions since it started. It plays a pivotal role in connecting early-stage startups from Southern California with investors.

Plus, it should be noted that around 40% of the Pipeline’s portfolio consists of women-owned businesses, while 60% are minority-owned. This program makes a real push towards enhancing diversity within the venture capital scene and addresses geographic disparities when it comes to accessing funding.

A Bright Future

As Banc of California continues to innovate, support communities, and enhance diversity in the funding landscape, the upcoming financial results and new leadership will undoubtedly shape what’s next for this dynamic bank. Keep an eye on this space as we await the latest updates on January 23, 2025!