BANC OF CALIFORNIA Business Summary

Banc of California, Inc. (NYSE: BANC) operates as a relationship-focused commercial banking institution, generating the majority of its revenue through net interest income derived from a diverse portfolio of commercial, real estate, and specialty loans. Following its transformational 2023 merger with PacWest Bancorp, the company has solidified its position as the third-largest bank headquartered in California, managing over $34 billion in assets. Its primary business segments include Commercial and Community Banking, which serves middle-market businesses, and Specialty Banking, which provides tailored solutions for venture capital, technology, and healthcare sectors. The bank competes directly with regional heavyweights such as East West Bancorp, Western Alliance Bancorporation, and Zions Bancorporation, distinguishing itself through a high-touch service model and a robust deposit franchise that includes a significant portion of noninterest-bearing accounts. The leadership team is headed by Chairman, CEO, and President Jared Wolff, a veteran banking executive who previously served as President of Pacific Western Bank and General Counsel at City National Bank. He is supported by Executive Vice President and CFO Joe Kauder, who brought over 30 years of experience from Wells Fargo, and Bank President Hamid Hussain, formerly a senior executive at Wells Fargo’s Commercial Banking group. The company’s strategic direction is heavily influenced by its major institutional investors, Warburg Pincus and Centerbridge Partners, who provided a $400 million capital infusion to facilitate the PacWest integration. The board of directors features prominent industry figures, including Vice Chairman John M. Eggemeyer, a specialist in bank acquisitions, and Susan E. Lester, the former CFO of U.S. Bancorp.