Banc of California Files $1 Billion Shelf Registration

By Sarah Todd November 25, 2013, 9:52 a.m. EST 1 Min Read

Community banking

Banc of California President Resigns After Big Quarterly Loss

Banc of California's (BANC) president has resigned after the Irvine company reported a large quarterly loss and dive in its capital ratios.

By Chris Cumming

November 8
M&A

Banc of California Buys Investment Advisor Palisades

Banc of California (BANC) in Irvine has acquired the investment advisory firm Palisades.

By Sarah Todd

September 16
Community banking

Bankers Brace for Large Declines in Mortgage Revenue

Regional banks are expected to see a huge drop-off in mortgage originations over the second half of 2013 as interest rates continue to rise.

By Andy Peters

August 29
M&A

Banc of California Unit to Buy Mortgage Firm from One of Its Execs

Pacific Trust Bank in Los Angeles has exercised its option to buy CS Financial in Beverly Hills, the bank said in a regulatory filing. Jeffrey Seabold, the managing director of Pacific Trust's residential lending division, is a majority owner of CS.

By Chris Cumming

August 2

Banc of California (BANC) in Irvine has filed documents that would allow it to offer up to $1 billion of securities.

The $3.7 billion-asset company registered the securities with the Securities and Exchange Commission Friday. Banc of California said it could use proceeds from any sales to finance acquisitions, repurchase securities, fund investments in its subsidiaries and pay down debt, among other things.

Banc of California also plans to increase the number of shares of common stock it is authorized to issue, according to a separate SEC filing. The company is looking increase its authorized shares to 450 million, compared to its current authorization of 200 million shares.

Banc of California's president resigned earlier this month after the company lost $9.5 million in the third quarter. Costs tied to a string of recent acquisitions, including the purchases of investment advisory firm Palisades and mortgage lender CS Financial, contributed to the company's quarterly results.

Sarah Todd

Deputy Editor, BankThink