First PacTrust to Change Name to Banc of California

First PacTrust in Los Angeles plans to become to Banc of California.

The name change will become effective July 16, it said Monday. The company's ticker symbol, BANC, will remain the same. The company's two banks, Pacific Trust Bank and Beach Business Bank, will retain their names.

In a news release, the $3 billion-asset company said the change is intended to reflect its "emergence as a leading community bank serving businesses and families in California and the west."

First PacTrust closed a $51 million stock offering earlier this month. It has acquired several smaller West Coast banks since being recapitalized following the financial crisis, most recently completing a deal for the Private Bank of California in Century City.