Banc of California Announces Launch of Trust Division

IRVINE, Calif.--(BUSINESS WIRE)-- Banc of California, N.A., a wholly owned subsidiary of Banc of California, Inc. (NYSE: BANC), announced today it has received approved from the Office of the Comptroller of the Currency to launch its Trust Division. The Bank’s Trust Division will provide a range of services to family, charitable, corporate and institutional trust clients including trust accounts, fiduciary management and enhanced deposit products.

Additionally, Banc of California announced it has hired Steven Canup as Managing Director, Fiduciary Services to lead the Trust Division. Mr. Canup joins Banc of California from NewBridge Capital & Trust, where he served as President. Previously, Mr. Canup was with B. Riley & Co., where he served as Managing Director and Head of the Financial Institutions Group. Additionally he brings significant experience serving in senior roles at FIG Partners, Concordia Financial Services, Aames Investment Corporation and East West Bank. Mr. Canup holds a B.A. in Economics from University of California-Los Angeles.

“We are excited to announce the addition of trust services to our platform. We see a meaningful deposit opportunity through the launch of the Trust Division, which enables us to serve the holistic needs of our clients by empowering them to achieve their own California dream,” said J. Francisco A. Turner, Chief Strategy Officer for Banc of California. “Additionally, we are excited to have Steven join the Banc of California team to lead the launch of our Trust Division as his broad and deep expertise in financial services is an ideal fit for our entrepreneurial culture.”

Banc of California expects the Trust Division to launch during the first quarter of 2016.

Recently Named to Forbes Magazine’s 2016 List of the 100 Best Banks in America and 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.

Forward-Looking Statements

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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160113006300/en/

INVESTOR RELATIONS INQUIRIES:
Banc of California, Inc.
Timothy Sedabres, (855) 361-2262
or
MEDIA INQUIRIES:
Vectis Strategies
David Herbst, (213) 973-4113 x101

Source: Banc of California, Inc.

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