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First PacTrust: Banc Of California Announces Expanded Line Of Credit

The following excerpt is from the company's SEC filing.

Banc of California, Inc. (NYSE: BANC), the holding company for Banc of California, National Association, today announced it has expanded the Companys undrawn, revolving line of credit from $25 million to $75 million. The line of credit was underwritten by Wells Fargo Bank.

The expanded capacity on our holding company line of credit recognizes our accelerating financial performance and the continued strength of our balance sheet, said Steven Sugarman, Chairman and Chief Executive Officer of Banc of California. The expanded credit facility reflects our focus on optimizing our balance sheet and further strengthening both our funding and liquidity profile. This facility provides us with additional investment flexibility at the holding company to support the growth and expansion of our business.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) provides comprehensive banking services to Californias diverse businesses, entrepreneurs and communities. 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 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.

Source: Banc of California, Inc.




Vectis Strategies

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The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Notification filed by national security exchange to report the removal from listing and registration of matured, redeemed or retired securities - April 25, 2016
First PacTrust: Banc Of California Reports Record First Quarter Earnings - April 21, 2016
First PacTrust Bancorp releases salary data. CEO sees compensation fall -23% - April 15, 2016
First PacTrust: Partnership Schools Parent College Graduation CGI America WE ARE CALIFORNIAS BANK. Community Development Employee Team Building - April 11, 2016