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First PacTrust: Banc Of California To Purchase New Corporate Headquarters

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

Banc of California, N.A., a wholly owned subsidiary of Banc of California, Inc. (NYSE: BANC), today announced that it has entered into an agreement to purchase a Class-A office building located in Santa Ana, California. The purchase is expected to close in November 2015 and the Company intends to occupy the building as its corporate headquarters by transitioning personnel currently located in leased office locations across Orange County to the new location during 2016.

The consolidation of our employees into a central location will facilitate greater collaborati on across the organization and leverage operating efficiencies, while securing space to accommodate future growth and expansion said President and Chief...