Banc of California Set to Unveil 2024 Financial Results

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Banc of California: A leader in community banking and financial solutions

News Summary

Banc of California is preparing to announce its financial results for the fourth quarter and fiscal year ending December 31, 2024, on January 23, 2025. This announcement will provide insights into the bank’s performance during challenging economic conditions. The bank’s commitment to innovation and community support initiatives synergizes with the appointment of Karen Hon as Chief Accounting Officer, promising a bright outlook for 2025.

Exciting Times Ahead for Banc of California in 2025!

California is buzzing with news from Banc of California, Inc., especially as they prepare to unveil their financial results for the fourth quarter and fiscal year ending December 31, 2024. This eagerly awaited announcement is set for January 23, 2025, and it promises to give us a glimpse into how this robust bank has fared in these challenging economic times.

Mark Your Calendars: Financial Results Call

To keep everyone in the loop, Banc of California will host a conference call on the same day at 10:00 a.m. Pacific Time. Anyone interested in hearing the details can dial (888) 317-6003 and use the event code 4964279 to join the conversation. For those who prefer to watch and listen, a live audio webcast along with presentation slides will be available on their investor relations website prior to the call. And don’t worry if you can’t make it – an audio archive will also be accessible on the site within 24 hours after the call concludes.

A Bank with a Purpose

Banc of California is not just a financial institution; it’s a vital part of the community. With over $33 billion in assets, it operates around 80 full-service branches located throughout California as well as in Denver, Colorado, and Durham, North Carolina. As the third-largest bank headquartered in California, it serves small, middle-market, and even venture-backed businesses with a plethora of loan and deposit products.

But that’s just the beginning. Through its subsidiary, Deepstack Technologies, the bank provides payment processing solutions, making financial transactions smoother for its clients. Plus, with the SmartStreet™ platform, Banc of California supports those in the Community Association Management industry, further demonstrating its commitment to being a responsible and active participant in the economic landscape.

Financial Leadership Transition

In a significant move, Banc of California has announced the appointment of Karen Hon as Executive Vice President and Chief Accounting Officer. With over 20 years of experience under her belt, including an impressive 17 years at Silicon Valley Bank as the Chief Accounting Officer, she is stepping into a crucial role overseeing all accounting, controllership, and financial reporting activities, including Sarbanes-Oxley controls. This transition comes as the bank bids farewell to Jeff Krumpoch, who is retiring after 23 years of dedicated service.

SoCal Venture Pipeline: A Commitment to Innovation

In addition to its financial highlights, Banc of California continues its title sponsorship for the SoCal Venture Pipeline for the third consecutive year. This innovative venture capital matching program has successfully facilitated $112 million in funding to 24 companies and has seen three acquisitions since its inception. What’s particularly exciting is the program’s focus on helping early-stage startups from Southern California connect with venture capitalists, opening the doors to a world of investment opportunities.

Inclusivity is at the heart of the Pipeline program, which boasts that around 40% of its portfolio consists of women-owned businesses and 60% of minority-owned enterprises. By addressing own disparities in access to funding, the Pipeline program is working hard to ensure that entrepreneurship thrives across all demographics.

Looking Forward

Banc of California’s commitment to community support initiatives focused on financial literacy, job training, small business support, and affordable housing sets it apart as a bank that truly cares. As they gear up for the financial results call in January, the anticipation builds for what exciting developments lie ahead for this key player in the financial landscape.

In short, Banc of California is positioned not just to report numbers but to shine as a beacon of hope and innovation in the banking world! Stay tuned for what promises to be an intriguing update.