News Summary

Banc of California is set to unveil its fourth-quarter and fiscal year financial results on January 23, 2025. The bank will hold a conference call at 10:00 a.m. PT for stakeholders to discuss the important figures. Following the call, an audio archive will be available online. Also, the bank continues to support Southern California startups through its renewed title sponsorship of the SoCal Venture Pipeline, promoting diversity in venture funding. This news comes alongside the appointment of Karen Hon as the new Chief Accounting Officer.

Los Angeles Welcomes Major Updates from Banc of California

Hey there, Los Angeles! Exciting news is coming your way as the Banc of California prepares to unveil its financial results for the fourth quarter and the fiscal year ending on December 31, 2024. Mark your calendars for January 23, 2025, because that’s when the numbers will drop!

What’s Happening on January 23?

For all you finance buffs out there, the bank will hold a conference call starting at 10:00 a.m. Pacific Time (PT). It’s a chance to dive into the financials and see how the bank is performing. If you want to be a part of this conversation, you can join by calling (888) 317-6003 and using the event code 4964279. Don’t stress if you miss it live—an audio archive will be available on Banc of California’s investor relations website shortly after the call wraps up.

A Glance at Banc of California

Banc of California is not just any banking institution; it’s a robust bank holding company with over $33 billion in assets. It proudly serves small to middle-market businesses as well as venture-backed enterprises across California and beyond. Did you know that the bank has 80 full-service branches stationed in California, Denver, and Durham? That certainly gives it a significant footprint!

Financial Services and Community Focus

What makes Banc of California stand out? They offer a wide range of loan and deposit products to meet diverse financial needs. But it doesn’t stop there! The bank also provides payment processing solutions through its subsidiary, Deepstack Technologies, and supports the Community Association Management sector with its innovative SmartStreet™ platform.

Additionally, Banc of California is deeply committed to community support initiatives. They focus on fostering financial literacy, job training, support for small businesses, and the promotion of affordable housing. It’s heartening to see a bank that cares about giving back to the community!

Meet the New Chief Accounting Officer

Karen Hon as the new Executive Vice President and Chief Accounting Officer, taking over the reins from Jeff Krumpoch, who is retiring after an impressive 23 years with the institution. Karen brings more than 20 years of finance and accounting experience to the table, including 17 years at Silicon Valley Bank. She will be instrumental in overseeing all accounting operations, financial reporting activities, and ensuring compliance with Sarbanes-Oxley controls. It looks like the bank is in good hands!

Supporting the SoCal Venture Pipeline

Another piece of good news is that Banc of California has renewed its title sponsorship of the SoCal Venture Pipeline for the third consecutive year. This exciting program helps connect early-stage startups from Southern California with venture capitalists looking for investment opportunities. Since its launch, the Pipeline has facilitated an impressive $112 million in funding spread across 24 companies and three acquisitions. That’s what we call making an impact!

It’s noteworthy that approximately 40% of the Pipeline’s portfolio consists of women-owned businesses, while 60% are minority-owned. This initiative plays a crucial role in enhancing diversity and access in the venture capital landscape, addressing geographic disparities in entrepreneurial funding opportunities.

What’s Next?

With these developments on the horizon, Banc of California is definitely one to watch in 2025! Whether you’re a customer, an investor, or just someone keen on the financial world, these updates are sure to keep things interesting. So grab your coffee, set those reminders, and stay tuned for the financial results that are just around the corner!

Banc of California Announces Financial Results Call