Banc of California, Inc. (BANC)

Banc of California has experienced several stock-related events in the past six months. The Board of Directors authorized the repurchase of up to $150 million of its common stock. At the Annual Meeting of Stockholders, all twelve director nominees were elected, and Ernst & Young LLP was ratified as the independent registered public accounting firm. The company reported diluted earnings per share of $0.38 for the third quarter, and the share price increased by 11.56% over the previous year.

While specific details on demand seasonality are not explicitly provided, general banking services can experience seasonal fluctuations. Loan demand may be influenced by economic cycles and business investment patterns, and deposit levels can vary due to tax seasons, holiday spending, and corporate financial cycles. The company's focus on small- and middle-market businesses suggests that demand for its commercial banking and lending solutions aligns with the operational and investment cycles of these business segments.

Banc of California, Inc. operates as a bank holding company for Banc of California, a state-chartered bank, providing financial services in the commercial banking industry. It offers a range of deposit and loan products, including checking, savings, real estate loans, commercial loans, and consumer loans. The company also provides international banking, asset management, payment processing solutions through Deepstack Technologies, and serves the Community Association Management industry with SmartStreet™. Banc of California is organized into four business groups: Community Banking, Specialty Banking, Deposit Services, and Payment Solutions.

Banc of California is headquartered in Los Angeles, California, and operates through 79 to 80 full-service branches throughout California, with additional locations in Denver, Colorado, and Durham, North Carolina. The company also maintains regional offices nationwide and is the largest independent bank headquartered in Los Angeles and the third largest bank headquartered in California.

Banc of California focuses on relationship-based banking, fostering customer loyalty and trust. The bank has demonstrated its commitment to local communities through initiatives like the Wildfire Relief & Recovery Fund and contributions to the L.A. Area Chamber's Small Business Disaster Relief Fund. The bank also renewed its title sponsorship for the third consecutive year with the SoCal Venture Pipeline.

The ownership structure of Banc of California stock includes institutional, retail, and individual investors. Institutional investors hold approximately 81.8% of the company's shares, with major holders including BlackRock, Inc., Warburg Pincus Llc, and T. Rowe Price Investment Management, Inc. Individual insiders own approximately 0.723% of the shares, with W. Kirk Wycoff being the largest individual shareholder.