Banc of California

Banc of California is an American commercial banking organization headquartered in Los Angeles, California. The institution operates through Banc of California, N.A., alongside its bank holding company structure, and serves customers through a branch network concentrated in California with additional locations in Colorado and North Carolina. Its workforce also includes employees in major U.S. financial and business centers such as New York and Chicago. The organization traces its origins to 1941, when Rohr Employees Federal Credit Union was established for employees of the Rohr Aircraft plant in Chula Vista, California. It later changed its name to Pacific Trust Federal Credit Union in 1995 and became Pacific Trust Bank in 2000, when it converted into a mutually owned federal savings bank. Pacific Trust Bank became a subsidiary of First PacTrust Bancorp in 2002. First PacTrust subsequently merged with Beach Business Bank in 2012, creating the corporate platform from which the modern Banc of California developed. In 2013, Pacific Trust Bank and The Private Bank of California were combined under the Banc of California name. The reorganization expanded the institution's commercial-banking identity and created a platform focused on businesses and affluent or specialized banking customers. Around that period, the company also hired former Los Angeles mayor Antonio Villaraigosa as a strategic advisor, linking the bank to the region's civic and business communities. The bank expanded its Southern California presence in 2014 by acquiring 20 branches from Popular, Inc. for $5.4 million. The transaction approximately doubled its branch count and increased reported assets to about $5 billion at the time. Banc of California later announced the acquisition of Pacific Mercantile Bank in 2021 in a transaction valued at $235 million, extending its position in California commercial banking. Banc of California's customer offering includes business and commercial loans, residential and consumer lending, deposit accounts, cash-management services, and treasury-management tools. Its strategic emphasis has included small and middle-market companies, entrepreneurs, venture-backed businesses, and organizations requiring more specialized banking support than a basic retail branch relationship. The bank has also maintained a visible Southern California profile through sponsorships, including relationships with the University of Southern California and Los Angeles FC. In July 2023, during a period of stress among U.S. regional banks, Banc of California agreed to acquire Pacific Western Bank in an all-stock transaction valued at approximately $1.1 billion. Warburg Pincus and Centerbridge Partners were to provide $400 million of investment capital to the combined company. The transaction closed in November 2023 and materially reshaped the scale and market position of the organization. Jared Wolff, who had previously held several executive positions at Pacific Western Bank, was central to the transaction and became President, Chairman, and Chief Executive Officer of Banc of California in 2025. The bank remains an active U.S. financial institution with a strong California identity and a broader commercial-banking footprint following the Pacific Western combination.

Banc of California developed from a community-oriented credit union founded in 1941 for employees of the Rohr Aircraft plant in Chula Vista, California. The original institution was Rohr Employees Federal Credit Union. It was renamed Pacific Trust Federal Credit Union in 1995 and then Pacific Trust Bank in 2000. The latter change accompanied its conversion into a mutually owned federal savings bank, moving the institution toward a broader banking model. In 2002, Pacific Trust Bank became a subsidiary of First PacTrust Bancorp. First PacTrust later completed a merger with Beach Business Bank in 2012. The combination brought together banking operations that were subsequently reorganized into a more expansive California commercial-banking platform. In 2013, Pacific Trust Bank and The Private Bank of California were merged and adopted the Banc of California name. This marked the formal emergence of the current brand and supported a strategy focused on business banking, specialized lending, and regional expansion. The institution also developed relationships beyond conventional branch banking. Former Los Angeles mayor Antonio Villaraigosa was hired as a strategic advisor, reflecting the bank's interest in the civic, commercial, and institutional networks of Southern California. In 2014, Banc of California purchased 20 Southern California branches from Popular, Inc. for $5.4 million. The transaction approximately doubled its branch footprint and brought reported assets to roughly $5 billion, giving the bank a significantly stronger presence in its home market. Leadership changed several times during the institution's expansion. Founding chief executive Steven Sugarman was succeeded by Doug Bowers in 2017. Jared Wolff became chief executive officer in March 2019. Wolff had previously held multiple executive roles at Pacific Western Bank between 2002 and 2014, experience that later became relevant to the bank's largest strategic transaction. In March 2021, Banc of California announced the acquisition of Pacific Mercantile Bank in a transaction valued at $235 million. The deal was part of a continuing effort to consolidate California banking operations and broaden the institution's commercial customer base. The next major turning point came in 2023. After bank runs and failures had generated heightened concern about regional banks in the United States, Banc of California agreed to acquire Pacific Western Bank in an all-stock transaction valued at approximately $1.1 billion. Warburg Pincus and Centerbridge Partners committed to invest $400 million in the combined company. The transaction was presented as a way to restore confidence in Pacific Western Bank while creating a larger and better-capitalized regional banking organization. It closed in November 2023. Following the combination, Wolff became President, Chairman, and Chief Executive Officer in 2025. The expanded organization operates a California-centered branch network with additional locations in Denver and Durham, while maintaining employees and business activity in other U.S. centers. Its services cover commercial and small-business banking, loans, deposits, treasury management, and related financial products. The bank has emphasized relationships with small and middle-market businesses, entrepreneurs, and venture-backed companies. Banc of California has also used sponsorship and community involvement to build a regional identity. It previously sponsored the University of Southern California Trojans and USC athletics. It was a major sponsor of Los Angeles FC and entered a 15-year, $100 million naming-rights arrangement for the club's Los Angeles stadium, which opened in 2018 as Banc of California Stadium. The naming-rights arrangement was restructured in 2020. In response to the Southern California wildfires of January 2025, the bank created a Wildfire Relief & Recovery Fund with a $1 million donation and later allocated the funds to Steadfast LA for small-business recovery in several affected communities. It also gave $250,000 to the Los Angeles Area Chamber's Small Business Disaster Relief Fund.

1. 2025Wolff becomes President, Chairman, and CEO

   Jared Wolff assumes the combined roles of President, Chairman, and Chief Executive Officer.

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2. 2023Pacific Western Bank acquisition closes

   The all-stock acquisition, valued at approximately $1.1 billion, closes in November after a $400 million investment commitment from Warburg Pincus and Centerbridge Partners.

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3. 2021Pacific Mercantile Bank acquisition announced

   The bank announces a $235 million acquisition of Pacific Mercantile Bank.

   Source
4. 2019Jared Wolff becomes chief executive officer

   Wolff succeeds Doug Bowers as CEO in March.

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5. 2014Southern California branch expansion

   Banc of California acquires 20 branches from Popular, Inc., approximately doubling its branch network.

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6. 2013Banc of California brand is formed

   Pacific Trust Bank and The Private Bank of California are merged under the Banc of California name.

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7. 2012First PacTrust Bancorp merges with Beach Business Bank

   The merger creates the corporate platform that later combines Pacific Trust Bank and The Private Bank of California.

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8. 2002Pacific Trust Bank becomes a First PacTrust Bancorp subsidiary

   The bank is placed under the First PacTrust Bancorp holding-company structure.

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9. 2000Pacific Trust Bank is established

   Pacific Trust Federal Credit Union is renamed Pacific Trust Bank and becomes a mutually owned federal savings bank.

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10. 1995The credit union becomes Pacific Trust Federal Credit Union

    The organization adopts the Pacific Trust name as it develops beyond its original employee-credit-union identity.

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11. 1941Rohr Employees Federal Credit Union is founded

    The institution begins as a credit union serving employees of the Rohr Aircraft plant in Chula Vista, California.

    Source

A California-centered commercial bank combining regional branch access with specialized lending, deposit, and treasury-management services for businesses, entrepreneurs, middle-market companies, and selected consumer customers.

• Commercial bankingBusiness banking

  Banc of California provides relationship-based banking for small businesses, middle-market companies, entrepreneurs, and venture-backed businesses. The offering combines operating accounts, credit facilities, deposits, payment-related services, and treasury support intended to help business customers manage liquidity and day-to-day financial operations.

• Commercial and business lendingLending

  The bank offers a broad range of business credit products, including loans and other financing arrangements for commercial customers. Its lending focus supports small and middle-market enterprises and can be used for operating needs, expansion, real-estate-related activity, and other business purposes.

• Deposit accountsDeposits

  Deposit services form a core part of the bank's retail and business relationships. Banc of California provides account-based banking for customers seeking a place to hold operating balances, savings, and other deposits, with the specific account mix varying by customer segment.

• Treasury managementCash management

  Treasury-management and cash-management services help business customers control collections, payments, balances, and liquidity. These services complement the bank's commercial lending and deposit relationships and are particularly relevant to companies with more complex operating or cash-flow requirements.

• Residential and consumer lendingConsumer finance

  The bank offers residential and consumer loan products as part of its wider lending portfolio. The reference material identifies these categories but does not specify the full product range, underwriting terms, or individual product names.

• 2025Wildfire Relief & Recovery Fund

  Southern California

  After the January 2025 Southern California wildfires, Banc of California created a relief and recovery fund with a $1 million donation to support recovery and rebuilding.

  Outcome. In August, the funds were allocated to Steadfast LA to support small businesses in Altadena, Malibu, and Pacific Palisades.

  Source
• 2020Los Angeles FC sponsorship restructuring

  Los Angeles · Southern California

  The bank's naming-rights relationship with Los Angeles FC was restructured after the stadium had operated under the Banc of California Stadium name.

  Outcome. The reference material confirms the restructuring but does not provide further terms.

  Source
• 2018Los Angeles FC stadium naming-rights sponsorship

  Los Angeles · Southern California

  Banc of California became a major sponsor of Los Angeles FC and entered a 15-year, $100 million naming-rights arrangement for the club's stadium in Los Angeles. The venue opened in 2018 under the Banc of California Stadium name.

  Outcome. The naming-rights arrangement was restructured in 2020.

  Source

• 2023Acquire Pacific Western BankM&A

  The agreement followed a period of stress and depositor runs affecting several U.S. regional banks. The transaction was intended to stabilize Pacific Western Bank and create a larger combined institution.

  What changed. Banc of California agreed to acquire Pacific Western Bank in an all-stock transaction. Warburg Pincus and Centerbridge Partners also agreed to invest in the combined company.

  Aftermath. The transaction closed in November 2023 and significantly expanded the organization's scale and market position.

  Transaction value; investment commitment. $1.1 billion transaction value; $400 million investment commitment (2023)

  Source
• 2021Acquire Pacific Mercantile BankM&A

  Banc of California continued consolidating its California banking platform and expanding its commercial-banking reach.

  What changed. The bank announced the acquisition of Pacific Mercantile Bank in a transaction valued at $235 million.

  Transaction value. $235 million (2021)

  Source
• 2014Acquire 20 Popular branchesM&A

  The bank sought to expand its Southern California branch network and customer base.

  What changed. Banc of California purchased 20 branches from Popular, Inc. for $5.4 million.

  Aftermath. The transaction approximately doubled the bank's branch count and brought reported assets to about $5 billion.

  Purchase price. $5.4 million (2014)

  Source

• 2026Banc of California named to America's Greatest Workplaces list

  Newsweek and Plant-A Insights Group named Banc of California to their America's Greatest Workplaces list.

  Other
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• 2025Jared Wolff becomes President, Chairman, and CEO

  Jared Wolff became President, Chairman, and Chief Executive Officer of Banc of California after the Pacific Western combination.

  Leadership change
  Source
• 2025Banc of California creates Wildfire Relief & Recovery Fund

  Following the Southern California wildfires, the bank established a relief and recovery fund with a $1 million donation. It later directed the funds to Steadfast LA for support of small businesses in Altadena, Malibu, and Pacific Palisades.

  Other
  Source
• 2025Banc of California contributes to Los Angeles small-business disaster relief

  The bank contributed $250,000 to the Los Angeles Area Chamber's Small Business Disaster Relief Fund for businesses affected by crises in the region.

  Other
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• 2023Banc of California agrees to acquire Pacific Western Bank

  During a period of regional-bank instability, Banc of California agreed to acquire Pacific Western Bank in an all-stock transaction valued at approximately $1.1 billion. Warburg Pincus and Centerbridge Partners were expected to invest $400 million in the combined company.

  M&A
  Source
• 2023Pacific Western Bank transaction closes

  The acquisition of Pacific Western Bank closed in November, creating a substantially larger combined banking organization.

  M&A
  Source
• 2021Banc of California announces Pacific Mercantile Bank acquisition

  Banc of California announced an agreement to acquire Pacific Mercantile Bank in a transaction valued at $235 million.

  M&A
  Source
• 2014Banc of California acquires 20 Southern California branches from Popular

  The bank purchased 20 branches from Popular, Inc. for $5.4 million, approximately doubling its branch network and increasing its assets to about $5 billion at the time.

  M&A
  Source

1. Banc of California