In 2010, Banc of California was a dream in the minds of a small group of Southern California’s leading business owners and investors. This group of dreamers understood the lasting damage to California’s economy that would result from the bank failures that occurred during the Great Recession of 2008-2010. Businesses and homeowners alike were cut off from credit. Businesses began to shrink and close and an untold number of jobs were lost. Homeowners saw the value of their homes decline and many found themselves owing more than their homes were worth. The California Dream was damaged and fading.
We recognized the need for a bank focused on California, its businesses, its homeowners and its communities. We aspired to replace the over $35 billion of bank lending to California’s private businesses that had evaporated during the crisis. To that end, we recapitalized one of California’s oldest banking franchises that had served the region since 1941, and set out to fill the crippling credit void by building California’s pre-eminent banking franchise – the ultimate bank for those seeking the California Dream. Over the following five years, we joined forces with five of California’s most respected lending and banking franchises to strengthen the bank's ability to finance our customers diverse borrowing needs.
Empowering California's Diverse Private Businesses, Entrepreneurs and Communities.
Our 1,500 professionals service over 90,000 deposit and lending accounts from over 100 banking offices throughout California and across the West. We have increased our overall loan volume by more than 5,000% since 2010, and have focused our lending on local businesses that need it most. In 2014, Banc of California closed more than $5 billion in new loans to over 10,000 borrowers across the Golden State. Today, we are recognized as one of the fastest growing and largest independent banks headquartered in California.
For each dollar of deposits, Banc of California lends over one dollar to diverse private businesses, entrepreneurs and homeowners. With each of these transactions, we are funding the engines of growth and strengthening California’s economy and communities.
Together with the Banc of California Foundation, we’re reaching out to proven leaders and local causes with a commitment to building stronger communities through affordable housing and homeownership, financing small businesses and financial literacy education.
Banc of California continues to make strategic investments in its technology, systems, and people. While much progress has been made, much more will be accomplished. Through our focus on operational excellence, superior analytics, and cultivating a culture of California entrepreneurialism, we are building a higher standard of banking.