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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Wed., Apr. 1, 9:19 PM

Slide #2. Banc of California, Inc. Secondary Offering

Company: Banc of California, Inc. (NYSE:BANC)
Date announced: 3/31/2015
Security type: 7.375% Non-Cumulative Perpetual Preferred Stock, Series D (BANC.PRD)
Shares Offered: 4,000,000.00
Date of Pricing: 3/31/2015
Price Per Share: $25
Secondary Offering Details: Banc of California, Inc. (the "Company") (NYSE:BANC), the holding company for Banc of California, National Association, today announced the pricing of its offering of $175 million aggregate principal amount of 5.25% Senior Notes due 2025 (the "notes offering") and its offering of an aggregate of 4 million depositary shares, each representing a 1/40th interest in a share of its 7.375% Non-Cumulative Perpetual Preferred Stock, Series D, par value $0.01 per share and liquidation preference of $1,000 per share, at an offering price of $25 per depositary share, for gross proceeds of $100 million (the "depositary shares offering" and together with the notes offering, the "offerings"). The Company expects to use the net proceeds from the offerings for general corporate purposes. Neither offering is contingent on the completion of the other offering.

Banc of California is a financial holding company and the parent of Banc of California, National Association (the Bank), the Palisades Group, LLC, an investment advior, and PTB Property Holdings, LLC, an entity formed to hold real estate, cash and fixed income investments. The principal business of the Bank consists of accepting retail deposits from the public and investing these funds primarily in commercial, consumer and real estate secured loans. The Bank solicits deposits in its market area and, to a lesser extent, from institutional depositors nationwide and may accept brokered deposits. As of Dec 31 2013, Co. had total assets of $3.63 billion and total deposits of $2.92 billion.

Preferreds: BANCP, BANC.PRC

Open the BANC Page at The Online Investor »

Company Name:  Banc of California, Inc.
Sector:  Banking & Savings
Number of ETFs Holding BANC:  17
Total Market Value Held by ETFs:  $12.15M
Total Market Capitalization:  $427.00M
% of Market Cap. Held by ETFs:  2.85%

Open the BANC Page at The Online Investor (in a new window) »

April 1, 2015    9:19 PM Eastern
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Buy (2.71 out of 4)
30th percentile
(ranked lower than approx. 70% of all stocks covered)
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