Banc of California is now known as **Banc of California, N.A.**, and its history mirrors many of the broader trends in banking, from periods of growth to challenges and ultimately restructuring phases. Following is a brief overview of its story:
### Early History
• **1941 Founded**: Banc of California was founded as a state-chartered bank in California. Although relatively small in structure, it was purposed to serve the community’s financial needs.
Growth and Development
* **1990s–2000s expansion**: In the second half of the 20th century and the first decade of the 21st, Banc of California grew organically and through strategic acquisitions. It had expanded its services and geographical presence, enhancing its position in California’s banking market.
### Financial Difficulties and Reorganization
– **2008 Financial Crisis**: Banc of California was one among the many banks that were greatly rattled by the global financial crisis. The impact of economic contraction was hard, and the bank had to find a way out of that challenging financial environment.
– **Restructuring and Rebranding (2014-2015)**: Following the aftermath of the financial crisis and as a reaction to the new market environment, Banc of California began its tectonic restructuring. This period was characterized by major changes and shifts in leadership and strategic direction.
– **Acquisition and Rebranding**: Banc of California underwent a rebranding exercise and finally rationalized its operations. It focused on being more specialized in various niches, such as commercial banking and real estate lending.
### Recent Developments
– **Continued Evolution**: Over the last few years, Banc of California continued changing with the times. By focusing on digital transformation and customer-centered services, the bank hoped to stay relevant in financial services.
– **Reputation and Growth**: The bank has worked on reputation enhancement and amplification of services. It is also engaged in various community programs and partnerships that have helped in further building its positioning in the market.
### Present Status
– **Modern Bank**: Banc of California is a modern, full-service bank with a focus on lending to businesses and individuals in California. It provides all types of financial products and services as one may think of associated with commercial and residential lending and wealth management, and deposit accounts.
This outline thus captures the story of Banc of California all the way from its founding to where it is now. If you need more specific details about certain events or aspects of its history, please don’t hesitate!