Banc of California
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.