ADDED
As of February 13, 2026, there were 149,963,520 shares of registrant's voting common stock outstanding, excluding 75,498 shares of unvested restricted stock, and the registrant had 477,321 shares of class B non-voting common stock outstanding.
In the same "Governance - Documents Charters" section of our website, we have also posted the charters for our Audit Committee; Finance Committee; Compensation, Nominating and Corporate Governance Committee; and Enterprise Risk Committee, as well as our Corporate Governance Guidelines.
3 Glossary of Acronyms, Abbreviations, and Terms The acronyms, abbreviations, and terms listed below are used in various sections of this Annual Report on Form 10-K, including "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Item 7 and "Financial Statements and Notes to the Consolidated Financial Statements" in Item 8.
ACL Allowance for Credit Losses FRBSF Federal Reserve Bank of San Francisco AFS Available-for-Sale HFI Held for Investment ALLL Allowance for Loan and Lease Losses HFS Held for Sale ASC Accounting Standards Codification HLBV Hypothetical Liquidation at Book Value ASU Accounting Standards Update HOA Homeowners Association ATM Automated Teller Machine HTM Held-to-Maturity Basel III A comprehensive capital framework and rules for U.S.
Generally Accepted Accounting Principles FRB Board of Governors of the Federal Reserve System VIE Variable Interest Entity 4 ITEM 1.
Business Combinations" in Item 8 of this Form 10-K for additional information.
The Bank is one of the nation s premier relationship-based business banks, providing banking and treasury management services to small, middle-market, and venture-backed businesses.
The Bank also provides full-service payment processing solutions to its clients and serves the Community Association Management industry nationwide with its technology-forward platform, SmartStreet .
Specialty Banking is focused on serving clients in niche verticals by industry, including HOA, venture banking, lender finance, SBA lending, mortgage warehouse lending, media and entertainment, asset-based lending, and equipment finance.
Our Deposit and Transaction Services provide valuable services through tailored cash management and treasury management solutions, including foreign exchange and other liquidity management products.
REMOVED
As of February 14, 2025, there were 158,354,603 shares of registrant's voting common stock outstanding, excluding 208,927 shares of unvested restricted stock, and the registrant had 477,321 shares of class B non-voting common stock outstanding.
In the Corporate Overview - Governance Documents section of our website, we have also posted the charters for our Audit Committee, Finance Committee, Compensation, Nominating and Corporate Governance Committee, and Enterprise Risk Committee, as well as our Corporate Governance Guidelines.
Presentation of Results PacWest Bancorp Merger On November 30, 2023, PacWest Bancorp merged with and into Banc of California, Inc.
continuing as the surviving legal corporation and Banc of California, Inc.
The Merger was accounted for as a reverse merger using the acquisition method of accounting, therefore, PacWest Bancorp was deemed the acquirer for financial reporting purposes, even though Banc of California, Inc.
The Merger was an all-stock transaction and has been accounted for as a business combination.
Banc of California, Inc.'s financial results for all periods ended prior to November 30, 2023 reflect PacWest Bancorp results only on a standalone basis.
In addition, Banc of California, Inc.'s reported financial results for the year ended December 31, 2023 reflect PacWest Bancorp financial results only on a standalone basis until the closing of the Merger on November 30, 2023, and results of the combined company for the month of December 2023.
have been retrospectively restated to reflect the equivalent number of shares issued in the Merger as the Merger was accounted for as a reverse merger.
Under the reverse merger method of accounting, the assets and liabilities of legacy Banc of California, Inc.