Fortune Magazine Names Banc of California to List of 100 Fastest Growing Companies

IRVINE, Calif., Sept. 14, 2016 /PRNewswire/ -- Banc of California, Inc. (NYSE: BANC), announced today it has been named to Fortune's Top 100 List of Fastest Growing Companies for the third consecutive year. Banc of California ranked as the seventh fastest growing company over the past year earning it a spot for the first time on Fortune's Top 10 list of Accelerators.

"It is an honor to be named to Fortune's list of Top 100 Fastest Growing Companies for the third straight year," said Steven Sugarman, Chairman and Chief Executive Officer of Banc of California. "The growth we are seeing is a direct result of the commitment and dedication of our over 1,800 employees who come to work every day with a shared vision to be California's Bank and deliver on our mission to empower California through its diverse businesses, entrepreneurs and communities."

Fortune's annual list of the Top 100 Fastest Growing Companies, now in its 30th year, examines three-year performance based on increases in revenues, profits per share, and stock return. The use of a three-year track record is intended to eliminate one-year wonders and identify those companies that are truly burning it up.

Banc of California was also named as a Top 10 Accelerator from the list of Top 100 Fastest Growing Companies.

Fortune stated, "Banc of California has filled a giant lending gap in the state. In the past six years, this 'California Strong' bank's assets have escalated from $700 million to over $10 billion. The bank prioritizes lending to community development projects like affordable housing, small businesses and financial literacy education."

Meanwhile, Banc of California also announced it has been recognized as "the fastest growing publicly traded U.S. bank" over the past five years by Bloomberg.  Additionally, on September 12, Bloomberg noted, "Among the more than 100 U.S. banks with a market value exceeding $1 billion, the [Banc of California]'s stock has delivered the highest return to shareholders in that group, about 56% this year, on top of 32% in 2015."

Banc of California finished August with over $11 billion in assets.

About Banc of California, Inc.
Banc of California, Inc. (NYSE: BANC) provides comprehensive banking services to California's diverse businesses, entrepreneurs and communities. Banc of California operates over 100 offices in California and the West.  

Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by Banc of California, Inc. with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and Banc of California, Inc. undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made.  

SOURCE Banc of California, Inc.

Related Links

http://bancofcal.com