Los Angeles 2024 Olympic Bid Committee Teams Up with Banc of California

Banc of California to provide banking services to Los Angeles 2024 in its bid to host the 2024 Olympic and Paralympic Games

Feb 03, 2016, 16:26 ET from Banc of California, Inc.

IRVINE, Calif., Feb. 3, 2016 /PRNewswire/ -- Banc of California, N.A., a wholly owned subsidiary of Banc of California, Inc. (NYSE: BANC), announced today that it will serve as the commercial bank for Los Angeles 2024 (LA 2024), the bid committee working to bring the 2024 Olympic and Paralympic Games to the United States.

On September 1, 2015, the United States Olympic Committee announced Los Angeles as the Candidate City to represent the U.S. in its bid to host the 2024 Olympic and Paralympic Games. LA 2024 is currently engaged in a two-year bid process that culminates with the International Olympic Committee's Host City selection and announcement on September 15, 2017 at the 130th IOC Session in Lima, Peru.

LA 2024 is led by bid chair Casey Wasserman, Chairman and Chief Executive Officer of Wasserman Media Group, and bid CEO Gene Sykes, a partner at Goldman Sachs and former member of its Management Committee. NBA icon, Olympic gold medalist, and business leader Earvin "Magic" Johnson and legendary labor leader Maria Elena Durazo were recently named as LA 2024 Vice Chairs, along with four time Olympic gold medalist swimmer Janet Evans. The bid has the strong backing of Eric Garcetti, the 42nd Mayor of Los Angeles.

"Our bid is about the best of Los Angeles – innovation, creativity and sustainability. We are proud to partner with Banc of California to empower our Olympic dreams," said Wasserman.

Banc of California was recently named to Forbes Magazine's 2016 List of the 100 Best Banks in America, ranking as California's top performing bank.

"Banc of California is thrilled to partner with LA 2024 to help bring the Olympic Games back to Los Angeles. We believe in partnering with organizations that strengthen our communities and empower our private businesses, entrepreneurs and homeowners to pursue their California Dreams. This bid, under the stewardship of Mayor Eric Garcetti, Casey Wasserman and Gene Sykes, will benefit Los Angeles' economy and strengthen our diverse community," said Chad Brownstein, Vice Chairman of Banc of California.

Over the next two years, LA 2024 is partnering with the United States Olympic Committee to bring the Summer Olympic Games and Paralympic Games back to the United States for the first time since 1996. The Summer Games were last held in Los Angeles in 1984.

"Chad and I are honored and humbled that Banc of California has been selected as the commercial bank of LA 2024, and we're excited to work with the LA 2024 team to help make LA's Olympic bid a success," said Steven Sugarman, Chairman and Chief Executive Officer of Banc of California.

About Banc of California, Inc. Banc of California, Inc. (NYSE: BANC) provides comprehensive banking services to California's diverse private businesses, entrepreneurs and homeowners. 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.



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SOURCE Banc of California, Inc.