WELCOME TO BANC OF CALIFORNIA.
We are ready to serve you, following the successful completion of our merger with Pacific Western Bank on November 30, 2023.
DEAR VALUED CLIENT:
I am excited to share that Banc of California, Inc., has completed its transformational merger with PacWest Bancorp, the parent company of Pacific Western Bank. With the combined strength of both institutions, you will have access to a broader set of financial solutions and products to help with every step of your financial journey. Our goal as the premier relationship-focused business bank is to exceed your expectations by understanding your needs and providing solutions for today and tomorrow.
WHAT YOU CAN EXPECT
First, there will be no changes to your banking service, products or experience at this time. You can continue to access your accounts and conduct transactions as usual. Please continue to work with your primary banking contact or branch, as you have always done. Rest assured, our top priority is to ensure that this is a seamless transition, and our enhanced scale and capabilities will elevate your client experience.
Our team is working diligently to integrate our systems, products, services and processes. Both banks have significant experience with successful merger integrations and deep familiarity with each other, which will support an uninterrupted and improved experience for you. We expect these integrations to occur in the first half of 2024, and we will clearly communicate anticipated changes to you as far in advance of integration as possible.
TOGETHER WE WIN®
We are now the third-largest bank headquartered in California, with more than $36 billion in assets and more than 70 branches throughout the state, as well as branches in Colorado and North Carolina. Banc of California has a long history of serving clients and their businesses for over 80 years with personalized assistance, industry expertise and flexible solutions. We are committed to serving our valued clients throughout the country and delivering exceptional service, increased scale and expanded product offerings. Likewise, we are deeply dedicated to building relationships and strengthening our local communities. Most recently, we announced a $4.1 billion, three-year community benefits plan as part of this merger to make a meaningful and positive impact in the communities we serve.
REMAIN AWARE AND STAY INFORMED
Scammers can sometimes try to exploit unsuspecting individuals and businesses. As always, the best defense to safeguard your accounts, systems and devices against fraud is to remain alert. Please be aware that Pacific Western Bank or Banc of California will never contact you via email, text or phone to request your account information, password or other sensitive details.
On behalf of Banc of California, I am thrilled to welcome you to our bank. We understand you may have questions during this period. As always, please feel free to contact your Relationship Manager or Banker. The Frequently Asked Questions page may also help address some of your questions. We encourage you to return to this Merger Resource Center page to find ongoing updates and easy access to all our merger-related communications.
Thank you for your continued partnership and trust.
Sincerely yours,
Jared Wolff
Chairman and Chief Executive Officer
Banc of California
For more information about the merger, including important disclaimers, please see our joint press release available on www.bancofcal.com/investor.
YOUR ACCOUNTS WILL REMAIN THE SAME FOR NOW.
We are working hard to convert all agreements, signage, and processes to reflect the newly combined bank. Until that process is completed, and updates to your account agreements, documentation, and signage have been made, you may continue to see the names “Pacific Western Bank” and “Banc of California” Please note that updates are coming, and you will receive amended agreements and other documentation in the near future related to your accounts. In the meantime, your existing agreements and documentation will remain in place with, and any agreements you sign related to your accounts will be with, the newly combined bank, Banc of California. You can continue to access your accounts and conduct transactions as usual.
Your existing banking accounts and services will remain unchanged until our two banking systems and operations are integrated, which is currently anticipated to occur in first half of 2024. We will provide important details and updates regarding your accounts along the way and keep in close contact with you regarding any upcoming changes. If you have any questions or concerns, please feel free to reach out to your Pacific Western Bank relationship manager. Our combined bank remains committed to serving your banking needs.
There’s no impact to your deposit insurance coverage if you only have funds at one of the two merged banks. Your deposits continue to be insured by the FDIC, up to the standard limit of $250,000 per depositor for each ownership category. If you have deposits at both banks, eligible deposits from each bank remain separately insured by the FDIC for a grace period of at least six months after the bank merger. This grace period began on November 30, 2023 and gives you the opportunity to rearrange your deposit accounts to maximize your FDIC insurance if your total holdings at Banc of California and Pacific Western Bank exceed $250,000.
CLIENT COMMUNICATIONS
We are committed to keeping our clients informed. This list will be updated as we send client communications via mail or email.
FREQUENTLY ASKED QUESTIONS
We understand that you may have some questions about the merger. Please explore the FAQ page to help you find answers.
If you can’t find the information you’re looking for, please get in touch with your Pacific Western Bank Relationship Manager or visit your local Pacific Western Bank branch.
FRAUD AWARENESS REMINDER
During transitions, scammers can sometimes try to exploit unsuspecting individuals and businesses. The best defense to safeguard your accounts, systems, and devices against fraud is to remain alert. Know that Banc of California or Pacific Western Bank will never contact you via email, text, or phone to request your account information, password, or other sensitive details.
If you come across any suspicious activity or have security concerns about your account, report it right away at 877-770-BANC (2262).
IN THE NEWS
Please see key merger-related press releases below.
To learn more about Banc of California, please visit our Investor Relations page.
- Banc of California Designates Los Angeles as Headquarters and Donates $1 Million to Expand Financing Options for Small Businesses
- Banc of California Announces Completion of Transformational Merger with PacWest Bancorp and $400 Million Equity Raise
- Banc of California | Banc of California and PacWest Announce Transformational Merger and $400 Million Equity Raise from Warburg Pincus and Centerbridge
- Banc of California | Banc of California and Rise Economy Announce $4.1 Billion Community Benefits Plan
- Banc of California Receives Final Regulatory Approval for its Merger with PacWest Bancorp
- Banc of California and PacWest Bancorp Receive Stockholder Approvals for their Merger
TOGETHER WE WIN®
Together, we have the financial strength, industry experience, and depth of resources to provide an elevated client experience that better serves our clients and communities. Discover more about who we are and what we offer. You may also browse the Banc of California website—bancofcal.com—for a comprehensive look at our strengths, stability, products, and services.
AS YOUR
BUSINESS BANC,
we’re here to help you build your business with excellence in execution and innovation that makes a difference:
- Premier Client Service
- Industry Expertise
- Leading-Edge Technology
- Consultative Approach
- Superior Quality
- Customized Solutions
WE’RE INVESTING IN THE COMMUNITIES WE SERVE
Banc of California is the premier, relationship-focused, full-service business bank. Our depth of resources and financial strength allow us to adapt quickly and thoughtfully, delivering solutions to help our clients achieve their financial goals.
For over 80 years, Banc of California has served small and medium-size businesses and their principals. As one of the largest banks headquartered in California, with branches extending from California to North Carolina, we have the depth of resources to help your business grow and succeed.
