Banc of California Announces Redemption of $385mln Subordinated Notes and Extends Stock Repurchase Program

Banc of California has extended its $300 million stock repurchase program through March 16, 2027, and plans to redeem $385 million of subordinated notes due 2031 at 100% of the principal amount, along with accrued interest. The move aims to improve the company's funding profile, reduce interest expense, and strengthen its capital structure.