Banc Of California Inc | 7.375% Non-Cumulative Perpetual Preferred Stock, Series D (BANC.PRD)
Prospectus excerpt: We are selling 4,000,000 depositary shares each representing a 1/40th ownership interest in a share of 7.375% Non-Cumulative Perpetual Preferred Stock, Series D, $0.01 par value, with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share), referred to herein as the Preferred Stock. As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary.
Banc of California is a bank holding company. Through its subsidiary, Banc of California, National Association, Co. is engaged in providing products and solutions for businesses, business owners, and individuals within California. Co. provides a number of loan products including commercial and industrial loans; commercial real estate loans and multifamily loans; small business administration loans; and construction loans. Co. provides a variety of deposit products to its clients with a range of interest rates and terms. Deposits consist of interest-bearing and noninterest-bearing demand accounts, savings accounts, money market deposit accounts, and certificates of deposit.
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