Banc Of California Inc | 7.75% Dep Shares Rate Reset Non-Cumul Preferred Stock, Series A (BANC.PRF)
Prospectus excerpt: We are offering 20,000,000 of our depositary shares, or the depositary shares, each representing a 1/40th ownership interest in a share of our 7.75% fixed rate reset non-cumulative perpetual preferred stock, Series A, par value $0.01 per share, or the Series A Preferred Stock, with a liquidation preference of $1,000 per share of Series A Preferred Stock (equivalent to $25.00 per depositary share). As a holder of the depositary shares, you will be entitled to all proportional rights and preferences of the Series A Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise any 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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