# EDGAR Filing Document

**Accession Number:** 0001169770
**File Stem:** 0001169770-23-000017
**Filing Date:** 2023-2
**Character Count:** 12008
**Document Hash:** 7cc3388dd00d9501136172f1e13d35be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001169770-23-000017.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001169770-23-000017

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230223

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANC OF CALIFORNIA, INC.
- **CENTRAL INDEX KEY:** 0001169770
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 043639825
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35522
- **FILM NUMBER:** 23659967

**BUSINESS ADDRESS:**
- **STREET 1:** 3 MACARTHUR PLACE
- **CITY:** SANTA ANA
- **STATE:** CA
- **ZIP:** 92707
- **BUSINESS PHONE:** 949-236-5211

**MAIL ADDRESS:**
- **STREET 1:** 3 MACARTHUR PLACE
- **CITY:** SANTA ANA
- **STATE:** CA
- **ZIP:** 92707

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST PACTRUST BANCORP INC
- **DATE OF NAME CHANGE:** 20020322

?xml version="1.0" ? banc-20230223

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, DC 20549** 

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): February 23, 2023** 

**BANC OF CALIFORNIA, INC.** 

**(Exact name of registrant as specified in its charter)** 

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| | | |
|:---|:---|:---|
| **Maryland** | **001-35522** | **04-3639825** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |

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| | |
|:---|:---|
| **3 MacArthur Place, Santa Ana, California** | **92707** |
| **(Address of principal executive offices)** | **(Zip Code)** |

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**Registrant's telephone number, including area code: (855) 361-2262** 

**N/A** 

**(Former name or former address, if changed since last report)** 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock, par value $0.01 per share | BANC | New York Stock Exchange |

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**Item 5.02. &nbsp;&nbsp;&nbsp;&nbsp;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On February 23, 2023, Banc of California, Inc. (the "Company"), the holding company for Banc of California, N.A. (the "Bank"), announced that Lynn Hopkins, Executive Vice President and Chief Financial Officer of the Company and the Bank, would transition from the Company and step down effective March 31, 2023. In connection with her transition, subject to entering into a General Release Agreement, Ms. Hopkins will receive severance payments equal to 100% of her annual base salary and 50% of her target bonus.

The departure of Ms. Hopkins did not result from any disagreement with the Company, and Ms. Hopkins will serve as CFO through March 31, 2023, to assist in the transition process.

Raymond Rindone, age 52, currently the Company's Deputy Chief Financial Officer and Chief Accounting Officer, has been

appointed Interim Chief Financial Officer, effective March 31, 2023. Mr. Rindone has more than 25 years of experience in the financial services and banking industry. He joined the Company from City National Bank, a $90 billion asset bank headquartered in Los Angeles, and a division of Royal Bank of Canada. Mr. Rindone had been with City National since 2006, where he served in a number of important finance roles, most recently as Deputy Chief Financial Officer. Previously he served as SVP of Financial Management. Prior to that, Mr. Rindone was employed by IndyMac Bancorp and certain of its subsidiaries, in a number of finance and accounting leadership roles, including Division CFO, Division Controller, and First Vice President, Financial Management. Mr. Rindone also served as CFO of Platinum Capital Group, Inc. He began his career as a Senior Consultant with Coopers & Lybrand, LLP (now PricewaterhouseCoopers LLP). Mr. Rindone holds a B.S. in Accounting from University of Southern California and is a Certified Public Accountant (inactive).

Mr. Rindone has no arrangement or understanding between him and any other person required to be disclosed pursuant to Item 401(b) of Regulation S-K and has no family relationships required to be disclosed pursuant to Item 401(d) of Regulation S-K.

A copy of the press release issued by the Company announcing the resignation of Ms. Hopkins and the appointment of Mr. Rindone is attached to this report as Exhibit 99.1 and is incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Exhibits.**

<u>[99.1](prexecutiveannouncement.htm)</u>&nbsp;&nbsp;&nbsp;&nbsp;Banc of California, Inc. Press Release dated February 23, 2023

104&nbsp;&nbsp;&nbsp;&nbsp;Cover Page Interactive Data File (embedded within the Inline XBRL document)

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

**BANC OF CALIFORNIA, INC.**

Date: February 23, 2023

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| |
|:---|
| /s/ Ido Dotan |
| Ido Dotan |
| *Executive Vice President, General Counsel and<br>Corporate Secretary* |

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## Exhibit 99.1

![logoa07.jpg](logoa07.jpg)

**Banc of California Announces Transition of** 

**Chief Financial Officer**

Company Release – 2/23/23

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (the "Company"), the holding company for Banc of California, N.A. (the "Bank"), today announced that Lynn Hopkins, Executive Vice President and Chief Financial Officer of the Company and the Bank, would transition from the Company and step down effective March 31, 2023.

Raymond Rindone, currently the Company's Deputy Chief Financial Officer and Chief Accounting Officer, has been appointed Interim Chief Financial Officer, effective March 31, 2023.

Ms. Hopkins stated, "It has been a tremendous privilege to work with my exceptional colleagues at Banc of California. The work over these last three years has been highly rewarding and I am personally very gratified to have played a key role in transforming the Company to such a large extent. It has also been challenging work, and while exceptionally fulfilling, I look forward to enjoying some welcomed time with my family."

"Lynn has been an instrumental part of our transformation of Banc of California and played a key role in our success over the last three years," said Jared Wolff, the Company's President and CEO. "On behalf of the entire Banc of California team, I would like to express my deep gratitude to Lynn for all her valuable and significant contributions to the Company and wish her all the best in her endeavors. She deserves this time as much as anyone."

"We are fortunate to have an executive with Raymond's experience to serve as Interim CFO," added Mr. Wolff. "Raymond joined the Company in November of last year and has already made substantial impact with his leadership and expertise. I look forward to continuing to work with Raymond to execute on our strategic initiatives and grow our company for shareholders."

Mr. Rindone has more than 25 years of experience in the financial services and banking industry. He joined the Company from City National Bank, a $90 billion asset bank headquartered in Los Angeles, and a division of Royal Bank of Canada. Mr. Rindone had been with City National since 2006, where he served in a number of important finance roles, most recently as Deputy Chief Financial Officer. Previously he served as SVP of Financial Management. Prior to that, Mr. Rindone was employed by IndyMac Bancorp and certain of its subsidiaries, in a number of finance and accounting leadership roles, including Division CFO, Division Controller, and First Vice President, Financial Management. Mr. Rindone also served as CFO of Platinum Capital Group, Inc. He began his career as a Senior Consultant with Coopers & Lybrand, LLP (now PwC). Mr. Rindone holds a B.S. in Accounting from University of Southern California and is a Certified Public Accountant (inactive).

**About Banc of California, Inc.**

Banc of California, Inc. (NYSE: BANC) is a bank holding company with $9.2 billion in assets at December 31, 2022 and one wholly-owned banking subsidiary, Banc of California, N.A. (the Bank). The Bank has 34 offices including 28 full-service branches located throughout Southern California. Through our dedicated professionals, we provide customized and innovative banking and lending solutions to businesses, entrepreneurs and individuals throughout California, and full stack payment processing solutions through our subsidiary Deepstack Technologies. We help to improve the communities where we live and work, by supporting organizations that provide financial literacy and job training, small business support and affordable housing. With a commitment to service and to building enduring relationships, we provide a higher standard of banking. We look forward to helping you achieve your goals. For more information, please visit us at www.bancofcal.com.

**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.

3 MacArthur Place Santa Ana, CA 92707 (949) 236-5250 www.bancofcal.com

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| |
|:---|
| **Source: Banc of California, Inc.**  |
| **Investor Relations Inquiries:** |
| Banc of California, Inc. |
| (855) 361-2262 |
| Jared Wolff, (949) 385-8700 |

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3 MacArthur Place Santa Ana, CA 92707 (949) 236-5250 www.bancofcal.com