Banc of California Inc
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Financials : Banks | Small Cap Value
Company profile

Banc of California, Inc. is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties. The Bank offers automated bill payment, cash and treasury management, master demand accounts, foreign exchange, interest rate swaps, trust services, card payment services, remote and mobile deposit capture, automatic clearing house (ACH) origination, wire transfer, direct deposit, and safe deposit boxes. Bank customers also have the ability to access their accounts through a nationwide network of automated teller machines (ATMs), online, telephone and mobile banking. The Bank's lending activities are focused on providing financing to private businesses, entrepreneurs and homeowners.

Closing Price
Day's Change
0.32 (2.80%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Bank stocks fall as Fed's dovish message pulls down Treasury yields

8:40 am ET July 30, 2020 (MarketWatch)

Bank stocks were broadly lower Thursday, to underperform the broader stock market indicators, as the 10-year Treasury yield fell in 3-month lows in the wake of Federal Reserve Chairman Jerome Powell's dovish message. The SPDR Financial Select Sector ETF (XLF) fell 1.5% in premarket trading, while futures for the Dow Jones Industrial Average gave up 223 points, or 0.9%. Among the sectors more heavily weighted members, shares of J.P. Morgan Chase & Co. (JPM) shed 1.5%, Bank of America Corp. (BAC) gave up 1.5%, Wells Fargo & Co. (WFC) lost 1.8% and Citigroup Inc. (C) shed 1.8%. The yield on the 10-year Treasury note fell 2.4 basis points to 0.553%, the lowest yield seen since April 21, after Powell said Wednesday that recent data suggests a slowing in the pace of the recovery, as COVID-19 cases increase. Lower long-term yields can hurt bank profits, as that narrows the spread between what banks earn on longer-term assets, such as loans, which are funded by shorter-term liabilities.

-Tomi Kilgore; 415-439-6400;

(END) Dow Jones Newswires

July 30, 2020 08:40 ET (12:40 GMT)

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