Banc of California, Inc. (NYSE:BANC) Q2 2016 Earnings Conference Call - Final Transcript

Jul 21, 2016 • 10:00 am ET


Banc of California, Inc. (NYSE:BANC) Q2 2016 Earnings Conference Call - Final Transcript


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Good day and welcome to the Banc of California, Inc.' Second Quarter 2016 Earnings Conference Call and Webcast. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Mr. Timothy Sedabres, Director of Investor Relations. Please go ahead, sir.

Timothy Sedabres

Thank you and good morning, everyone. Thank you for joining us for today's second quarter 2016 earnings conference call. Joining me on the call today to discuss second quarter results are Banc of California is Chairman and Chief Executive Officer, Steven Sugarman; Chief Financial Officer, Jim McKinney; and Chief Risk Officer, Hugh Boyle. Today's conference call is being recorded, and a copy of the recording will be available on a Company's Investor Relations website. We have furnished a presentations that management will reference on today's call. And that presentation is also available on our website under the Investor Relations section.

Before I turn over, Steve, I want to remind everyone that, as always, certain elements of this presentation are forward looking, and are based on our best view of the world and our businesses as we see them today. Those elements can change as the world changes, please interpret them in that light. The forward looking statements are outlined in Slide 1 of today's presentation, which apply to our comments today. We will provide an opportunity for Q&A at the end of the presentation.And with that, I'll turn it over to our Chairman, President and CEO, Steven Sugarman.

Steven Sugarman

Thank you, Tim, and thank you all for joining us on today's second quarter earnings call. The second quarter of 2016 marked a significant milestone for Banc of California, as we crossed $10 billion in total assets during the quarter. We're very proud of this achievement, and the fact that Banc of California now stands is one of only four midsize banks headquartered in California.

Our team has dedicated itself to building more than just a community bank. We set out in 2010 to build California's premier banking franchise. Our investors knew that our vision was bold and that our path to success would require us to chart our own course. Fortunately, we counted as our partners, many of Los Angeles's most respected investors who have built their own California businesses by charting their own course.

We began with founding investors like Mark nacio, john marks campus at Crescent Capital, and also Marshall Geller and his team as St. Cloud Capital. Along the way, we've been humbled by the addition of other strategic Capital Partners, like Oaktree Capital Management, Endicott, and Kirk Wycoff at Patriot Financial Partners. The advice and support we received from all of our investors has helped us to hone our business model and avoid many pitfalls along the way. We have always aspired to be California's bank. And we have benefited from our partnerships, including with some of California's best regarded financial services firms.

Without the support of our key investor partners, we would have been challenged to have invested