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Stock impact report

Banc of California set to change L.A. skyline with downtown expansion [Los Angeles Times (CA)]

Banc of California, Inc. (BANC) 
Last banc of california, inc. earnings: 4/29 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/4074352
The Los Angeles bank's expansion comes at a time when downtown office landlords have been struggling with high vacancies since the pandemic prompted a shift to remote work for many businesses. Banc of California has leased 40,000 square feet at 865 S. Figueroa St. and secured the rights to emblazon its name atop the 35-story tower just north of L.A. Live, the bank recently announced. “We moved our headquarters to Los Angeles two years ago because we believe in this city and in the power of the entrepreneurs and businesses that call it home,” Chief Executive Jared Wolff said. The bank used to be based in Santa Ana and is now headquartered in Brentwood. Its downtown offices are currently nearby in the Figueroa at Wilshire building, where the bank rents nearly 23,000 square feet, according to real estate data provider CoStar. The bank plans to move to its new offices downtown by the end of summer. The financial terms of its 11-year lease there were not disclosed. Banc of Cal Show less Read more
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