First Pactrust Bancorp Inc. Announces Executives Appointments
July 02, 2012 at 08:30 am EDT
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First Pactrust Bancorp Inc. and Manhattan Beach jointly announced they have completed their merger, under which Beach shareholders are entitled to receive cash and warrants to acquire First PacTrust common stock with a total value of approximately $39 million. The banks also announced that at the completion of the merger, Robert M. Franko, president and CEO of Beach prior to the merger, became president of First PacTrust, and Robb Evans, a director of Beach prior to the merger, joined the board of directors of First PacTrust, expanding the board to eight members. In addition, at the completion of the merger, Beach directors Fred Jensen, Jim Gray and Dan Mathis joined the board of directors of PacTrust Bank.
Banc of California, Inc. is a bank holding company for its subsidiary, Banc of California (the Bank), a California state-chartered bank. The Bank provides a range of loan and deposit products and services through more than 90 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, and full-stack payment processing solutions through its subsidiary, Deepstack Technologies, LLC. The Bank also serves the Community Association Management Industry nationwide with its technology-forward platform SmartStreet. The Bank is organized into four business groups: Community Banking, Specialty Banking, Deposit Services, and Payment Solutions. Specialty Banking is focused on serving clients in niche verticals by industry, including homeowner associations, venture banking, SBA lending, mortgage warehouse lending, media and entertainment and equipment finance. Deposit Services provide valuable services to clients in the Community and Specialty Banking groups.
BANC OF CALIFORNIA, INC. 
