– USA, CA – Banc of California, Inc. (NYSE: BANC) today announced that Richard Lashley has been appointed to its Board of Directors. Mr. Lashley also has been appointed as a director of Banc of California, N.A., the Company’s subsidiary bank.
Mr. Lashley will fill the Director vacancy created by the resignation of Steven Sugarman on January 23, 2017. His term will expire at the Company’s 2019 Annual Meeting of Stockholders. Mr. Lashley also has been appointed as a member of the Company’s and Bank’s Joint Audit Committee and their Enterprise Risk Committees. Mr. Lashley’s appointment to the Board is expected to become effective February 16, 2017.
Mr. Lashley is a co-founder of PL Capital Advisors, LLC, which beneficially owns approximately 6.9% of the Company’s voting common shares. Mr. Lashley previously served as Director of KPMG Financial Services – Capital Strategies Group, a national corporate finance practice providing merger and acquisition advisory services to thrifts, banks, mortgage companies and other financial services companies.
Robert D. Sznewajs, Chairman of the Board, said, “The addition of Mr. Lashley to the Board is consistent with our commitment to carefully consider constructive input from our stockholders. Mr. Lashley brings a wealth of expertise in the banking industry and corporate governance, and we are confident he will help us further our focus on the Company’s financial performance and profitability in order to enhance stockholder value.”
Mr. Lashley stated, “I look forward to continuing the collaborative and solutions-focused spirit with which PL Capital and the Board approached our discussions, and to leveraging my background and industry knowledge to help the Company meet its strategic goals and drive stockholder value.”
About Richard J. Lashley
Mr. Lashley is a principal of PL Capital Advisors, LLC, an investment firm specializing in the banking industry. Prior to co-founding PL Capital in 1996, Mr. Lashley was employed by KPMG, where he developed a specialization providing professional accounting and consulting services to numerous thrifts, banks and mortgage companies nationwide. In 1991, he was selected to be the Assistant to the National Industry Director of KPMG’s U.S. Banking and Finance practice. In 1993, Mr. Lashley was promoted to the position of Director, KPMG Financial Services – Capital Strategies Group, a corporate finance practice providing merger and acquisition advisory services to banks, thrifts, mortgage companies and other financial services companies nationwide.
Mr. Lashley has significant prior experience as a board member of numerous banks and thrifts throughout the U.S.
He received a Bachelor of Science Degree in Business Administration from Oswego State University in 1980 and an MBA degree in Accounting from Rutgers University in 1984. Mr. Lashley is a Certified Public Accountant (CPA) in New Jersey (status inactive).
About Banc of California, Inc.
Banc of California, Inc. (NYSE: BANC) provides comprehensive banking services to California’s diverse businesses, entrepreneurs and communities. Banc of California operates over 100 offices in California and the West. The Company was recently recognized by Forbes for the second straight year as one of the 100 Best Banks in America for 2017.
For more information : http://www.bancofcal.com
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