Just two months ago, Century City welcomed Banc of California to the professional community, and the revamped financial face has commanded immediate attention and respect from its Westside clients and peers.
Roots of the Bank Banc of California was born after Bank of California, Inc., formerly First PacTrust Bankcorp, Inc., announced a merger of two of its banking subsidiaries, The Private Bank of California and Pacific Trust Bank.
With the continued support of the community, the Bank has grown exponentially over time. Today, the Bank boasts more than $3.5 billion in assets and more than 70 banking and lending locations.
Recognizable names have placed their trust in the financial entity, also contributing to its rapid growth. Upon leaving office, former Mayor Antonio Villaraigosa took a position as Senior Advisor to the Bank’s CEO Steven Sugarman.
Founder of The Private Bank of California, Richard Smith also accepted a position, currently serving as Banc of California’s President of Private Banking.
About Richard Smith
Richard Smith has played an instrumental role in the Bank’s development and stands as an integral mastermind behind the successful operations of the Banc of California. When Smith paired his veteran experience with an entrepreneurial vision to create the Private Bank of California, he spurred the momentum that proves vital to the Bank today.
Smith has actively cultivated relationships in the entertainment industry, thereby carving out a “niche” for the Bank. His clients include, but are not limited to, studio executives, production companies, restaurants, and franchises.
“I have a passion for banking because I love meeting people,” Smith shared.
Clients Experience The Difference
This genuine sentiment transpires in the company culture, and the Bank distinguishes itself from others by embedding a personal touch into the corporate climate.
The Bank has created a business model of high level of banking without compromising a high level of service.
The Bank provides “exceptional service that simplifies financial lives and benefits the communities where our clients live and work,” the Bank’s mission statement reads.
Green & Tech-Minded
The company has also galloped alongside technology, implementing numerous strategies to ‘stay green.’ Employees now scan everything, enabling clients to access loan approvals and documents directly on their computers.
Many executives also use volt transportation. A volt car operates as an electric car deriving energy from a lithium ion battery pack for nearly 40 miles before the vehicle’s gasoline engine turns on to generate more electricity. Such travel produces less smog and emits fewer greenhouse gases into the environment.
“In order to compete in this industry, the goal is to make it effective and efficient,” said Smith.
Community Outreach
In addition to its environmental conscientiousness, Banc of California has a philanthropic side as well.
“The Bank is very concerned with the community, and whoever works here needs to give back,” Smith asserted.
“Banc of California is redefining what it means to be a community-oriented bank by demonstrating that community isn’t just based on geography, but instead based on engines of enterprise, education and homeownership, working together to lift communities up and make them stronger,” the Bank’s Foundation Brochure states.
With these ambitions in mind, the Banc of California launched the Banc of California Foundation with an initial commitment of $1.5 million to support local communities. The Foundation has vowed to build stronger communities through “affordable housing and homeownership, financing small businesses, and financial literacy and education.”
Future Of The Bank
Although the Banc of California nests in Century City, the financial mogul has already stretched its wingspan to other Southern Californian territories. A new location just opened in the Palisades, and the Bank hopes to cast its influence further within the next few years.
Moving forward, the company aims for continued organic growth and continuing acquisitions.
Just earlier this month, the Banc of California announced a valuable addition to the Bank, with Tom Senske joining as Senior Vice President of the Bank’s new commercial real estate and multi-family lending team.
“My team and I are thrilled to join Banc of California. We continue to be impressed by Banc of California’s leadership team, robust platform and entrepreneurial culture, and look forward to bringing new customers to the Bank,” Senske commented.
Though Smith does not anticipate international expansion, he shared that San Francisco and the Eastcoast may appear on the Bank’s radar soon.
