secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2022-03-15T23:59:59+00:00
Accession:  0001169770-22-000017
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banc of California authorizes $75M share repurchase program through March 2023
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- Board authorized repurchase of up to $75M of common stock, expiring March 2023.
- Purchases allowed via open-market, block, privately negotiated transactions, subject to SEC rules.
- CEO Jared Wolff cites commitment to balance sheet optimization and shareholder value.
- Buyback follows redemption of Series E Preferred Stock as part of capital allocation strategy.
- Actual repurchases depend on price, volume, regulatory requirements, and market conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000017/0001169770-22-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000017/banc-20220315.htm
  HTML page:      https://secwatch.observer/filing/0001169770-22-000017

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer