Business Context and Reporting Period
This Form 8-K Current Report was filed by Banc of California, Inc. on December 20, 2016. The report addresses a corporate governance event regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to a disclosure of personnel changes and does not contain financial performance data.
Material Changes
The material change disclosed is the departure of a director from the Board of Directors. On December 20, 2016, Halle J. Benett informed the Company and its subsidiary, Banc of California, N.A., of his decision not to stand for re-election as a director at the 2017 annual meetings of stockholders.
Guidance, Outlook, and Management Commentary
Mr. Benett indicated that his decision was based on personal reasons, specifically his assessment of the demands of his business activities and employment. He will continue to serve as a director until the conclusion of his current term at the 2017 annual meetings. The filing contains no financial guidance, risk factors, or contingencies.
Key Facts for Investor Verification
- Halle J. Benett will not seek re-election as a director for the Company or the Bank in 2017.
- The reason cited for the departure is personal, related to business and employment demands.
- Mr. Benett remains a director until the end of his current term.
- No financial results or operational metrics are included in this specific filing.