Banc of California, Inc. (NYSE:BANC) Q3 2023 Earnings Conference Call October 24, 2023 1:00 PM ET

Company Participants

Jared Wolff - President and Chief Executive Officer

Joseph Kauder - Chief Financial Officer

Bill Back - Head of Strategy for PacWest

Conference Call Participants

Timur Braziler - Wells Fargo

Matthew Clark - Piper Sandler

Gary Tenner - DA Davidson

Kelly Motta - KBW

Andrew Terrell - Stevens

David Feaster - Raymond James

Operator

Hello and welcome to Bank of California's Third Quarter Earnings Conference Call. [Operator Instructions] This call is being recorded and copy of the recording will be available later today on the company's investor relations website. Today's presentation will also include non- GAAP measures. The reconciliation for these and additional required information is available in the earnings press release, which is available on the company's investor relations website. The reference presentation is also available on the company's investor relations website. Before we begin, we would like to direct everyone to the company's safe harbor statement on forward-looking statements included in both the earnings release and the earnings presentation.

I would like now to turn the conference call over to Mr. Jared Wolff, Bank of California's, Chairman, President, and Chief Executive Officer. Please go ahead.

Jared Wolff

Good morning and welcome to Bank of California's third quarter earnings call. Joining me on today's call is Joe Kauder, our Chief Financial Officer, who will talk in more detail about our quarterly results, as well as Bill Back, Head of Strategy for PacWest, who will be joining bank of California in a similar capacity upon the closing of our merger with PacWest.

I'd like to start off by congratulating the teams at Bank of California and PacWest on a terrific job obtaining regulatory approval. It is worth noting that we obtained regulatory approval for the merger and also obtained approval for the combined bank to become a member of the Federal Reserve, which really is its own process altogether.

These approvals didn't just happen, and they required significant coordination. The results reflect the dedication and hard work of our colleagues and advisors. We also appreciate the dedication and equally hard work of our federal and state regulators, who had an important job to do.

With regulatory approvals in hand and our shareholder meetings set for late November, we anticipate closing on or around November 30. We look forward to delivering a franchise poised to provide significant benefits to our shareholders, clients, communities and colleagues.