February 09, 2022 -- Banc of California, Inc. (NYSE: BANC) today announced that it will redeem on March 15, 2022 all of its outstanding 7.00% Non-Cumulative Perpetual Preferred Stock, Series E, par value $0.01 per share (the “Series E Preferred Stock”), and the corresponding depositary shares, each representing a 1/40th interest in a share of the Series E Preferred Stock (the “Series E Depositary Shares”). In addition, Banc of California announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per share on its outstanding common stock and a quarterly dividend of $0.4375 per depositary share on its 7.00% Series E Preferred Stock. The Series E Preferred Stock will be redeemed at a redemption price per share equal to $1,000 (equivalent to $25 per Series E Depositary Share). Because the redemption date is also a dividend payment date, the redemption price does not include any declared and unpaid dividends. The regular quarterly dividend, in an amount equal to $17.50 per share of Series E Preferred Stock (equivalent to $0.4375 per Series E Depositary Share), for the full current quarterly dividend period from, and including, December 15, 2021 to, but excluding, March 15, 2022 will be paid separately in the customary manner on March 15, 2022 to holders of record as of February 25, 2022. Oct 29, 2020 -- The Company has stated that they intend to use the net proceeds from the offering of the 4.375% Fixed-to-Floating Rate Subordinated Notes due 2030 (the notes are planned to be listed on any exchange) for general corporate purposes, including, but not limited to, the possible redemption of Series D Depositary Shares and/or Series E Depositary Shares, the possible repurchase of shares of common stock, the maintenance of required regulatory capital and to support future growth.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Banc of California, Inc., 7.00% Depositary Shares each representing a 1/40th Interest in a share of Non-Cumulative Perpetual Preferred Stock, Series E, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 3/15/2021 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 7.00% per annum ($1.75 per annum or $0.4375 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be the 15th calendar day prior to the payment date or on the record date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-35 of the prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	7.00% $1.75	$25.00 $25.00	Called for 3/15/2022 None	NF NF 1/04/2021	3/15, 6/15, 9/15 & 12/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	YES

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Email Address	IR@bancofcal.com
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Address and Phone Numbers

Address:   3 MacArthur Place, Santa Ana, CA 92707
Main Phone Number	855-361-2262
Fax Number	619-691-1350
Investor Contact (CEO)   Jared M. Wolff	949-385-8700
Toll Free Phone Number	877-441-2265

CEO - Jared M. Wolff

CFO - Lynn M. Hopkins