|[June 24, 2014]
Banc of California Focuses on Financial Literacy as Part of USC Athletic Sponsorship
LOS ANGELES --(Business Wire)--
Banc of California, Inc. (NYSE: BANC) announced today a focus on
financial literacy in cooperation with the University of Southern
California (USC) Athletics department as the company was named the
"Official Bank of USC Athletics." To launch the relationship, Banc of
California employees and USC Athletics staff hosted a Trojan's Kid
Corner event at Brittingham Field on the USC campus which engaged more
than 100 children from USC partner programs with financial literacy
classes, pep talks and sports workstations with USC coaches, as well as
the announcement of a 20,000-ticket giveaway to low-income students in
the neighborhoods surrounding the campus.
"At USC, we are pleased to partner with a company like Banc of
California, that places a significant value on giving back to the
communities it serves," said Pat Haden, USC Athletic Director. "By
teaming with Banc of California employees, we will be working together
to improve financial literacy for thousands of young people."
A 2008 National Foundation for Credit Counseling, Financial Literacy
Survey found that only 34 percent of parents have taught their teenagers
how to balance a check book and even fewer have discussed how credit
card interest and fees work. The same survey found only 59 percent of
millennials say they pay their bills on time every month and that three
out of four Americans say they are not saving enough.
"We are happy to give away 20,000 tickets to deserving members of the
community. To ensure that we are truly helping community members, each
ticket will come with a workbook on Financial Literacy," said Eric
Holoman, a member of Banc of California's Board of Directos and
President of Magic Johnson Enterprises. "As a USC graduate, I am pleased
to bring together my alma mater and Banc of California to enhance
financial literacy in communities surrounding USC."
USC Athletics staff in attendance included USC Football Head Coach Steve
Sarkisian and USC Men's Basketball Head Coach Andy Enfield. Both coaches
discussed athletics and the importance of understanding finances with
the children during their pep talks. Additional Banc of California
employees engaging with students included President and Chief Executive
Officer Steven Sugarman, Senior Vice President Gary Dunn, President of
Lending Jeff Seabold, and Banc of California's Senior Advisor, former
Los Angeles Mayor Antonio Villaraigosa.
"We are excited to add USC to our strong network of community partners,"
said Sugarman. "By working together, we look to broaden our efforts in
reaching out to all communities in need while at the same time,
providing our employees with new opportunities to volunteer and to also
enjoy USC Athletics. Additionally, this is an important opportunity for
Banc of California to tap into the phenomenal USC alumni network as we
look to grow our customer base throughout Southern California."
As part of Banc of California's commitment to community outreach, the
company recently became the largest investor in Clearinghouse CDFI, a
mission-based lending institution serving California's low to moderate
income communities. In 2012, Clearinghouse CDFI funded a record-level of
community development loans totaling over $70 million. These loans
included affordable housing, special needs housing, economic opportunity
projects and community facilities. Banc of California has also worked to
establish and expand partnerships with organizations seeking to
positively transform lives throughout California including the Cesar E
Chavez Foundation, Los Angeles Team Mentoring, Chicano Federation of San
Diego County, the LA Conservation Corps, JVS Los Angeles, Foster Care
Counts, the Watts Century Latino Organization, as well as charter
schools and other charities.
"We are delighted to partner with a strong, community oriented company
like Banc of California," said Sarkisian. "At USC, we know what it takes
to build excellence. It is about winning, but it is also about building
strong leaders, educating and giving back to the community. These are
values we share with Banc of California."
About Banc of California, Inc.
Since 1941, Banc of California, Inc. (NYSE: BANC) through its banking
subsidiary Banc of California, National Association, has provided
banking services and loans to private businesses, entrepreneurs and
homeowners in California and the West. Today, Banc of California, Inc.
has over $4 billion in consolidated assets and more than 80 banking
USC Sports Properties
A division of FOX Sports Networks, USC Sports Properties is a full
service sales and marketing organization representing the University of
Southern California. Its mission is to create long-term strategic
partnerships through customized, integrated marketing programs that
deliver great value while addressing the needs and objectives of its
corporate partners, USC, and its stakeholders.
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