Powered by
Banc of California's mortgage biz sale, strategy shift may lower takeout value

Amid the latest developments at Banc of California Inc., the company filed its long-delayed Form 10-Q for the third quarter of 2016 and announced its decision to sell its mortgage platform.

The Irvine, Calif.-based company attributed the delay to an "inadequate tone at the top." The company said top-level decisions did not adequately reflect the importance of internal control over financial reporting and left the company open to material weakness, though the company found it had made no ma

Sign up for unrestricted access to 200+ subscription services.
Already have an account? Click here to login.

RelSci News & Alerts gets you:

  • 5 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
  • Competitive business intelligence through daily data updates
  • Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox