BANC BANC OF CALIFORNIA, INC.
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Executive Summary
Warburg Pincus LLC, a major institutional affiliate and investment manager, filed Form 144 on 2026-05-29 to sell approximately 102 shares of Banc of California, Inc. common stock (not the BANC-PF preferred) with an approximate market value of $1,962. The notice references two prior recent sales totaling ~$123.8M in May 2026 and notes the securities were acquired via merger consideration on 2023-11-30. This filing signals continued orderly distribution by a legacy institutional holder, but the tiny size relative to the entity's holdings and the bank's market cap is not material for the BANC-PF preferred security.
Actionable Insight
This Form 144 is a routine intent notice for a de minimis common-stock sale by a large institutional holder. For the BANC-PF preferred, there is no direct credit impact — the sale involves common equity, not preferred. The larger prior sales (~$124M in May) suggest ongoing portfolio reduction by Warburg Pincus, but this does not affect preferred dividend coverage or issuer solvency. No action warranted for BANC-PF holders.
Key Facts
- Warburg Pincus LLC filed Form 144 on 2026-05-29 for a proposed sale of 102 shares of Banc of California common stock.
- Estimated aggregate market value of the proposed sale is ~$1,962 (based on filing's stated price).
- The filing notes two prior recent sales by Warburg Pincus affiliates: 2,640,244 shares on 05/07/2026 (~$49.9M) and 3,917,436 shares on 05/26/2026 (~$73.9M).
- Shares were originally acquired as merger consideration on 11/30/2023 from the First PacTrust Bancorp merger.
- This filing concerns issuer common stock, not the BANC-PF preferred series.
Financial Impact
Proposed sale of ~$2,000 in common stock is immaterial relative to Warburg Pincus's remaining holdings and Banc of California's market cap. Prior two May 2026 sales totaled ~$123.8M.
Risk Factors
- Warburg Pincus may continue to sell common shares over time, adding modest overhead supply.
- No material risk to BANC-PF preferred dividend or credit profile from this filing.
Market Snapshot
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001193125-26-248737 |
| Document: 0001193125-26-248737-index.html | 0001193125-26-248737 |
| Document: 0001193125-26-248737.txt | 0001193125-26-248737 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 29, 2026
16d ago
|
144
| $25.20 $25.23 | ▲ +0.12% | ▲ +2.87% | $20.17 (−19.96%) |
|
May 26, 2026
19d ago
|
144
| $25.27 $25.11 | ▼ −0.63% | ▼ −1.10% | $20.17 (−20.18%) |
|
May 8, 2026
5w ago
|
144
| $25.62 $25.64 | ▲ +0.08% | ▼ −1.39% | $20.17 (−21.27%) |
|
Apr 22, 2026
7w ago
|
8-K
| $25.58 $25.41 | ▼ −0.66% | ▼ −2.14% | $20.17 (−21.15%) |
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Mar 26, 2026
11w ago
|
DEFA14A
| $24.94 $25.11 | ▲ +0.68% | ▼ −3.18% | $20.17 (−19.13%) |
US Market Status
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