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On the Record · Banc of California

Banc of California layoffs, on the record

Every job cut, severance charge and restructuring Banc of California reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 2,304 to 1,904.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 20232,304December 31, 2023
10-K for 20241,903December 31, 2024
10-K for 20251,904December 31, 2025

Job cuts, severance and restructuring

  1. Our summaryBegan a restructuring of its Civic lending subsidiary, removing most of Civic's top management and moving day-to-day operating functions to Bank managers. In the first quarter of 2023 · Affected: Most of Civic's top management

    Word for word“In the first quarter of 2023, we began a restructuring of Civic which included removing most of Civic's top management and transferring day-to-day management of most of Civic's operating functions to managers at the Bank.” 10-K for 2023

  2. Our summaryRecorded merger-related expenses from the BANC merger, including severance and employee-related costs. Year ended December 31, 2023

    Word for word“The following table shows the amount of the expenses related to the Merger for the year ended December 31, 2023: Year Ended December 31, 2023 (In thousands) Severance and employee-related $ 63,277 Legal and professional 32,523 Asset write-downs, lease terminations and other facilities-related 18,600 System conversion and integration 2,300 Other 5,024 Total merger-related expenses $ 121,724 The following table presents unaudited pro forma information as if the Merger had occurred on January 1, 2022.” 10-K for 2023

  3. Our summaryRecorded a goodwill impairment charge tied to the plan to restructure the Civic reporting unit.

    Word for word“The goodwill impairment charge related to Civic was the result of a strategy to restructure this lending subsidiary.” 10-K for 2023
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedRestructuring chargesCash paid for restructuring
2016-12-31$0—
2017-12-31$5.3 million$8.9 million
2018-12-31$4.4 million$4.5 million
2019-12-31$4.3 million$3.2 million
2020-12-31$0$1.2 million
2021-12-31$0—

Banc of California filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.

Read from Banc of California’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-27. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.