EX-99.4 2 cg822994.htm

EXHIBIT 99.4

47 EAST CHICAGO AVENUE
SUITE 336
NAPERVILLE, ILLINOIS 60540
TEL: (630) 848-1340
FAX: (630) 848-1342
 
67 PARK PLACE EAST
SUITE 675
MORRISTOWN, NJ 07960
TEL: (973) 539-5400
FAX: (963) 539-5404







November 14, 2016


Mr. Steven Sugarman, Chairman, President & CEO
Banc of California, Inc.
18500 Von Karman Avenue
Suite 1100
Irvine, CA 92162

Dear Steve:

I want you and the board to know that PL Capital strongly supports the actions announced in the Company’s most recent SEC filing.  In that filing, the Company announced the formation of a Special Committee of Independent Directors (the “Committee”) to review certain purported improper relationships, related party transactions and related matters.  Importantly, the Committee is being aided in its review by independent counsel with no prior relationships with the Company or its officers or directors.  While it is always preferable to meet all SEC filing deadlines, in this instance it is better to delay the Form 10-Q and give the Committee and independent counsel time to do their review than to rush the review simply to meet the filing deadline.

I am also pleased that you have indicated that PL Capital will have an opportunity to meet with members of the board after the Committee’s work is completed.  As you and I discussed last week, that meeting will also be a chance for me and John Palmer to have a dialogue with the directors on a range of issues and concerns that we have expressed in prior communications to you and the board.

It is also very encouraging that you and I have had a constructive dialogue over the past two weeks or so.  Let’s keep that going.

Regards,

/s/ Rich Lashley

Rich Lashley
Principal