08:06 AM EDT, 03/23/2026 (MT Newswires) -- Banc of California ( BANC ) said Monday its board has extended the expiration of the company's $300 million stock repurchase program to March 16, 2027, from March 2026.

The company said it has repurchased around $217 million of stock under the program, leaving about $83 million available for future repurchases.

Banc of California ( BANC ) also intends to redeem all of the outstanding $385 million of 3.25% fixed-to-floating rate subordinated notes due 2031 originally issued by Pacific Western Bank, which are scheduled to reset to a floating rate equal to three-month term SOFR plus 252 basis points beginning on May 1.

The notes are redeemable in whole or in part beginning May 1, the company said.