|APY||ACCOUNT TYPE||HOW THEY COMPARE|
2.70% - Capital One 24 Month 360 CD
1.45% - National Average
Banc of California is headquartered in Santa Ana and is the 13th largest bank in the state of California. It is also the 132nd largest bank in the nation. It was established in 1941 and as of June of 2018, it had grown to 731 employees at 37 locations. Banc of California's savings rates are 3X the national average, and it has a B+ health rating.
I'm one of the depositors from the PacTrust days and had transitioned to a Preferred Account at Banc of California with a 1.25% starting rate. It dropped to 1.15%, then to 1.09% and very recently to 1%, each time with no prior notice.
Hope this helps other existing customers of the institution.
They dropped their rates to 1% unless you are willing to make them your primary bank (direct deposit and a certain number of checks or bill pay). If you do that you can receive 1.25 APY%.
Their online interface is one of the worst - it took an in-person visit to the bank to stop mailed accounts and even then they didn't stop until additional contact with online CS.
However, I rarely interact with their online interface directly and use alternate websites to push/pull funds.
Although this bank had no info in my prior post - they confirmed they are offering a 1.1% APY in 2014. Since that's the best available, I'll keep my money with them. Haven't had any issues and with that sort of rate willing to deal with the lack of CS answers. I use Ally to push/pull - so no issues getting money in/out.
I opened an account with them when they were Pacific Trust Bank. Banc of California bought them out in the interim. They offered a special 1.25% APY til 12/31/2013. That deal ends in 2 weeks. I called today to find out the new rate and they will not provide the new rate until Jan 1, 2014. They "believe" it will drop .15%, although that is undetermined. I asked a variety of add'l questions all of which were met with vague answers. I've never heard a bank rep who had so little information. For example, the rep stated they would keep the rate 1.25% if I made them my 'main' bank. But they were unable to tell me what that meant. They didn't know if 1 bill pay or 20 was required. They said they didn't have that information. They said I needed to write checks. I asked how many? They said they didn't have that information. Hard to decide if I would switch to a bank that has no information.
This "Banc" is clueless, don't waste your time like I did trying to open a simple deposit account and a safe deposit box. I had called in advance and made a midmorning weekday appointment at a local branch office. I was provided with the terms/conditions for these items over the phone, and I arrived with full intent to complete the transaction. Upon my arrival, I was the only customer in the brach. The tellers greeted me, and referred me to the "new accounts" clerk. The "new accounts" clerk appeared to me like he had just got off his shift at Jiffy Lube or someplace similar. He was unable to open either the deposit account or the safe deposit box, and he was unable to contact anyone by phone to assist him. It is unbelievable that they can remain in business when they are so totally unprepared to accommodate new customers in person, with an appointment, and unable to reach anyone in their management chain by phone to figure it out. I departed and never returned.
Banc of Calif has little regard for its clients.
Rates dropped with no notice from 1.20% to 1% to .70% with no notice. I closed my acct the end of Nov 2014 and was promised I would receive a check
by Dec. 4. It is now Dec 5. Josh of the LJ branch has informed me that "for some reason" he failed to send it by 1-day UPS express..as a result, I am losing abt $10 day in interest. Check Bankrate.com for a more reliable bank
|FDIC Certificate #||35498|
|Return on Assets - YTD||0.66%|
|Return on Equity - YTD||6.01%|
|Annual Interest Income||$203.9MM|
|Assets and Liabilities|
|Assets||Q2 2018vs Q2 2017||$10.30B$10.36B|
|Loans||Q2 2018vs Q2 2017||$7.02B$6.35B|
|Deposits||Q2 2018vs Q2 2017||$7.17B$8.10B|
|Equity Capital||Q2 2018vs Q2 2017||$1.12B$1.13B|
|Loan Loss Allowance||Q2 2018vs Q2 2017||$56.7MM$42.4MM|
|Unbacked Noncurrent Loans||Q2 2018vs Q2 2017||$22.3MM$78.0MM|
|Real Estate Owned||Q2 2018vs Q2 2017||$710.00K$3.3MM|
Always verify rates and promotions with the bank or credit union. We are not Banc of California; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|1.60%||$10k||-||Personal High Yield Savings Account|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|3.00%||$25k||-||24 Month CD|
|2.90%||$25k||-||18 Month CD|
|2.50%||$25k||-||12 Month CD|
|2.05%||$25k||-||10 Month CD|