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Business

Peter Frank

Banc of California Bets on Short-Term Pain

Banc of California BANC

Banc of California (NYSE: BANC) has presumably gotten used to surprises. Its investors apparently have not.

After spending the past few years absorbing the larger and more troubled PacWest, Bank of California is still cleaning its books. This summer, the bank delivered another jolt to investors, this time one it chose rather than one that was forced on it.

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