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PL Capital reports 7.1% stake in Banc of California

The PL Capital Group acquired the common stock because it believes it is undervalued. The PL Capital Group also has significant concerns and questions about the company’s corporate governance, operating performance, financial projections and compensation plans. PL Capital Group’s intent is to engage in a dialogue with the management and board of the company to address these concerns and questions. If needed, the PL Capital Group will assert its stockholder rights.