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Slide #11. CS Financial, Inc. — RenovationReady
Acquirer:
CS Financial, Inc. (NYSE:BANC)
Acquiree:
RenovationReady
Details:
Banc of California, Inc. (NASDAQ:BANC) announced today that CS Financial, Inc., a subsidiary of Banc of California, National Association, recently completed the acquisition of certain assets, including service contracts and intellectual property, of RenovationReady, an established provider of specialized loan services to financial institutions and mortgage bankers that originate agency eligible residential renovation and construction loan products.
Banc of California is a bank holding company. Through its subsidiary, Banc of California, National Association, Co. is engaged in providing products and solutions for businesses, business owners, and individuals within California. Co. provides a number of loan products including commercial and industrial loans; commercial real estate loans and multifamily loans; small business administration loans; and construction loans. Co. provides a variety of deposit products to its clients with a range of interest rates and terms. Deposits consist of interest-bearing and noninterest-bearing demand accounts, savings accounts, money market deposit accounts, and certificates of deposit.
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