News Summary
Banc of California has secured an 11-year lease for 40,000 square feet at the skyscraper located at 865 S. Figueroa St. This significant expansion nearly doubles the bank’s office space in downtown LA. The move underscores the bank’s commitment to growth in the area, as it plans to relocate its headquarters by the end of summer next year. However, the downtown area is facing high office vacancy rates, presenting challenges amidst signs of a potential market recovery.
Los Angeles
Banc of California has finalized an 11-year lease for 40,000 square feet at the skyscraper located at 865 S. Figueroa St., marking a significant expansion in downtown Los Angeles. This deal includes the rights to display the bank’s name atop the 35-story structure, formerly known as the TCW Tower, which is situated just north of L.A. Live.
This move signifies a notable increase in the bank’s office space in the downtown area, nearly doubling from its previous 23,000 square feet at the Figueroa at Wilshire building. The bank plans to relocate its headquarters to this new location by the end of summer next year. Financial details regarding the lease have not been made public.
Banc of California’s CEO affirmed the bank’s commitment to serving the greater Los Angeles market, expressing confidence in the growth opportunities available in the city. Since moving its headquarters to Los Angeles from Santa Ana two years ago, the bank has steadily expanded its footprint, previously establishing offices in Beverly Hills and New York City.
Market Context and Challenges
Despite the bank’s growth plans, downtown Los Angeles is currently facing significant challenges as the area grapples with high office vacancy rates, where approximately one-third of the office space in its financial district remains unoccupied, a statistic consistent with findings from the previous year.
Institutional investors have expressed caution toward large investments in Los Angeles, largely due to evolving regulations that have impacted profit expectations. Recent policies, including a tax on significant real estate transactions and temporary eviction restrictions from the pandemic, have further fueled investor apprehension.
The expansion aligns with the bank’s strategy to solidify its presence in a market that is slowly starting to recover. Law firms, public agencies, and consulting firms have recently driven a spike in leasing activity, suggesting a potential resurgence in the downtown area despite the ongoing challenges.
Banc of California’s Financial Performance
Banc of California is currently recognized as the largest independent bank headquartered in Los Angeles and the third-largest bank in California. Recent financial reports indicate that the bank’s revenues increased by 5% to $288 million for the three months ending September 2025, showcasing a net profit during the third quarter, which marks a recovery from a net loss the previous year.
The bank has a positive outlook for the fourth quarter, anticipating continued profitable growth supported by strategic expansions in key markets and increased revenue from a variety of services. In addition, the bank has established signage on a building next to the 405 Freeway on Olympic Boulevard and believes that prominent office signs will be beneficial for visibility in light of major events, such as the 2028 Olympics.
This latest expansion in downtown Los Angeles follows Banc of California’s relocation of its corporate office on Park Avenue in New York in June 2025 and a previous expansion of its Beverly Hills office in March 2025, demonstrating the bank’s commitment to realigning and enhancing its operations across major urban markets.
Deeper Dive: News & Info About This Topic
HERE Resources
Los Angeles Launches City Contract Financing Program
Los Angeles Launches Contract Financing Program for Small Businesses
Three Students Taken into Custody After Weapon Incident at Pebblebrook High School
Rick Caruso Considers Run for California Governor or LA Mayor
Westchester Business Uses Nature Sounds to Deter Homelessness
Steadfast LA Launches $1 Million Grant Initiative for Small Businesses Affected by Wildfires
Oceanside Begins Construction on Pedestrian Crossing Extension
Additional Resources
- Los Angeles Times: Banc of California Expands Offices
- Wikipedia: Banc of California
- CoStar: Banc of California Expansion
- Google Search: Banc of California
- Commercial Observer: Banc of California Lease
- Encyclopedia Britannica: Banc of California
- Business Wire: Banc of California Q3 Earnings
- Google News: Banc of California Expansion
Author: STAFF HERE LOS ANGELES WRITER
The LOS ANGELES STAFF WRITER represents the experienced team at HERELosAngeles.com, your go-to source for actionable local news and information in Los Angeles, Los Angeles County, and beyond, specializing in "news you can use" with coverage of product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise from years of dedicated reporting and strong community input, including local press releases and business updates, while delivering top reporting on high-value events like the Academy Awards, LA Auto Show, and Los Angeles Marathon, extending coverage to key organizations such as the Los Angeles Area Chamber of Commerce and the Los Angeles Tourism & Convention Board, plus leading businesses in entertainment and technology like Warner Bros. and SpaceX, and as part of the broader HERE network including HEREAnaheim.com , HERECostaMesa.com , HEREHuntingtonBeach.com , and HERESantaAna.com , providing comprehensive, credible insights into Southern California's dynamic landscape. HERE Anaheim HERE Beverly Hills HERE Coronado HERE Costa Mesa HERE Hollywood HERE Huntington Beach HERE Long Beach HERE Los Angeles HERE Mission Viejo HERE San Diego HERE Santa Ana
