Major Shareholding Notification • Feb 10, 2016
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Download Source FileSC 13G/A 1 d123796dsc13ga.htm SC 13G/A SC 13G/A
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G/A
(Rule 13d-102)
(Amendment No. 1)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
Banc of California, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
05990K106
(CUSIP Number)
December 31, 2015
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
x Rule 13d-1(b)
¨ Rule 13d-1(c)
¨ Rule 13d-1(d)
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CUSIP No. 05990K106 13G/A 73-1597141
| 1 | NAME OF
REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Forest Hill Capital, L.L.C., 73-1597141 | |
| --- | --- | --- |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP (a) ¨ (b) ¨ | |
| 3 | SEC USE ONLY | |
| 4 | CITIZENSHIP OR PLACE OF
ORGANIZATION Delaware | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 |
| | 6 | SHARED VOTING POWER 301,624 |
| | 7 | SOLE DISPOSITIVE POWER 0 |
| | 8 | SHARED DISPOSITIVE POWER 1,799,900 |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,799,900 | |
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (9) EXCLUDES CERTAIN SHARES ¨ | |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW 9 4.8% ** | |
| 12 | TYPE OF REPORTING PERSON* IA, OO | |
** SEE ITEM 4(b).
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CUSIP No. 05990K106 13G/A
| 1 | NAME OF
REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Mark Lee | |
| --- | --- | --- |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP (a) ¨ (b) ¨ | |
| 3 | SEC USE ONLY | |
| 4 | CITIZENSHIP OR PLACE OF
ORGANIZATION U.S. Citizen | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 |
| | 6 | SHARED VOTING POWER 301,624 |
| | 7 | SOLE DISPOSITIVE POWER 0 |
| | 8 | SHARED DISPOSITIVE POWER 1,799,900 |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,799,900 | |
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (9) EXCLUDES CERTAIN SHARES ¨ | |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW 9 4.8% ** | |
| 12 | TYPE OF REPORTING PERSON* HC, IN | |
** SEE ITEM 4(b).
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SCHEDULE 13G/A
This Amendment No. 1 (this Amendment) to Schedule 13G (the Schedule 13G) is being filed on behalf of Forest Hill Capital, L.L.C., a Delaware limited liability company (Forest Hill), and Mr. Mark Lee, principal of Forest Hill.
This Amendment relates to Common Stock, par value $0.01 per share (the Common Stock), of Banc of California, Inc., a Maryland corporation (the Issuer), purchased by Forest Hill for the accounts of (i) Forest Hill Strategic Value Fund, L.P. (Forest Hill Value), of which Forest Hill is the general partner and retains voting authority, and (ii) managed account #1, to which Forest Hill acts as investment advisor, but does not retain voting authority (the Non-Voting Account and together with Forest Hill Value, the Forest Hill Accounts).
This Amendment amends and restates the Schedule 13G as set forth below.
Item 1(a) Name of Issuer.
Banc of California, Inc.
Item 1(b) Address of Issuers Principal Executive Offices.
18500 Von Karman Ave
Suite 1100
Irvine, California 92612
Item 2(a) Name of Person Filing.
Forest Hill Capital, L.L.C. and Mark Lee
Item 2(b) Address of Principal Business Office, or, if none, Residence.
100 Morgan Keegan Dr., Suite 430
Little Rock, Arkansas 72202
Item 2(c) Citizenship or Place of Organization.
Forest Hill is a limited liability company organized under the laws of the State of Delaware. Mark Lee is the principal of Forest Hill and a United States citizen.
Item 2(d) Title of Class of Securities.
Common Stock, par value $0.01 per share (the Common Stock)
Item 2(e) CUSIP Number.
05990K106
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Item 3 Reporting Person.
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
| (a) | ¨ | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). |
|---|---|---|
| (b) | ¨ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). |
| (c) | ¨ | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). |
| (d) | ¨ | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). |
| (e) | x | An investment advisor in accordance with §240.13d-1(b)(1)(ii)(E). |
| (f) | ¨ | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F). |
| (g) | x | A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G). |
| (h) | ¨ | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). |
| (i) | ¨ | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). |
| (j) | ¨ | Group, in accordance with §240.13d-1(b)(1)(ii)(J). |
Item 4 Ownership.
(a) Forest Hill and Mr. Lee are the beneficial owners of 1,799,900 shares of Common Stock held by the Forest Hill Accounts.
(b) Forest Hill and Mr. Lee are the beneficial owners of 4.8% of the outstanding shares of Common Stock held by the Forest Hill Accounts. This percentage is determined by dividing 1,799,900 by 37,809,512, the number of shares of Common Stock issued and outstanding as of October 30, 2015, as reported in the Issuers Form 10-Q filed on November 6, 2015.
(c) Forest Hill has the power to vote the 301,624 shares of Common Stock held in Forest Hill Select and beneficially owned by Forest Hill. As the principal of Forest Hill, Mr. Lee may direct the vote of the 301,624 shares of Common Stock held in Forest Hill Select and beneficially owned by Forest Hill. Neither Forest Hill nor Mr. Lee has the power to vote the 1,498,276 shares of Common Stock held in the Non-Voting Account. Forest Hill has the power to dispose of the 1,799,900 shares of Common Stock held in the Forest Hill Accounts and beneficially owned by Forest Hill. As the principal of Forest Hill, Mr. Lee may direct the disposition of the 1,799,900 shares of Common Stock held in the Forest Hill Accounts and beneficially owned by Forest Hill.
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Item 5 Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owners of more than five percent of the class of securities, check the following x .
Item 6 Ownership of More Than Five Percent on Behalf of Another Person.
The Forest Hill Accounts have the right to receive or the power to direct the receipt of dividends from or the proceeds from the sale of securities.
Item 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.
Inapplicable.
Item 8 Identification and Classification of Members of the Group.
Inapplicable.
Item 9 Notice of Dissolution of Group.
Inapplicable.
Item 10 Certification.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired for the and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: February 10, 2016
| Forest Hill Capital, L.L.C. | |
|---|---|
| By: | /S/ MARK LEE |
| Mark Lee, Manager | |
| /S/ MARK LEE | |
| Mark Lee |
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