Banc of California Inc.’s Robert Franko has resigned from his post as president of the Irvine-based bank holding company.
Franko also has stepped down as president and chief executive of the company’s Banc of California unit.
Steven Sugarman, chief executive of the holding company, has been appointed to those roles.
Franko joined Banc of California last year, when the company acquired Manhattan Beach-based Beach Business Bank, where he was chief executive.
Franko’s resignation followed Banc of California’s announcement of its third-quarter financial results. The company had a $9.5 million loss in the latest quarter, compared with a profit of $9.2 million the same time last year.
The company had $3.72 billion in assets at the end of September, versus $1.67 billion a year ago.
It had $2.6 billion in loans, more than double from a year earlier.
