Banc of California Celebrates Half a Century of Racing Heritage and Community Spirit at the 2025 Acura Grand Prix of Long Beach
In a powerful testament to its deep roots in the Southern California community and enduring passion for high-performance excellence, Banc of California, a wholly owned subsidiary of Banc of California, Inc. (NYSE: BANC), has announced its continued sponsorship of one of the most celebrated motorsport events in North America — the 2025 Acura Grand Prix of Long Beach. The race, which will take place from April 11 to April 13, marks a monumental milestone: the 50th anniversary of this iconic event that has become a cornerstone of American racing culture.
As the official bank of the Acura Grand Prix of Long Beach since 2015, Banc of California has played a vital role in supporting the event’s legacy and expansion. This year, the bank not only reinforces its dedication to the motorsport community but also celebrates its role as a partner in shaping the economic and cultural identity of Southern California.
The Acura Grand Prix of Long Beach is more than just a race. It’s a historic, city-transforming celebration of speed, engineering, and community spirit. Over the course of five decades, the event has evolved into North America’s longest-running major street circuit race, drawing over 200,000 fans each year and bringing with it not only the thrilling roar of engines but also significant economic benefits and philanthropic impact for the region.
A Community-Driven Celebration of Speed
Banc of California’s involvement with the Grand Prix reflects a broader mission to align with organizations and events that elevate community, tradition, and California pride. Headquartered in Los Angeles, Banc of California is the largest independent bank in the region and the third largest bank headquartered in the state. Its decision to extend its partnership with the Grand Prix of Long Beach is both a celebration of local heritage and a strategic move to deepen its role in supporting meaningful civic and cultural experiences.
In a statement reflecting on the milestone, Jared Wolff, Chief Executive Officer of Banc of California, shared his enthusiasm and gratitude:
“We are honored to support the 50th anniversary of the Acura Grand Prix of Long Beach and all of those who make this monumental event possible every year. As the premier business bank serving California companies, we are proud to celebrate all of those who have made this race a success for the past 50 years and have given so much to the Long Beach community.”
Wolff’s remarks highlight a dual celebration — of motorsports excellence and of the people behind the scenes who work year after year to make the event a success, from organizers and sponsors to volunteers and fans.
A Half-Century of Heritage
Since its inception in 1975, the Grand Prix has undergone a remarkable transformation. Originally modeled after the Monte Carlo Grand Prix, it has grown from a modest Formula 5000 event into a world-class weekend of racing that features IndyCar, IMSA sports cars, and historic vehicles — all set against the scenic, sun-drenched backdrop of Long Beach’s coastal skyline.
This year’s 50th anniversary is not just a look back at the race’s storied past, but a celebration of the innovation and energy that continue to drive it forward. The Acura Grand Prix of Long Beach is part of Penske Entertainment’s expansive event portfolio, placing it among the most influential and professionally managed motorsport experiences in the world. Its ability to consistently attract top-tier talent, sponsors, and fans speaks volumes about its enduring appeal.
In addition to its reputation as a thrilling racing spectacle, the Grand Prix has become a vital economic engine for the Long Beach area. According to organizers, the event helps generate approximately 700 jobs across the region annually and supports hundreds of local businesses, from hotels and restaurants to vendors and service providers. The festivities span three days, blending motorsports with concerts, food festivals, family attractions, and car shows — creating a vibrant and inclusive environment that offers something for everyone.
More Than a Race: A Force for Good
Beyond the track, the Acura Grand Prix of Long Beach has also carved out a reputation as a philanthropic force in the community. Since 1991, the Grand Prix Foundation of Long Beach — the charitable arm associated with the event — has donated more than $4.2 million to Southern California nonprofits. These funds support a wide range of causes, including children’s health, education, and community services, reinforcing the race’s reputation as a community-first celebration.
The foundation’s work amplifies the shared mission that unites Banc of California and the Grand Prix: making meaningful, lasting impacts in the communities they serve. Through their partnership, the bank and the Grand Prix Foundation continue to work together to expand outreach efforts and deepen support for charitable programs across the region.
Jim Michaelian, President and CEO of the Grand Prix Association of Long Beach, expressed deep appreciation for Banc of California’s enduring support.
“We appreciate Banc of California’s consistent and long-standing support of the Acura Grand Prix of Long Beach. The bank’s commitment enhances the prestige of the event and allows us to do even more for our local community. We thank Banc of California and all of their team members who make this event possible — and we look forward to continuing our work together.”
Michaelian, a central figure in the growth and legacy of the Grand Prix, was recently inducted into the Motorsports Walk of Fame — a tribute to his invaluable contributions to the sport and his dedication to the Long Beach community.
Strategic Partnerships that Drive Cultural and Economic Impact
As regional banks seek ways to differentiate themselves in an increasingly competitive landscape, partnerships like the one between Banc of California and the Acura Grand Prix offer a blueprint for impactful, values-based sponsorship. By aligning with events that resonate on both a cultural and economic level, Banc of California enhances its brand visibility while also reinforcing its commitment to the people and businesses of California.
The sponsorship also reflects Banc of California’s broader strategy to be more than just a financial institution. In recent years, the bank has invested heavily in community engagement, small business growth, and strategic partnerships across entertainment, sports, and the nonprofit sector. Its relationship with the Grand Prix exemplifies this approach — combining visibility with genuine social investment.
Looking Ahead: Fueling the Next 50 Years
As the 2025 Acura Grand Prix of Long Beach prepares to mark its golden anniversary, both the event and its sponsors are looking to the future. For Banc of California, the next chapter involves doubling down on community impact, supporting California’s small businesses, and reinforcing its role as a cornerstone of regional economic development.
For the Grand Prix, the milestone year represents an opportunity to celebrate its evolution while also innovating for future generations of fans. As electrification, new racing formats, and emerging technologies reshape motorsports, the event remains committed to delivering an experience that is thrilling, inclusive, and deeply connected to the community.
Together, Banc of California and the Acura Grand Prix of Long Beach offer a powerful reminder that when speed, passion, and purpose align, the results can be both exhilarating and transformative.
About Banc of California, Inc.
Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $33 billion in assets and the parent company of Banc of California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California is the largest independent bank headquartered in Los Angeles and the third largest bank headquartered in California and offers a broad range of loan and deposit products and services through 80 full-service branches located throughout California and in Denver, Colorado, and Durham, North Carolina, as well as through regional offices nationwide. The bank also provides full-stack payment processing solutions through its subsidiary, Deepstack Technologies, and serves the Community Association Management industry nationwide with its technology-forward platform, SmartStreet™. The bank is committed to its local communities through the Banc of California Charitable Foundation, and by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. For more information, please visit us at www.bancofcal.com.
About the Grand Prix Association of Long Beach
The Grand Prix Association of Long Beach owns and operates the annual Acura Grand Prix of Long Beach, which attracts more than 190,000 attendees over its three-day weekend. The Grand Prix Association of Long Beach also owns GPALB Special Events, offering high-quality structures, bleacher rentals, event operation management and design. For more information, visit gplb.com.
