Photoshop: Bend Anchor Points Around A Circle

Question

I want to bend some text around a circle. I can just write the text on a path, but I want to keep the side that's not ON the path in a straight line.

For example, look at these chalk letterings.

The top of this one is a straight line, the bottom is curved:

And on this one, the top is curved, and the bottom is straight:

Here is my text, including the anchor points:

I want to pull the lower half of the anchor points down around a path (say, a curve for example), like the pics above.

How do I achieve this affect?

Answer 1

Highlight the vector/shape layer and choose Edit > Transform Path > Warp. Then move the handles you see on the shape.

Answer 2

If you goto Edit > Transform > Warp with your text layer selected and then select Arc Lower from the dropdown menu this will give you the effect you want. Change the Bend value to make the arc more or less severe.