Banc of California (BANC) came out with quarterly earnings of $0.10 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -47.37%. A quarter ago, it was expected that this banking service and lending company would post earnings of $0.26 per share when it actually produced earnings of $0.19, delivering a surprise of -26.92%.Over the ...

Exhibit 99.1 1 Second Quarter 2024 Results Press Release Banc of California, Inc. Reports Second Quarter 2024 Financial Results Company Release - 7/23/2024 LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) ("Banc of California"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the second quarter ended June 30, 2024. The Company recorded net earnings available to common and equivalent stockholders of $20.4 million, ...

Ryan Herron There’s a lot of work ahead for the management of Banc of California (NYSE:BANC). In addition to the normal integration work that would be required to bring PacWest into the fold after the 2023 merger, management is still restructuring the balance sheet to improve its funding situation, refining the loan book, monitoring a challenging office CRE market, and working to convince the Street on the merits of the PacWest deal. Expectations appear relatively restrained here, but it’s going to take ...

Sanghwan Kim/iStock via Getty Images Shares of Banc of California, Inc. (NYSE:BANC) are undeservedly languishing and trading way below book value, a sign that investors are mispricing the regional bank, in my opinion. The bank previously acquired PacWest and has made significant progress in repaying high-cost wholesale funding sources which is set to improve Banc of California's financial performance going forward. A significant decline in borrowings has led to an upsurge in the bank's net interest margin i ...

TORONTO, June 19, 2024 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (The "Company") declares its monthly distribution of $0.13925 for each Class A share and $0.06667 for each Preferred share. Distributions are payable July 10, 2024 to shareholders on record as at June 28, 2024. Under the distribution policy announced in November 2021, the monthly dividend payable on the Class A shares is determined by applying a 15% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the ...

Richard Drury Banc of California (BANC) acquired PacWest Bancorp on November 30, 2023. The bank subsequently implemented a number of changes to the loan and securities portfolio, realizing losses along the way, and eliminating less desirable assets. In the acquisition, Banc of California also assumed the preferred shares of PacWest, which we’d previously identified as a compelling opportunity based on the underlying strength of PacWest during the recent banking panic. The combination has since caused us ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ______ Commission File No. 001-35522 BANC OF CALIFORNIA, INC. (Exact name of registrant as specified in its charter) Maryland 04-3639825 (State of Incorporati ...

Banc of California Inc (NYSE:BANC) Q1 2024 Results Conference Call April 23, 2024 1:00 PM ET Company Participants Jared Wolff - Vice Chairman, President & CEO Joseph Kauder - Executive VP & CFO Conference Call Participants Jared Shaw - Barclays Matthew Clark - Piper Sandler Chris McGratty - KBW Timur Braziler - Wells Fargo Gary Tenner - D.A. Davidson Andrew Terrell - Stephens Timothy Coffey - Janney Brandon King - Truist Securities David Feaster - Raymond James Operator Hello, and welcome to Banc of Califor ...

Banc of California (BANC) reported $272.96 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 237.4%. EPS of $0.19 for the same period compares to $0.37 a year ago.The reported revenue represents a surprise of -7.79% over the Zacks Consensus Estimate of $296.02 million. With the consensus EPS estimate being $0.26, the EPS surprise was -26.92%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations t ...

Exhibit 99.1 1 First Quarter 2024 Results Press Release Banc of California, Inc. Reports First Quarter 2024 Financial Results with Improved Profitability and Strengthened Balance Sheet Company Release - 4/23/2024 LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) ("Banc of California"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the first quarter ended March 31, 2024. The Company recorded net earnings available ...