Investor Presentation Draft v4.5 1/21/24 Fourth Quarter and Full Year 2024 Results Forward-Looking Statements and Other Matters This presentation includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, liquidity and capital ratios and other non-historical statements. Words or phrases such as ...

Core Insights - Banc of California (BANC) reported revenue of $264.27 million for Q4 2024, a year-over-year increase of 36.9% [1] - The EPS for the same period was $0.28, a significant improvement from -$0.46 a year ago, with an EPS surprise of +21.74% compared to the consensus estimate of $0.23 [1] - The revenue fell short of the Zacks Consensus Estimate by -3.23% [1] Financial Performance Metrics - Net Interest Margin was reported at 3%, slightly below the average estimate of 3.1% [4] - Annualized net loan charge-offs to average total loans held-for-investment were 0.5%, higher than the estimated 0.1% [4] - Average balance of total interest-earning assets was $30.82 billion, compared to the estimated $30.96 billion [4] - Total Non-performing assets amounted to $199.34 million, exceeding the estimate of $174.39 million [4] - Total Non-performing loans were reported at $189.61 million, higher than the average estimate of $165.06 million [4] - Net Interest Income was $235.29 million, below the estimated $238.86 million [4] - Total Non Interest Income was $28.99 million, compared to the estimate of $34.19 million [4] - Other commissions and fees were $8.23 million, slightly above the estimate of $8.21 million [4] - Service charges on deposit accounts were $4.77 million, lower than the estimated $5.33 million [4] - Leased equipment income was $10.73 million, below the average estimate of $11.55 million [4] Stock Performance - Shares of Banc of California have returned +3.3% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

分组1 - Banc of California reported quarterly earnings of $0.28 per share, exceeding the Zacks Consensus Estimate of $0.23 per share, and showing a significant improvement from a loss of $0.46 per share a year ago, resulting in an earnings surprise of 21.74% [1] - The company posted revenues of $264.27 million for the quarter ended December 2024, which was 3.23% below the Zacks Consensus Estimate, but an increase from $193.06 million in the same quarter last year [2] - Banc of California shares have increased approximately 4% since the beginning of the year, outperforming the S&P 500's gain of 3.5% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.27, with expected revenues of $277.91 million, and for the current fiscal year, the EPS estimate is $1.33 on revenues of $1.17 billion [7] - The Zacks Industry Rank for Banks - Southwest is in the top 6% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Exhibit 99.1 Banc of California, Inc. Reports Fourth Quarter Diluted Earnings per Share of $0.28, Reflecting Strong Year-Over-Year Net Interest Margin Expansion and Lower Noninterest Expenses Company Release – 1/23/2025 LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) ("Banc of California" or the "Company"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the fourth quarter and year ended December 31, 2024. The Co ...

Core Viewpoint - Banc of California (BANC) is expected to report quarterly earnings of $0.23 per share, reflecting a 150% increase year-over-year, with revenues projected at $273.08 million, a 41.5% increase from the previous year [1]. Earnings Projections - The consensus EPS estimate for the quarter has been revised upward by 0.9% over the past 30 days, indicating analysts have reassessed their projections [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Key Metrics Estimates - Analysts project that 'Average Balance - Total interest-earning assets' will reach $30.96 billion, down from $35.42 billion reported in the same quarter last year [5]. - The estimate for 'Total Non-performing loans' is $165.06 million, significantly higher than the year-ago figure of $74.28 million [5]. - The estimated 'Total Non-performing assets' stands at $174.39 million, compared to $81.67 million reported in the same quarter last year [6]. - Analysts predict 'Net Interest Income' will be $238.86 million, up from $151.05 million a year ago [6]. Stock Performance - Banc of California shares have increased by 4.9% over the past month, contrasting with a -0.4% change in the Zacks S&P 500 composite [7]. - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to closely follow overall market performance in the near term [7].

Core Viewpoint - Banc of California (BANC) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of changing earnings estimates in determining stock price movements, with a strong correlation observed between earnings estimate revisions and near-term stock performance [4][6]. - Banc of California is projected to earn $0.70 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 141.7% [8]. Analyst Behavior and Market Dynamics - Individual investors may struggle with subjective rating upgrades from Wall Street analysts, but the Zacks rating system provides a more objective measure based on earnings outlook [2][5]. - Institutional investors play a role in stock price movements by adjusting their valuations based on earnings estimates, leading to significant buying or selling activity [4]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7]. - Banc of California's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

Core Viewpoint - The market anticipates Banc of California (BANC) will report a year-over-year increase in earnings driven by higher revenues for the quarter ending December 2024, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The earnings report is expected on January 23, 2025, with a consensus EPS estimate of $0.23, reflecting a 150% increase year-over-year. Revenues are projected at $273.08 million, a 41.5% increase from the previous year [3]. - The consensus EPS estimate has been revised 0.93% higher in the last 30 days, indicating a collective reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -5.17%, indicating a bearish outlook from analysts [10][11]. - Despite the negative Earnings ESP, Banc of California holds a Zacks Rank of 2, complicating predictions of an earnings beat [11]. Historical Performance - In the last reported quarter, Banc of California exceeded the expected EPS of $0.14 by delivering $0.25, resulting in a surprise of +78.57%. However, the company has only beaten consensus EPS estimates once in the last four quarters [12][13]. Conclusion - While the company may not be a strong candidate for an earnings beat, investors should consider other factors influencing stock performance ahead of the earnings release [16].

Group 1 - The article discusses the analysis of oil and gas companies, focusing on identifying undervalued names in the sector, including a detailed examination of balance sheets, competitive positions, and development prospects [1] - A recent rescue plan involving a $400 million injection has been highlighted, with the Banc of California (NYSE: BANC) being identified as a survivor in this situation [2] - The oil and gas industry is characterized as a boom-bust, cyclical industry, requiring patience and experience for successful investment [2] Group 2 - The article emphasizes the importance of thorough analysis and understanding of the companies involved in the oil and gas sector for potential investment opportunities [1] - The author has a beneficial long position in the shares of Banc of California, indicating a personal investment interest in the company [3]

Financial Position - As of September 30, 2024, the company had total assets of $33.4 billion, a decrease of $5.1 billion from $38.5 billion at December 31, 2023[220] - Total loans and leases amounted to $23.6 billion, down from $25.6 billion at the end of 2023, reflecting a decrease of $2.1 billion[220] - Total liabilities were $29.9 billion, a reduction of $5.2 billion from $35.1 billion at December 31, 2023, primarily due to a $3.6 billion decrease in deposits[220] - The company reported total stockholders' equity of $3.5 billion at September 30, 2024, an increase from $3.4 billion at December 31, 2023[220] Mergers and Acquisitions - The merger with PacWest Bancorp was completed on November 30, 2023, with an all-stock transaction valued at approximately $663 million[222] - Goodwill resulting from the merger was recorded at $216.8 million[222] - The company raised $400 million in equity capital concurrent with the merger[222] Asset Management - The company completed the sale of $1.95 billion of Civic business-purpose residential loans, generating net proceeds of $1.91 billion[221] - The company sold assets totaling $6.1 billion and paid down $8.6 billion of high-cost liabilities as part of its balance sheet repositioning strategy following the merger[223] - The company sold $742 million of securities with a weighted average yield of 2.94%, resulting in a pre-tax loss of $60 million, while purchasing $724 million of similar quality securities with a yield of 5.65%[223] Income and Earnings - The adjusted net earnings available to common stockholders for Q3 2024 was $4.53 million, compared to a loss of $181.95 million in the same period last year[232] - The return on average tangible common equity for Q3 2024 was 0.70%, down from 3.13% in the previous year[233] - Net interest income for the three months ended September 30, 2024, was $232,175 thousand, compared to $229,488 thousand for the previous quarter, indicating a slight increase[238] - Adjusted net earnings available to common and equivalent stockholders were $41,414 thousand, a significant recovery from a loss of $25,065 thousand in the same period last year[236] Credit Quality - The provision for credit losses is based on the allowance methodology, reflecting historical experience and economic forecasts, with an emphasis on maintaining credit quality[226] - The provision for credit losses was $9.0 million for Q3 2024, down from $11.0 million in Q2 2024, driven by increases in qualitative reserves for office property loans[252] - The allowance for credit losses at quarter-end was $281.9 million, reflecting a slight increase from $275.3 million in the previous quarter[252] Deposits and Liquidity - Total deposits as of September 30, 2024, were $26,828,269,000, a decrease of $3,573,500,000 from $30,401,769,000 as of December 31, 2023[285] - Noninterest-bearing checking accounts increased to $7,811,796,000, representing 29% of total deposits, up from 26% in the previous period[285] - Available liquidity was $16.2 billion at September 30, 2024, exceeding uninsured and uncollateralized deposits of $6.7 billion, with a coverage ratio of 241%[286] Interest Rate Risk - Interest rate risk is the primary market risk for the company, with ongoing monitoring and management of interest rate sensitivity through established asset/liability committees[316] - The company utilizes a balance sheet simulation model to estimate changes in net interest income and economic value of equity due to interest rate fluctuations[315] - As of September 30, 2024, the company's interest rate risk profile is classified as "liability sensitive," indicating a potential compression in net interest income with rising short-term interest rates[318] Noninterest Income and Expenses - Noninterest income for Q3 2024 decreased by $45.2 million to a loss of $15.5 million, primarily due to a $59.9 million loss on the sale of securities[256] - Total noninterest expense for Q3 2024 decreased by $7.4 million to $196.2 million, mainly due to lower insurance and assessments expense[260] - Noninterest expense for the nine months ended September 30, 2024, decreased by $1.5 billion to $610.4 million compared to $2.1 billion for the same period in 2023, largely due to a $1.4 billion goodwill impairment recorded in 2023[261] Loan Portfolio - The loan and lease portfolio totaled $23,527,777 thousand, with real estate mortgage comprising 56% of the total[270] - Total loans and leases held for investment decreased to $23.5 billion as of September 30, 2024, down from $25.5 billion at December 31, 2023[296] - The company reported a net decrease in loans and leases held for investment of $1,961,910 thousand for the nine months ended September 30, 2024[273] Capital Ratios - The Tier 1 leverage capital ratio was 9.83% as of September 30, 2024, up from 9.00% at December 31, 2023, exceeding the minimum required ratio of 4.00%[300] - The CET1 capital ratio increased to 10.46% as of September 30, 2024, compared to 10.14% at December 31, 2023, surpassing the minimum required ratio of 4.50%[300] - Total capital ratio improved to 17.00% as of September 30, 2024, from 16.43% at December 31, 2023, well above the minimum required ratio of 8.00%[300]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, leveraging established price movements for profitable trades [1] Group 1: Company Overview - Banc of California (BANC) currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [1] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [2] Group 2: Price Performance - BANC shares have increased by 4.76% over the past week, outperforming the Zacks Banks - Southwest industry, which rose by 2.58% during the same period [3] - Over the last quarter, BANC shares have risen by 9.37%, and over the past year, they have increased by 42.5%, compared to the S&P 500's gains of 4.71% and 39.26%, respectively [3] Group 3: Trading Volume - The average 20-day trading volume for BANC is 2,126,974 shares, which serves as a bullish indicator when combined with rising stock prices [3] Group 4: Earnings Outlook - In the past two months, one earnings estimate for BANC has increased while two have decreased, leading to a consensus estimate rise from $0.62 to $0.63 [4] - For the next fiscal year, three estimates have moved upwards while two have been revised downwards [4]