Banc of California (BANC) came out with a quarterly loss of $0.46 per share versus the Zacks Consensus Estimate of a loss of $0.32. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -43.75%. A quarter ago, it was expected that this banking service and lending company would post earnings of $0.31 per share when it actually produced earnings of $0.30, delivering a surprise of -3.23%.Over the last ...

LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC): $38.5B Total Assets $17.12 Book Value Per Share $14.96 Tangible Book Value Per Share(1) 10.12% CET1 Ratio 26% Noninterest-Bearing Deposits Banc of California, Inc. (NYSE: BANC) (“Banc of California”), parent of wholly-owned subsidiary Banc of California (the “Bank”), today reported financial results for the fourth quarter and year ended December 31, 2023. On November 30, 2023, Banc of California and PacWest Bancorp clo ...

Wall Street analysts expect Banc of California (BANC) to post quarterly loss of $0.32 per share in its upcoming report, which indicates a year-over-year decline of 171.1%. Revenues are expected to be $156.8 million, up 99% from the year-ago quarter.Over the last 30 days, there has been an upward revision of 3.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timef ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------| | | ...

Banc of California, Inc. (NASDAQ:PACW) Q3 2023 Results Conference Call October 24, 2023 10:00 AM ET Company Participants Jared Wolff - Chairman, President and Chief Executive Officer Joe Kauder - Chief Financial Officer Bill Black - Head of Strategy, PacWest Conference Call Participants Timur Braziler - Wells Fargo Matthew Clark - Piper Sandler Gary Tenner - D.A. Davidson Kelly Motta - KBW Andrew Terrell - Stephens David Feaster - Raymond James Operator Hello, and welcome to Banc of California's Third Quart ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------| | | | For ...

Banc of California, Inc. (NYSE:BANC) Q2 2023 Earnings Call Transcript July 26, 2023 12:00 PM ET Company Participants Jared Wolff - President and Chief Executive Officer Joseph Kauder - Chief Financial Officer Paul Taylor - President and Chief Executive Officer of PacWest Kevin Thompson - EVP, Chief Financial Officer of PacWest Conference Call Participants Matthew Clark - Piper Sandler Christopher McGratty - KBW Andrew Terrell - Stephens Gary Tenner - D.A. Davidson Timothy Coffey - Janney Kelly Motta - KBW T ...

www.bancofcal.com Investor Presentation 2023 Second Quarter Earnings FORWARD LOOKING STATEMENTS When used in this report and in documents filed with or furnished to the Securities and Exchange Commission (the “SEC”), in press releases or other public stockholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases “believe,” “will,” “should,” “will likely result,” “are expected to,” “will continue,” “is anticipat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------| | | | Fo ...

Financial Data and Key Metrics Changes - Net income for Q1 2023 was $20.3 million or $0.34 per diluted share, with adjusted net income at $21.7 million or $0.37 per diluted share, down from $26.8 million or $0.45 per diluted share in the previous quarter [18] - Net interest margin decreased by 28 basis points to 3.41%, while overall earning asset yield increased by 20 basis points to 4.99% [18] - Average loan yield increased by 15 basis points to 5.07%, and average cost of deposits rose by 43 basis points to 122 basis points [19] Business Line Data and Key Metrics Changes - Total loans decreased by approximately $61 million, primarily due to three loan payoffs in the C&I portfolio [22] - Non-interest income increased by $9.3 million from the prior quarter, driven by a recovery on a loan acquired and higher income from equity investments [20] - Non-interest expense increased by approximately $800,000, mainly due to higher salaries and benefits [21] Market Data and Key Metrics Changes - Total assets increased by approximately 9% to $10 billion, reflecting an increase in liquidity [22] - Total deposits decreased by $169 million, primarily due to outflows in January and February, but increased since mid-March [23] - Delinquent loans declined by $19 million or 20%, indicating stable credit quality [23] Company Strategy and Development Direction - The company aims to maintain strong capital levels while focusing on prudent risk management amid challenging economic conditions [25] - Plans to enhance the value proposition through a new payments processing business expected to onboard clients in the second half of the year [26] - The company is positioned to capitalize on market disruptions, focusing on relationship-oriented business clients and attractive lending opportunities [25][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the franchise and the ability to attract new clients amid recent banking turmoil [6][25] - The outlook remains cautious, with expectations of low single-digit loan growth and a focus on optimizing earnings and shareholder value [44] - Management noted that the current environment is temporary, and they expect to emerge stronger by building on fundamental strengths [26] Other Important Information - The company repurchased approximately 1% of its common shares and increased its quarterly cash dividend by 67% [14] - The allowance for credit losses at the end of Q1 totaled $89.4 million, with a coverage ratio of 1.27% [24] - The company has significant excess liquidity, with cash balances reaching approximately $1 billion at quarter end [20] Q&A Session Summary Question: Competitive landscape in California post-bank failures - Management noted a strong inflow of core deposits and a solid pipeline, emphasizing the importance of safety and depositor confidence in the current environment [30][31] Question: Loan and deposit ratio dynamics - Management indicated comfort with the current loan-to-deposit ratio around 100%, with new lending opportunities being funded primarily through core deposits [34][36] Question: Consolidation activity in California - Management believes it is early to predict consolidation trends but sees potential benefits from smaller banks seeking scale [39][40] Question: Lending appetite and risk-adjusted returns - Management stated that they could shrink the loan portfolio if attractive risk-adjusted returns are not available, focusing on optimizing earnings [42][44] Question: New commercial accounts and non-interest bearing balances - Management highlighted the importance of sophisticated treasury management solutions in attracting new clients and maintaining non-interest bearing balances [46][50] Question: Interest rate risk management - Management discussed a recent $300 million hedge to manage rate sensitivity, indicating a rate-neutral position currently [51][54]