Banc of California

Banc of California, Inc. is a holding company engaged in the provision of commercial banking services. It offers personal banking, business and commercial banking, real estate banking, and private banking. The company was founded in 1941 and is headquartered in Santa Ana, CA.

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Banc of California reports record earnings, eyes growth opportunities ahead

Banc of California's Q4 2022 performance showcased record net income and a focus on credit quality and deposit base growth for 2023.
Despite challenges like lower loan fundings and decreased non-interest income, the company's strong balance sheet and strategic initiatives position it well for future growth.
Opportunities in various sectors and the pursuit of a comprehensive payments ecosystem signal a forward-looking approach to drive profitability and market presence.

Banc of California reports solid Q1 earnings amidst margin challenges

Banc of California navigated Q1 2023 with resilience, showcasing stability, strong metrics, and a commitment to shareholder value through increased capital return.
While facing challenges like margin pressure from excess liquidity, the bank is strategically reducing expenses and investing in growth opportunities like the new payments processing business.
With a focus on maintaining stable deposits, managing interest rate risks, and optimizing capital allocation, Banc of California is poised for continued growth and value creation.

Banc of California and PacWest merger to boost EPS in 2024, focusing on fee revenue growth opportunities

Banc of California and PacWest merger set to create a premier California banking franchise. Strategic initiatives and expense savings target to enhance profitability. Technology integration and fee revenue growth opportunities in the payments business. Conservative growth projections due to economic conditions.

Banc of California posts robust Q3 results, eyes growth opportunities

Banc of California's Q3 performance was strong, with a focus on growth, regulatory approvals, and strategic mergers. While challenges exist in credit provisions and margin expectations, the bank is well-positioned to capitalize on opportunities in cost savings, new client acquisitions, and improved lending activity. By emphasizing tailored solutions and efficient services, Banc of California aims to drive growth and strengthen its market position.

Banc of California reports strong Q1 performance post-merger

Banc of California's Q1 performance showcased progress post-merger, with a focus on profitability targets and credit management. While facing challenges in asset size targets and credit quality, the company's strengths in deposit gathering and expense management position them well for growth. Opportunities in improving asset yield, capital targets, and talent acquisition pave the way for future success.

Banc of California reports strong Q2 performance and growth strategies

Banc of California's Q2 performance reflects successful strategic initiatives driving profitability.
The bank's focus on repositioning, tech investments, and expense reduction highlights a path to sustained growth.
Challenges from market uncertainty are being addressed through ongoing optimization efforts.
Opportunities for growth and efficiency improvements are being pursued to enhance overall performance.

Banc of California excels in balance sheet transformation and growth

Banc of California's Q3 performance reflects successful balance sheet transformation and efficient expense management.
The company's focus on external growth and optimizing the balance sheet positions it for future expansion.
Challenges include managing margins in a changing rate environment and balancing capital priorities for growth.
Opportunities lie in further optimizing the balance sheet, exploring capital priorities, and maintaining revenue stability.

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NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3, and also assigns a preferred stock rating of BB for Banc of California, Inc. (NYSE: BANC). Additionally, KBRA affirms the deposit and senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for Pacific Western Bank, which will be renamed and operate as Banc of California,.

KBRA Affirms Ratings for Banc of California, Inc. and Withdraws Ratings for PacWest Bancorp

Banc of California, Inc. has merged with PacWest and received a $400 million investment, aiming to reposition the organization on an investment grade pathway. Successful turnarounds often yield decent dividends, making this a choice for those retiring in the future. The Federal Reserve's strategy for distressed banks is likely to improve the future of the merged entity.

Banc of California: United We Will Likely Get More Dividends

LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) has designated Los Angeles as its new headquarters and has contributed $1 million to help small businesses thrive, CEO Jared Wolff announced today at a joint press conference with Los Angeles Mayor Karen Bass. “As a native Angeleno, I know the power and promise of Los Angeles and the entrepreneurs and businesses that make it great,” said Wolff. “As California's leading business bank, we are designating Los Angeles as our headqu.

Banc of California Designates Los Angeles as Headquarters and Donates $1 Million to Expand Financing Options for Small Businesses

LOS ANGELES--(BUSINESS WIRE)--Members of the media are invited to a press conference with Los Angeles Mayor Karen Bass, Banc of California CEO Jared Wolff, and other local leaders on Tuesday, Dec. 5. Banc of California will announce a major donation and significant business decision. These announcements follow the successful Nov. 30 close of its transformational merger with PacWest Bancorp. The combined company is now the third-largest bank based in California and one of the nation's premier re.

Press Conference with Los Angeles Mayor Karen Bass and Banc of California on Dec. 5

Banc of California (BANC) completes the acquisition of PacWest Bancorp. The all-stock deal, announced in July, will serve the banking needs of small and medium-sized businesses in California.

Banc of California (BANC) Closes Buyout of PacWest Bancorp

PacWest Bancorp

LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) today announced the completion of its transformational merger with PacWest Bancorp (“PacWest”) (Nasdaq: PACW), pursuant to which PacWest has merged into Banc of California, and as of December 1, 2023, Banc of California, N.A. will have merged into Pacific Western Bank (the “combined bank”). The combined bank will operate under the Banc of California name and brand. Concurrent with the completion of the me.

Banc of California Announces Completion of Transformational Merger with PacWest Bancorp and $400 Million Equity Raise

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PacWest (PACW) and Banc of California (BANC) receive shareholder approval for their merger deal. The transaction is expected to close on or around Nov 30, 2023, as planned.

PacWest (PACW)-Banc of California (BANC) Deal Gets Shareholder Nod

SANTA ANA, Calif. & LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) and PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today jointly announced that, at their respective special meetings of stockholders held earlier today, they each received the necessary stockholder approval for the proposed combination of Banc of California and PacWest. The final results for the proposals voted on at the special meetings of each company's stockholders held today will be s.

Banc of California and PacWest Bancorp Receive Stockholder Approvals for their Merger

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC), today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share on its outstanding common stock. The dividend will be payable on January 2, 2024 to stockholders of record as of December 15, 2023. Banc of California maintains a Dividend Reinvestment Plan (DRIP) which allows stockholders to automatically acquire shares at a 3% discount from the applicable market price. All registered s.

Banc of California Announces Quarterly Dividend

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) today announced the appointments of Todd Schell, a principal of Warburg Pincus LLC, and John M. Eggemeyer, Paul R. Burke, and Susan E. Lester, each directors of PacWest Bancorp (“PacWest”), to the board of directors of Banc of California (the “Board”), with Mr. Eggemeyer to serve as Chairman of the Board, effective as of and contingent upon the closing of the anticipated merger with PacWest. The mer.

Banc of California Announces Appointments of Four Directors to its Board of Directors in Connection with its Merger with PacWest Bancorp

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of PacWest Bancorp (NasdaqGS: PACW) to Banc of California, Inc. (NYSE: BANC). Under the terms of the proposed transaction, shareholders of PacWest will receive 0.84 shares of Banc of California for each share of PacWest that they own. KSF is seeking to determine whether this consideration and the process that led.

PACWEST BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of PacWest Bancorp - PACW

Banc of California and Pacific Western Bank are merging, creating a combined company with over 70 branches in California. The merger is a lifeline for PacWest, but at the same time, unlocks great potential for the combined company. At current prices, both the common stocks and also PACWP offer decent upside while being protected on the downside by high tangible equity.

PacWest And Banc of California: Merger Will Likely Unlock More Potential

Banc of California, Inc. (NYSE:BANC ) Q3 2023 Earnings Conference Call October 24, 2023 1:00 PM ET Company Participants Jared Wolff - President and Chief Executive Officer Joseph Kauder - Chief Financial Officer Bill Back - Head of Strategy for PacWest Conference Call Participants Timur Braziler - Wells Fargo Matthew Clark - Piper Sandler Gary Tenner - DA Davidson Kelly Motta - KBW Andrew Terrell - Stevens David Feaster - Raymond James Operator Hello and welcome to Bank of California's Third Quarter Earnings Conference Call. [Operator Instructions] This call is being recorded and copy of the recording will be available later today on the company's investor relations website.

Banc of California, Inc. (BANC) Q3 2023 Earnings Call Transcript

Banc of California (BANC) came out with quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.44 per share a year ago.

Banc of California (BANC) Q3 Earnings Lag Estimates

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (“Banc of California”) today reported net income of $42.6 million, or $0.74 per diluted common share, for the third quarter of 2023. This compares to net income of $17.9 million, or $0.31 per diluted common share for the second quarter of 2023. On an adjusted basis, net income was $17.1 million for the quarter, or $0.30 per diluted common share.(1) This compares to adjusted net income of $18.4 million, or $0.32 per dilute.

Banc of California Reports Net Income of $42.6 million, with Stable Deposit Mix and Improved Net Interest Margin in Third Quarter 2023 Financial Results

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) and PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today announced that the Board of Governors of the Federal Reserve System granted its approval of the previously announced combination of Banc of California and PacWest and their respective bank subsidiaries, Banc of California, N.A. and Pacific Western Bank. In addition, on October 5, 2023, the California Department of Financial Protection and Innovati.

Banc of California Receives Final Regulatory Approval for its Merger with PacWest Bancorp

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced it will release 2023 third quarter financial results before the stock market opens on Tuesday, October 24, 2023. A conference call will be held that same day at 10:00 a.m. Pacific Time (PT) to review financial results. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 5886712. A live audio webcast will also be available on the Webcasts page of.

Banc of California Announces Schedule of Third Quarter 2023 Earnings Release and Conference Call

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Banc of California Inc. BANC, -2.58% said Tuesday it will run a $4.1 billion, three-year community lending program with Rise Economy, which was formerly called California Reinvestment Coalition (CRC). The Santa Ana, Calif.

Banc of California crafts $4.1B community lending program as it merges with PacWest

SANTA ANA, Calif. & SAN FRANCISCO--(BUSINESS WIRE)--Banc of California, N.A. (“Banc of California”), a wholly-owned subsidiary of Banc of California, Inc. (NYSE: BANC) and Rise Economy announced today a $4.1 billion, three-year Community Benefits Plan (the “Plan”). Banc of California and Rise Economy (formerly the California Reinvestment Coalition) leaders worked collaboratively to develop the expansive plan in connection with Banc of California's transformational merger with Pacific Western Ba.

Banc of California and Rise Economy Announce $4.1 Billion Community Benefits Plan

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SAN DIEGO--(BUSINESS WIRE)---- $BANC #BancofCalifornia--PacWest Bancorp (PACW) Misled Investors Regarding the Impact of Interest Rate Hikes on Pacific Western Bank.

Shareholder Alert: Robbins LLP Informs Shareholders of Class Action Filed Against PacWest Bancorp (PACW)

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (the “Company”) announced today that Debora Vrana has joined its wholly owned subsidiary, Banc of California, N.A. (the “Bank”), California's premier relationship-focused business bank, in the newly created role of Executive Vice President and Chief Communications Officer. She will also join the Bank's senior management committee and sit on the board of the Bank's philanthropic foundation. Ms. Vrana, who joined on Septemb.

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