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

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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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D.A. Davidson on Monday upgraded PacWest Bancorp PACW, -1.90% to buy from neutral to bring it up to the same rating as upcoming acquirer, Banc of California BANC, -2.49%, as announced last week. “We think that transaction is beneficial to shareholders of both companies, and accelerates the recovery of value for PACW shareholders in the wake of the March bank liquidity crisis,” D.A.

PacWest draws upgrade to buy from neutral after Banc of California deal

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 Timur Braziler - Wells Fargo David Feaster - Raymond James Operator Hello, and welcome to the conference call to discuss Banc of California and PacWest Merger and Second Quarter Earnings.

Banc of California, Inc. (BANC) Q2 2023 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Banc of California, Inc. (NYSE: BANC). Additionally, KBRA affirms the senior unsecured debt and deposit ratings of BBB+, the subordinated debt rating of BBB, and the short-term debt and deposit ratings of K2 for its subsidiary, Banc of California, N.A. The Outlook for BANC's long-term ratings is Stable. KBRA also maintains its Watch Deve.

KBRA Affirms Ratings for Banc of California, Inc. and Maintains Watch Developing Status for PacWest Bancorp

JPMorgan Chase & Co

JPMorgan Chase & Co (NYSE:JPM) will acquire $1.8 billion of single-family residential loans to assist Banc of California (NYSE:BANC)'s acquisition of PacWest Bancorp, according to Reuters, citing an insider familiar with the deal. The merger between Banc of California and PacWest, supported by a $400 million equity infusion from Warburg Pincus and Centerbridge Partners, will establish a bank with $36 billion in assets.

JPMorgan Chase will reportedly pick up $1.8bn of loans following US regional bank merger

Banc of California Inc.'s proposed agreement to acquire PacWest Bancorp. helped send regional-bank stocks considerably higher on Wednesday.

Banc of California is expected to keep leading regional banks higher as PacWest deal ignites sector

Imperiled bank PacWest shares soared in early trade on Wednesday after news of its merger with smaller rival Banc of California in a $1.1 billion all-stock deal.

PacWest Shares Soar After Merger with Rival Banc of California

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Banc of California, Inc. (NYSE: BANC) and PacWest Bancorp is fair to Banc of California shareholders. Upon completion of the proposed transaction, Banc of California shareholders are expected to own approximately 34% of the combined company. Halper Sadeh encourages Banc of California shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh.

BANC Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Banc of California, Inc. Is Fair to Shareholders

PacWest Bancorp's stock held on to big gains on Wednesday after it announced it has agreed to be acquired in an all-stock deal by Banc of California Inc. Analysts mostly praised the transaction.

PacWest's sale to Banc of California ‘provides closure' and is a win for shareholders: analyst

The merger of PacWest and Banc of California will actually help shrink the assets of the combined lenders.

California Banks Merge to Get Smaller

In a significant development in the banking sector, Banc of California (NYSE:BANC) and PacWest Bancorp have announced their intention to merge, forming a new entity with assets totalling $36 billion. The move comes in the wake of a turbulent period for regional banks, and the merger is seen by some as a strategic response to these challenges.

Banc of California and PacWest Bancorp deal well received by the market

PacWest (PACW) and Banc of California (BANC) announce an all-stock merger deal.

PacWest (PACW) & Banc of California (BANC) Soar on Merger Deal

Banc of California and PacWest Bancorp shares surged after announcing an all-stock merger. The new bank will have $36 billion in assets and $30.5 billion in total deposits.

Banc of California and PacWest Bancorp will merge into a new bank holding $36 billion in assets

Although the revenue and EPS for Banc of California (BANC) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Banc of California (BANC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Stocks rose on Tuesday. Regional bank stocks climbed as PacWest and Banc of California announced merger plans.

Why These 2 Bank Stocks Are Soaring Late Tuesday

Banc of California (BANC) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.45 per share a year ago.

Banc of California (BANC) Q2 Earnings Beat Estimates

Banc of California and PacWest Bancorp will merge in an all-stock deal to create a bank with $36 billion in assets and The lenders also raised $400 million in equity from investors.

Banc of California and PacWest to merge, raise $400 million in equity

Banc of California will purchase the embattled PacWest, which was on somewhat precarious footing following the banking scare in March.

PacWest Bank Shares Fluctuate 30% Ahead Of Sale To Rival Banc Of California

PacWest Bancorp is set to merge with Banc of California in a $400 million equity deal, according to a joint announcement the banks released Tuesday afternoon, ahead of their second-quarter earnings results.

Banc of California set to merge with rival PacWest

Banc of California is in advanced talks to buy PacWest Bancorp, the WSJ reported Tuesday ahead of the banks' earnings. PACW stock dove, BANC rallies.

PACW Stock Dives On PacWest Buyout Deal Ahead Of Earnings, Banc Of California Leaps

Banc of California and PacWest Bancorp on Tuesday announced an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners.

PacWest merges with Banc of California in all-stock deal

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today reported net income of $17.9 million, or $0.31 per diluted common share, for the second quarter of 2023. This compares to net income of $20.3 million, or $0.34 per diluted common share for the first quarter of 2023. On an adjusted basis, net income was $18.4 million for the quarter, or $0.32 per diluted common share.(1) This compares to adjusted net income of $21.7 million, or $0.37 per diluted common share, for the.

Banc of California Reports Solid Earnings and Stable Deposits in Second Quarter 2023 Financial Results

SANTA ANA, Calif. & BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) and PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today announced the signing of a definitive agreement pursuant to which the companies will combine in an all-stock merger transaction. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, PacWest will merge into Banc of California, and Banc of California, N.A. will merge i.

Banc of California and PacWest Announce Transformational Merger and $400 Million Equity Raise from Warburg Pincus and Centerbridge

Combination will create California's premier relationship-focused business bank Combined $36 billion asset bank with extensive Southern CA footprint to be headquartered in Los Angeles 20%+ accretion to BANC's 2024 Estimated EPS and immediately 3% accretive to TBVPS $400 million equity raise is fully committed after extensive investor due diligence Robust capital at 10%+ pro forma CET1; hedges and forward sales lock in a strong and liquid balance sheet at close $13 billion of wholesale borrowings to be repaid, resulting in a

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