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

Earnings data Q3 2021

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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Banc of California (BANC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Banc of California (BANC) Moves to Strong Buy: Rationale Behind the Upgrade

Cullen/Frost Bankers

United Community Banks

Raymond James on Wednesday downgraded three bank stocks and upgraded one ahead of the first-quarter earnings season. Bright spots for banks include improving loan growth, potential expansion in net interest income as interest rates rise, and benign credit trends.

Raymond James tweaks ratings on Cullen/Frost Bankers, Banc of California, PCB Bancorp, United Community Banks

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced it will release 2022 first quarter financial results on Thursday, April 21, 2022. The Company will host a conference call to discuss its first quarter earnings at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 6630261. A live audio webcast will also be available on the Webcasts page of the Compa

Banc of California Announces Schedule of First Quarter 2022 Earnings Release and Conference Call

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (the “Company”), the holding company parent of Banc of California, N.A., today announced that its Board of Directors has authorized the repurchase of up to $75 million of the Company's common stock. “Our Board of Directors' decision to authorize this share buyback program reflects our continued commitment to optimizing our balance sheet and returning value to our shareholders,” said Jared Wolff, President and Chief Execut

Banc of California Announces $75 Million Stock Repurchase Program

Banc of California (BANC) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

How Banc of California (BANC) Stock Stands Out in a Strong Industry

LOS ANGELES, March 9, 2022 /PRNewswire/ -- Hawke Ventures, a Los Angeles-based technology-focused venture capital firm, raised $25M for their second venture fund, with prominent investors such as Banc of California; former LegalZoom executives Chris Welker & Dorian Quispe; CMO of Ruggable, Linda Lai; Maropost Ventures; Executive VP & Chief Administrative Officer of BLT Enterprises, Daniel Rosenthal; along with other notable names. Hawke Ventures was born out of Hawke Media in 2019, one of the fastest-growing digital marketing consultancies in the country.

Hawke Ventures, Venture Capital Arm to Hawke Media, Raises a Total of $25M in Second Venture Fund

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced that its wholly-owned subsidiary, Banc of California, N.A., California's leading relationship-focused business bank, has hired Matthew Grimes in the new position of SVP, ABL Leader. In this position, Grimes will be responsible for leading the bank's Asset Based Lending efforts. Grimes will report to Hamid Hussain, President, Real Estate and Commercial Banking. Mr. Hussain commented, “We are excited to have

Banc of California Hires Matthew Grimes as SVP, ABL Leader

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced that it will redeem on March 15, 2022 all of its outstanding 7.00% Non-Cumulative Perpetual Preferred Stock, Series E, par value $0.01 per share (the “Series E Preferred Stock”), and the corresponding depositary shares, each representing a 1/40th interest in a share of the Series E Preferred Stock (the “Series E Depositary Shares”). In addition, Banc of California announced that its Board of Directors has

Banc of California Announces Redemption of Series E Preferred Stock and Quarterly Dividends

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced that its wholly-owned subsidiary, Banc of California, N.A., California's leading relationship-focused business bank, has hired John Helgeson in the new position of Senior Director, Specialty Banking to focus on banking and lending to charter schools. In this position, Helgeson will be reporting to Patti Thompson-Derry, Market Executive for Banc of California's Healthcare, Education and Non-Profit Banking G

Banc of California Hires Education Finance Expert to Bolster Charter School Practice

Banc of California, Inc. (BANC) CEO Jared Wolff on Q4 2021 Results - Earnings Call Transcript

Banc of California (BANC) delivered earnings and revenue surprises of -20.69% and 4.30%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Banc of California (BANC) Lags Q4 Earnings and Revenue Estimates

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today reported net income of $5.8 million and net income available to common stockholders for the fourth quarter of 2021 of $4.0 million, or $0.07 per diluted common share. This compares to net income of $23.2 million and net income available to common stockholders of $21.4 million, or $0.42 per diluted common share, for the third quarter. The fourth quarter of 2021 included $13.5 million of pre-tax merger costs and $11.3

Banc of California Reports Fourth Quarter 2021 Financial Results

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced that its wholly-owned subsidiary, Banc of California, N.A., California's leading relationship-focused business bank, has hired Guillaume de Chalendar in the new position of SVP, Head of Media & Entertainment. In this position, de Chalendar will be responsible for the strategy and growth of Banc of California's Media & Entertainment vertical, which serves entrepreneurs, businesses, sponsors, operato

Banc of California Hires Guillaume de Chalendar as SVP, Head of Media & Entertainment

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced it will release financial results for the fourth quarter and fiscal year ended December 31, 2021 on Tuesday, January 25, 2022. The Company will host a conference call to discuss these financial results at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 7050527. A live audio webcast will also be a

Banc of California Announces Schedule of Fourth Quarter 2021 Earnings Release and Conference Call

Banc of California seems to be flying under the radar despite its decent size with over $8B in assets. The 9M 2021 profit was boosted by a reversal of loan loss provisions, although the total amount of loans past due is increasing.

Banc Of California: Solid Results But Pricey At 13X Earnings And 1.5 Times TBV

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 $0.06 per share on its outstanding common stock. The dividend will be payable on January 3, 2022 to stockholders of record as of December 15, 2021. 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 Dividends

Banc of California, Inc. (BANC) CEO Jared Wolff on Q3 2021 Results - Earnings Call Transcript

Banc of California (BANC) delivered earnings and revenue surprises of 46.15% and -1.80%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

Banc of California (BANC) Q3 Earnings Beat Estimates

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today reported net income of $23.2 million and net income available to common stockholders for the third quarter of 2021 of $21.4 million, or diluted earnings per common share of $0.42. Highlights for the third quarter included: Return on average assets of 1.13% Annualized loan growth, excluding PPP, of 16% Period-end total cost of deposits of 0.08%, a 12 basis point decrease from the end of the second quarter Average cos

Banc of California Reports Third Quarter 2021 Financial Results

Banc of California (NYSE:BANC) is set to give its latest quarterly earnings report on Thursday, 2021-10-21. Here's what investors need to know before the announcement.

Earnings Outlook For Banc of California

Pacific Mercantile Bancorp

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (the “Company” or “Banc of California”), the holding company of Banc of California, N.A. (the “Bank”), announced today the completion of its acquisition of Pacific Mercantile Bancorp (NASDAQ: PMBC) (“Pacific Mercantile”) effective as of October 18, 2021. Following the acquisition, Banc of California will have over $9 billion in total assets. The Company announces third quarter earnings on October 21, 2021. Jared Wolff, Pr

Banc of California Announces the Completion of its Acquisition of Pacific Mercantile Bancorp

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (the “Company”) and Pacific Mercantile Bancorp (NASDAQ: PMBC) (“Pacific Mercantile”) today announced that all required regulatory approvals for the mergers of Pacific Mercantile into the Company and Pacific Mercantile Bank into Banc of California, N.A. have been received. Subject to the satisfaction of the remaining closing conditions, the transaction is scheduled to close on or about October 18, 2021. With the addition o

Banc of California and Pacific Mercantile Bancorp Announce Receipt of Final Regulatory Approval

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced it will release 2021 third quarter financial results on Thursday, October 21, 2021. The Company will host a conference call to discuss its third quarter earnings at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 9764771. A live audio webcast will also be available on the Webcasts page of the Com

Banc of California Announces Schedule of Third Quarter 2021 Earnings Release and Conference Call

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (the “Company”), the holding company for Banc of California, N.A. (the “Bank”), today announced the appointment of Diana Hanson as Senior Vice President and Chief Accounting Officer of the Company and the Bank, effective Monday, August 16, 2021. Ms. Hanson succeeds Mike Smith, who resigned from the Company effective August 6, 2021. She will be based in Santa Ana and report to Lynn Hopkins, Executive Vice President and CFO

Banc of California Names Diana Hanson Senior Vice President and Chief Accounting Officer

CLEVELAND--(BUSINESS WIRE)-- #banking--Steven A. Sugarman Speaks at 74th Annual NAREB Convention on Expanding Black Homeownership

News for Banc of California Stock (BANC)