secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001104659-24-006465
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banc of California Q4 net loss $492.9M on $442M securities loss, $112M merger costs
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- Net loss of $492.9M ($4.55 diluted loss) vs Q3 loss $33.3M; includes $442.4M loss on security sales, $111.8M merger costs, $32.7M FDIC assessment.
- Total assets $38.5B, deposits $30.4B (up $3.8B QoQ), loans $25.5B (up $3.6B) from PacWest merger closed Nov 30, 2023.
- Tangible book value per share $14.96; CET1 ratio 10.12%, total risk-based capital 16.40%, all above 'well capitalized' thresholds.
- Net interest margin 1.69% for Q4, improved to 2.15% in December; spot NIM at year-end 2.75%.
- Nonperforming loans to total loans 0.29% (down from 0.57% QoQ); allowance for credit losses 1.22%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000110465924006465/0001104659-24-006465-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000110465924006465/tm244079d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-006465

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer