Banc of California posts Q1 net income of $28.2M, net interest margin expands 109 bps to 2.78%

BANC OF CALIFORNIA, INC.

2024-Q1 EPS reported $0.12 revenue$512,520,000

Net earnings available to common $28.2M ($0.17 diluted EPS); adjusted EPS $0.19 excluding FDIC special assessment.
Net interest income $239.1M (+58% QoQ); net interest margin 2.78%, up from 1.69% in Q4.
Noninterest expense declined to $210.5M (ex-merger costs) from $251.8M in Q4 due to lower FDIC assessment and no merger costs.
Nonperforming loans rose to $146M (0.57% of loans) from $62.5M, driven by four CRE credits; allowance for credit losses 1.26%.
Total deposits $28.9B, down $1.5B; noninterest-bearing deposits increased to 27% of total; liquidity $16.8B.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANC OF CALIFORNIA, INC. reported first quarter ended March 31, 2024 results: net income $28.2 million, or $0.17 per diluted common share, EPS $0.17 per diluted common share.

Period: first quarter ended March 31, 2024
Net income: $28.2 million, or $0.17 per diluted common share
EPS: $0.17 per diluted common share
Result: reported results

Exact text from the filing

The Company recorded net earnings available to common and equivalent stockholders of $28.2 million, or $0.17 per diluted common share, for the first quarter of 2024.

View on SEC.gov

1341 earnings releases filed in the last 30 days. Browse all earnings releases →

BANC OF CALIFORNIA, INC. filing history →

Source: SEC EDGAR

accession 0001140361-24-021153

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.