---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-021153"
form_type: "8-K"
ticker: "BANC"
cik: "0001169770"
company_name: "BANC OF CALIFORNIA, INC."
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T11:25:47.461482+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-24-021153
- form_type: 8-K
- ticker: BANC
- cik: 0001169770
- company_name: BANC OF CALIFORNIA, INC.
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1169770/000114036124021153/0001140361-24-021153-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1169770/000114036124021153/ef20027444_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-021153
- JSON: https://secwatch.observer/filing/0001140361-24-021153.json
- Plain text: https://secwatch.observer/filing/0001140361-24-021153.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1169770/000114036124021153/0001140361-24-021153-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.