secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2021-10-21T23:59:59+00:00
Accession:  0001169770-21-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banc of California reports Q3 net income $23.2M, EPS $0.42; completes Pacific Mercantile acquisition
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- Net income $23.2M, diluted EPS $0.42; net interest margin 3.28%, ROAA 1.13%.
- Total loans ex-PPP grew 16% annualized; total deposits up $337M to $6.54B.
- Noninterest-bearing deposits rose to 32% of total deposits (from 29% prior quarter).
- Completed acquisition of Pacific Mercantile Bancorp on Oct 18 for $225.4M (11.86M shares issued).
- Provision for credit losses reversed $1.1M; allowance 1.26% of total loans, 173% of NPLs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000116977021000034/0001169770-21-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000116977021000034/banc-20211021.htm
  HTML page:      https://secwatch.observer/filing/0001169770-21-000034

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