secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2022-01-25T23:59:59+00:00
Accession:  0001169770-22-000002
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banc of California Q4 net income $5.8M ($0.07 EPS) includes $13.5M merger costs; PMB acquisition completed
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- Net income $5.8M ($0.07 diluted EPS) vs $23.2M ($0.42) in Q3; includes $13.5M pre-tax merger costs.
- Completed acquisition of Pacific Mercantile Bancorp on Oct 18, 2021 for $225.4M; added $1.54B assets.
- Adjusted pre-tax pre-provision ROAA increased to 1.39% from 1.34% in Q3; core earnings improved.
- Net interest margin flat at 3.28%; noninterest-bearing deposits rose to 37% of total deposits.
- Announced intention to redeem Series E Preferred Stock in H1 2022, subject to regulatory approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000002/0001169770-22-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000002/banc-20220125.htm
  HTML page:      https://secwatch.observer/filing/0001169770-22-000002

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