secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2022-04-21T23:59:59+00:00
Accession:  0001169770-22-000028
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banc of California Q1 2022 EPS $0.69 vs $0.07 prior; net income $48.5M
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- Diluted EPS $0.69, net income $48.5M; prior quarter EPS $0.07, net income $5.8M.
- Net interest margin 3.51%, up 23 bps QoQ; net interest income $76.4M, up $3.4M.
- Provision reversal of $31.5M driven by $31.3M recovery from settlement of loan charged off in 2019.
- Loans held for investment up $200.1M to $7.45B; total deposits $7.48B, noninterest-bearing 40%.
- Redeemed all Series E Preferred Stock for $98.7M; repurchased $4.3M stock, $70.7M remaining under buyback.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000028/0001169770-22-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000028/banc-20220421.htm
  HTML page:      https://secwatch.observer/filing/0001169770-22-000028

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