Banc of California Reports Q3 2022 Net Income of $24.2M, Completes Deepstack Acquisition

BANC OF CALIFORNIA, INC.

Net income $24.2M ($0.40 diluted EPS) vs $26.7M in Q2 2022; adjusted EPS $0.44.
Noninterest-bearing deposits grew $117M to 40% of total deposits, up from 37.4% in prior quarter.
Completed acquisition of Deepstack Technologies on Sept 15, 2022 for $24M in cash and stock.
Repurchased $13M of common stock in Q3; year-to-date $63.7M through Oct 18.
Net interest margin steady at 3.58%; no provision for credit losses.

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