secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2022-10-20T23:59:59+00:00
Accession:  0001169770-22-000047
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000047/0001169770-22-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000047/banc-20221020.htm
  HTML page:      https://secwatch.observer/filing/0001169770-22-000047

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