Banc of California Q1 net income $20.3M ($0.34 EPS); deposits down 2%, dividend raised 67%

BANC OF CALIFORNIA, INC.

2024-Q1 EPS reported -$15.56 revenue$554,179,000

GAAP EPS $0.34 vs $0.36 prior quarter; adjusted EPS $0.37 vs $0.45.
Net interest margin fell 28bp to 3.41% on higher funding costs; total deposits down 2% but uninsured deposits 27% of total.
Available liquidity $4.0B, 2.2x uninsured/collateralized deposits; $1.0B cash at quarter-end.
Capital ratios strong: CET1 11.66%, total risk-based 14.06%; dividend raised 67% to $0.10/share.
Repurchased $5.2M of stock in Q1 (additional $10M through Apr 12); book value per share $16.33.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BANC OF CALIFORNIA, INC. reported first quarter of 2023 results: net income $20.3 million, EPS $0.34 per diluted common share.

Period: first quarter of 2023
Net income: $20.3 million
EPS: $0.34 per diluted common share
Result: reported results

Exact text from the filing

Banc of California, Inc. (NYSE: BANC) today reported net income of $20.3 million, or $0.34 per diluted common share, for the first quarter of 2023.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

BANC OF CALIFORNIA, INC. filing history →

Source: SEC EDGAR

accession 0001169770-23-000042

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.