secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001169770-23-000042
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 Q1 net income $20.3M ($0.34 EPS); deposits down 2%, dividend raised 67%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000116977023000042/0001169770-23-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000116977023000042/banc-20230420.htm
  HTML page:      https://secwatch.observer/filing/0001169770-23-000042

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