---
schema_version: "secwatch.filing_event.v1"
accession: "0001169770-23-000055"
form_type: "8-K"
ticker: "BANC"
cik: "0001169770"
company_name: "BANC OF CALIFORNIA, INC."
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T02:51:51.524261+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Banc of California Q2 net income $17.9M; merges with PacWest Bancorp with $400M capital raise

## Summary
- Net income $17.9M ($0.31 EPS); adjusted net income $18.4M ($0.32 EPS).
- Stable deposits: total deposits down ~1% QoQ to $6.87B; noninterest-bearing deposits 36% of total.
- Loan growth $101.8M (1% QoQ) driven by C&I and warehouse lending; total loans $7.16B.
- Entered into definitive merger agreement with PacWest Bancorp; committed $400M capital raise.
- Merger expected to be immediately accretive to tangible book value and 2024 estimated EPS.

## SEC filing metadata
- accession: 0001169770-23-000055
- form_type: 8-K
- ticker: BANC
- cik: 0001169770
- company_name: BANC OF CALIFORNIA, INC.
- filed_at: 2023-07-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1169770/000116977023000055/0001169770-23-000055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1169770/000116977023000055/banc-20230725.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001169770-23-000055
- JSON: https://secwatch.observer/filing/0001169770-23-000055.json
- Plain text: https://secwatch.observer/filing/0001169770-23-000055.txt

## Key facts
- Earnings Releases
  BANC OF CALIFORNIA, INC. reported the second quarter of 2023 results: net income $17.9 million, or $0.31 per diluted common share.
  - Period: the second quarter of 2023
  - Net income: $17.9 million, or $0.31 per diluted common share
  - Result: reported results
  source text: Banc of California, Inc. (NYSE: BANC) today reported net income of $17.9 million, or $0.31 per diluted common share, for the second quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1169770/000116977023000055/0001169770-23-000055-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.