Banc of California Q3 net income $42.6M, adj. EPS $0.30; PacWest merger on track for Nov 30

BANC OF CALIFORNIA, INC.

2024-Q3 EPS reported -$18.61 revenue$1,455,877,000

Net income $42.6M ($0.74 diluted EPS) vs $17.9M ($0.31) prior qtr; adjusted net income $17.1M ($0.30).
Net interest margin improved 8 bps to 3.19%; noninterest-bearing deposits stable at 36% of total deposits.
Merger with PacWest expected close ~Nov 30, 2023 after receiving all regulatory approvals.
Book value per share $17.44 (+4.6% QoQ); tangible book value $15.34 (+5.4%); provision for credit losses $5.0M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANC OF CALIFORNIA, INC. reported the third quarter of 2023 results: net income $42.6 million, EPS $0.74 per diluted common share.

Period: the third quarter of 2023
Net income: $42.6 million
EPS: $0.74 per diluted common share
Result: reported results

Exact text from the filing

Banc of California Reports Net Income of $42.6 million

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

BANC OF CALIFORNIA, INC. filing history →

Source: SEC EDGAR

accession 0001169770-23-000065

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