secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0001169770-23-000065
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000116977023000065/0001169770-23-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000116977023000065/banc-20231024.htm
  HTML page:      https://secwatch.observer/filing/0001169770-23-000065

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