Company: BANC-PF
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001169770-25-000015
Chunk: 106

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 106
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holders, after adjustment for goodwill impairment (if applicable), amortization of intangible assets, and preferred stock dividends, by average tangible common equity. Average tangible common equity is calculated by subtracting intangible assets and preferred stock from average stockholders' equity.

Core ROATCE and core adjusted noninterest expense to average total assets were among the selected financial performance measures approved by the CNG Committee for the annual Incentive (Performance) Based Compensation Plan in 2024 and represent non-GAAP measures to evaluate scorecard performance when calculating incentive payouts and may be adjusted for one-time or other non-core income and expense items at the discretion of the CNG Committee. For Core ROATCE, there was no one-time or other non-core income and expense items for adjustments approved by the CNG Committee in 2024; thus Core ROATCE is the same as ROATCE as described above. Core adjusted noninterest expense is computed by subtracting merger-related expenses and customer related expenses at the discretion of the CNG Committee, from total noninterest expense.

Other non-GAAP measures presented in this Proxy statement used by management in our analysis of our performance include adjusted noninterest expense (which exclude customer related expense) to average total assets and TBVPS. Adjusted noninterest expense is calculated by subtracting acquisition, integration and reorganization costs from total noninterest expense. Adjusted noninterest expense excluding customer related expenses is calculated by subtracting customer related expenses from adjusted noninterest expense. Tangible book value per share is calculated by dividing tangible common equity by common shares outstanding, which include non-voting common equivalents that are participating securities. Tangible common equity is calculated by subtracting goodwill and other intangible assets from total common equity, and total common equity is calculated by subtracting preferred stack from total equity.

Management believes the presentation of these financial measures and adjusting for the impact of these items provides useful supplemental information that is essential to a proper understanding of our financial results and operating performance. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

The following tables provide reconciliations of the non-GAAP measures with financial measures defined by GAAP.

#### 91Banc of CaliforniaAnnual Proxy Statement2025

#### Appendix
Non-GAAP Reconciliation: Return on Average Tangible Common Equity for the Years Ended December 31, 2024, 2023, 2022, 2021, and