Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 496

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 496
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967 109,927 Income tax benefit 8,463 4,455 9,682 Earnings before equity in undistributed earnings of subsidiaries61,131 35,422 119,609 Equity in undistributed earnings (loss) of subsidiaries65,757 (1,934,559)304,004 Net earnings (loss) 126,888 (1,899,137)423,613 Preferred stock dividends39,788 39,788 19,339 Net earnings (loss) available to common and equivalentstockholders$87,100 $(1,938,925)$404,274 

199

BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Consolidated Financial Statements

Parent Company OnlyYear Ended December 31, Condensed Statements of Cash Flows202420232022(In thousands)Cash flows from operating activities:Net earnings (loss) $126,888 $(1,899,137)$423,613 Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:Depreciation and amortization4,608 378 — Change in other assets(42,141)(466,018)(323,852)Change in liabilities(22,063)20,907 (5,658)Earned stock compensation15,448 28,697 34,769 (Equity in) distributions in excess of undistributed earnings or loss of subsidiaries(65,757)1,934,559 (304,004)Net cash provided by (used in) operating activities16,983 (380,614)(175,132)Cash flows from investing activities:Cash acquired in acquisitions, net of consideration paid— 26,310 — Net cash provided by investing activities— 26,310 — Cash flows from financing activities:Common stock repurchased and restricted stock surrendered(2,708)(5,419)(9,531)Net proceeds from stock issuance— 382,900 — Net proceeds from preferred stock offering— — 498,516 Shares purchased under the Dividend Reinvestment Plan308 69 — Preferred stock dividends paid(39,788)(39,788)(19,339)Common stock dividends paid(68,298)(48,881)(120,256)Net cash (used in) provided by financing activities(110,486)288,881 349,390