Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 59

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1A
Chunk 59
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ITEM 1A. RISK FACTORS

For information regarding factors that could affect the Company's results of operations, financial condition, and liquidity, see the risk factors disclosed in the "Risk Factors" section of our Form 10-K. See also "Forward-Looking Information" disclosed in Part I, Item 2 of this Quarterly Report on Form 10-Q. There have been no material changes to the risk factors previously disclosed in our Form 10-K.

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ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 

The following table sets forth information regarding repurchases of shares of our common stock during the three months ended March 31, 2025: 

Total Number of Approximate Dollar Shares PurchasedValue of SharesTotal as Part of That May YetNumber of AveragePublicly Be PurchasedShares Price PaidAnnouncedUnder thePeriodPurchased (1)Per ShareProgram (2)Program (2)(Dollars in thousands, except per share amounts)January 1 - January 31, 20254,326 $14.82 — $— February 1 - February 28, 2025157,543 $14.74 — $— March 1 - March 31, 20252,706,434 $14.36 2,684,823 $111,454 Total2,868,303 $14.38 2,684,823 

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(1)    Includes shares repurchased pursuant to net settlement by employees in satisfaction of income tax withholding obligations incurred through the vesting of Company stock awards, and shares repurchased pursuant to the Company's publicly announced Stock Repurchase Program described in (2) below.

(2)    On March 17, 2025, the Company announced that its Board of Directors authorized a Stock Repurchase Program to purchase up to $150.0 million of its common stock, with the authorization expiring in March 2026.  

On March 17, 2025, we announced a repurchase program of up to $150.0 million of our common stock. The repurchase authorization expires in March 2026. 

On April 23, 2025, the Company announced an upsize of its stock repurchase program from $150.0 million to $300.0 million and expanded the program to cover both the Company's common stock and depositary shares representing its