Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 148

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 148
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. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP. The methodology for determining these non-GAAP measures may differ among companies and may not be comparable. We used the following non-GAAP measures in this Quarterly Report on Form 10-Q:  

•Return on average tangible common equity, tangible common equity, tangible book value per common share, efficiency ratio, adjusted net earnings, and adjusted diluted earnings per share: Given that the use of these measures is prevalent among banking regulators, investors, and analysts, we disclose them in addition to the related GAAP measures of return on average equity, book value per common share, and noninterest expense to total revenue, respectively. The reconciliations of these non-GAAP measures to the GAAP measures are presented in the following tables for and as of the periods presented.

Three Months EndedNine Months EndedReturn on Average Tangible September 30,June 30,September 30,Common Equity ("ROATCE")2025202520252024(Dollars in thousands)Net earnings  $69,629 $28,385 $151,582 $69,969 Earnings before income taxes$98,551 Add:Intangible asset amortization25,373 Adjusted earnings before income taxes for ROATCE123,924 Adjusted income tax expense (1)(34,215)Adjustments:Intangible asset amortization7,160 7,159 21,479 Tax impact of adjustment above (1)(1,958)(1,655)(5,872)Adjustment to net earnings5,202 5,504 15,607 Adjusted net earnings for ROATCE74,831 33,889 167,189 89,709 Less:Preferred stock dividends9,947 9,947 29,841 29,841 Adjusted net earnings available to common and equivalent stockholders for ROATCE$64,884 $23,942 $137,348 $59,868 Average stockholders' equity$3,437,335 $3,430,143 $3,463,568 $3,412,964 Less:Average goodwill and intangible assets330,277 337,352 337,361 358,321 Less:Average preferred stock 498,516 498,516 498,516 498,516 Average tangible common equity$2,608,542 $2,594,275 $2