Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 120

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 120
---
ationsFair value estimates are made at a specific point in time and are based on relevant market information and information about the financial instrument. These estimates do not reflect income taxes or any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a portion of the Company’s financial instruments, fair value estimates are based on what management believes to be reasonable judgments regarding expected future cash flows, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimated fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Since the fair values have been estimated as of March 31, 2025, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different.

53

BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 13.  EARNINGS PER SHARE 

The following tables present the computations of basic and diluted net earnings per share by class of common stock for the periods indicated:Three Months Ended March 31, 2025Non-VotingClass BCommon VotingNon-VotingStock TotalCommonCommonEquivalentsCommon(In thousands, except per share amounts)Basic Earnings Per Share:Net earnings available to common and equivalent stockholders$40,963 $123 $2,535 $43,621 Less: Earnings allocated to unvested restricted stock (1)(47)— — (47)Net earnings allocated to common and equivalent shares$40,916 $123 $2,535 $43,574 Weighted average basic shares and unvested restrictedstock outstanding158,429 477 9,791 168,697 Less: weighted average unvested restricted stock outstanding(202)— — (202)Weighted average basic shares outstanding158,227 477 9,791 168,495 Basic earnings per share$0.26 $0.26 $0.26 $0.26 Diluted Earnings Per Share:Net earnings allocated to common and equivalent shares$40,963 $123 $2,535 $43,621 Weighted average diluted shares outstanding158,734 477 10,223 169,434 Diluted earnings per share$0