Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 8

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 8
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angible Common Equity andJune 30,December 31,Tangible Book Value Per Common Share20252024(Dollars in thousands, except per share data)Stockholders’ equity$3,426,843 $3,499,949 Less: Preferred stock 498,516 498,516 Total common equity2,928,327 3,001,433 Less: Goodwill and intangible assets333,451 347,465 Tangible common equity$2,594,876 $2,653,968 Book value per common share (1)$18.58 $17.78 Tangible book value per common share (2)$16.46 $15.72 Common and equivalent shares outstanding (3)157,647,137 168,825,656 

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(1)    Total common equity divided by common and equivalent shares outstanding.

(2)    Tangible common equity divided by common and equivalent shares outstanding.

(3)    Common and equivalent shares outstanding include non-voting common stock equivalents that are participating securities.

Three Months EndedSix Months EndedJune 30,March 31,June 30,Efficiency Ratio2025202520252024(Dollars in thousands)Noninterest expense (1)$185,869 $183,653 $369,522 $414,161 Less: Intangible asset amortization(7,159)(7,160)(14,319)(16,888)Less: Acquisition, integration, andreorganization costs— — — 12,650 Noninterest expense used forefficiency ratio$178,710 $176,493 $355,203 $409,923 Net interest income$240,216 $232,364 $472,580 $458,590 Noninterest income32,633 33,650 66,283 63,608 Total revenue272,849 266,014 538,863 522,198 Noninterest expense to total revenue68.12 %69.04 %68.57 %79.31 %Efficiency ratio (2)65.50 %66.35 %65.92 %78.50 %

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(1)    Includes customer related expense of $26.6 million and $27.8 million for the three months ended June 30, 2025 and March 31