Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 11

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 11
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angible asset amortization33,143 11,419 13,576 Adjusted earnings (loss) before income taxes201,797 (823,183)610,144 Adjusted income tax expense (benefit) (1)49,965 (116,233)154,733 Adjusted net earnings (loss)151,832 (706,950)455,411 Less:Preferred stock dividends39,788 39,788 19,339 Adjusted net earnings (loss) available to common and equivalent stockholders$112,044 $(746,738)$436,072 Average stockholders' equity$3,431,364 $2,994,428 $3,853,033 Less:Average intangible assets356,960 379,005 1,443,528 Less:Average preferred stock498,516 498,516 285,488 Average tangible common equity$2,575,888 $2,116,907 $2,124,017 Return on average equity (2)3.70 %(63.42)%10.99 %Return on average tangible common equity (3)4.35 %(35.27)%20.53 %

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(1)     Effective tax rate of 24.76%, 14.12%, and 25.36% for the years ended December 31, 2024, 2023, and 2022.

(2)     Adjusted net earnings (loss) divided by average stockholders' equity.

(3)     Adjusted net earnings (loss) available to common and equivalent stockholders divided by average tangible common equity.

65

Tangible Common Equity Ratio andDecember 31, Tangible Book Value Per Common Share202420232022(Dollars in thousands, except per share data)Stockholders’ equity$3,499,949 $3,390,765 $3,950,531 Less: Preferred stock498,516 498,516 498,516 Total common equity3,001,433 2,892,249 3,452,015 Less: Goodwill and intangible assets347,465 364,104 1,408,117 Tangible common equity$2,653,968 $2,528,145 $2,043,898 Total assets$33,542,864 $38,534,064