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

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 11
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12 basis points and lower cost of funds decreasing by 5 basis points.

•Noninterest-bearing deposits of $7.6 billion increased 9% annualized from the previous quarter. Noninterest-bearing deposits represented 28% of total deposits at the end of the third quarter, up from 27% at the end of the second quarter.

•Loan production and disbursements totaled $2.1 billion with a weighted average interest rate on production of 7.08%. 

•Liquidated $263.5 million of held for sale commercial real estate loans through strategic loan sales and payoffs.

•Credit quality metrics remained stable with 4% reduction in criticized loans from the previous quarter. The allowance for credit losses ratio increased to 1.12%, up from 1.07% in the previous quarter.

•Noninterest expense of $185.7 million remained flat from the previous quarter resulting in an efficiency ratio(1) decrease to 62.05% from 65.50% in the previous quarter.

•Repurchased 2.2 million shares of common and common equivalent stock at a weighted average price per share of $16.48, or $35.5 million in the aggregate, during the third quarter, and 13.6 million shares of common stock at a weighted average price per share of $13.59, or $185.5 million in the aggregate, year-to-date.

•Maintained strong capital ratios well above the regulatory thresholds for "well capitalized" banks, including a 12.56% Tier 1 capital ratio and 10.14% CET 1 capital ratio and continued growth in book value per share to $19.09, up 3% from the previous quarter, and tangible book value per share(1) to $16.99, up 3% from the previous quarter.

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(1)    See "- Non-GAAP Financial Measures."

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The following table presents financial results and performance ratios for the periods indicated:

Three Months EndedNine Months EndedSeptember 30,June 30,September 30,2025202520252024(Dollars in thousands, except per share data)Earnings Summary:Interest income$432,541 $420,509 $1,259,705 $1,388,186 Interest expense(179,097)(180,293)(533,681)(697,421)Net interest income253,444 240,216 726,024 690,765 Provision for