Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 9

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 9
---
2025202520252024(Dollars in thousands)Net earnings$69,629 $28,385 $151,582 $69,969 Earnings before income taxes$98,551 Add: FDIC special assessment5,816 Add: Loss on sale of securities59,946 Less: Acquisition, integration, and reorganization costs (13,160)Adjusted earnings before income taxes151,153 Adjusted income tax expense (1)(41,733)Adjustments:Provision for credit losses related totransfer of loans to held for sale26,289 $26,289 Tax impact of adjustments above (1)(6,078)(7,187)Income tax related adjustments9,792 9,792 Adjustments to net earnings30,003 28,894 Adjusted net earnings69,629 58,388 180,476 109,420 Less: Preferred stock dividends9,947 9,947 29,841 29,841 Adjusted net earnings available tocommon and equivalent stockholders$59,682 $48,441 $150,635 $79,579 Weighted average diluted common sharesoutstanding159,051 158,462 $161,993 $168,386 Diluted earnings per common share$0.38 $0.12 $0.75 $0.24 Adjusted diluted earnings per commonshare (2)$0.38 $0.31 $0.93 $0.47 Average total assets$33,831,217 $33,764,149 $33,636,499 $35,928,284 Return on average assets ("ROAA") (3)0.82 %0.34 %0.60 %0.26 %Adjusted ROAA (4)0.82 %0.69 %0.72 %0.41 %

___________________________________

(1)     Effective tax rates of 27.34% and 23.12% used for the three months ended September 30, 2025 and June 30, 2025. Effective tax rates of 27.34% and 27.61% used for the nine months ended September 30, 2025 and 2024.

(2)     Adjusted net earnings available to common and equivalent stockholders divided by weighted average diluted common shares outstanding.

(3)