Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 148

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 148
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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, 2025, and $54.3 million and $63.3 million for the six months ended June 30, 2025 and 2024.

(2)    Noninterest expense used for efficiency ratio divided by total revenue.

78

Adjusted Net Earnings, Net EarningsThree Months EndedSix Months EndedAvailable to Common and EquivalentJune 30,March 31,June 30,Stockholders, Diluted EPS, and ROAA2025202520252024(Dollars in thousands)Net earnings$28,385 $53,568 $81,953 $61,185 Earnings before income taxes$73,061 $87,037 Add: FDIC special assessment— 4,814 Adjusted earnings before income taxes73,061 91,