Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 12

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 12
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$41,228,936 Less: Goodwill and intangible assets347,465 364,104 1,408,117 Tangible assets$33,195,399 $38,169,960 $39,820,819 Total stockholders' equity to total assets ratio10.43 %8.80 %9.58 %Tangible common equity ratio (1)7.99 %6.62 %5.13 %Book value per common share (2)(5)$17.78 $17.12 $43.71 Tangible book value per common share (3)(5)$15.72 $14.96 $25.88 Common and equivalent shares outstanding (4)(5)168,825,656 168,959,063 78,973,869 

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(1)    Tangible common equity divided by tangible assets.

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

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

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

(5)    Common and equivalent shares outstanding in 2022 have been restated by multiplying the historical amounts by the Merger exchange ratio of 0.6569.

66

Adjusted Return on AverageYear Ended December 31,Tangible Common Equity ("ROATCE")202420232022(Dollars in thousands)Net earnings (loss)$126,888 $(1,899,137)$423,613 Earnings (loss) before income taxes$168,654 $(2,211,338)$567,568 Add: Intangible asset amortization33,143 11,419 13,576 Add: Goodwill impairment— 1,376,736 29,000 Add: FDIC special assessment4,814 32,746 — Add: Loss on sale of securities59,946 442,413 50,321 Add: Acquisition, integration, and reorganization costs(510)142,633 5,703 Add: Loan fair value loss adjustments— 170,971 — Add: Unfunded commitments fair value loss adjustments— 106,767 — Adjusted earnings before income taxes for adjusted ROATCE266,047 72,347 666,168 Adjusted income