Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 9

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 9
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, 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 91,851 Adjusted income tax expense (1)19,493 26,288 Adjustments:Provision for credit losses related totransfer of loans to held for sale$26,289 $26,289 Tax impact of adjustments above (1)(6,078)(6,078)Income tax related adjustments9,792 9,792 Adjustments to net earnings30,003 30,003 Adjusted net earnings58,388 53,568 111,956 65,563 Less: Preferred stock dividends9,947 9,947 19,894 19,894 Adjusted net earnings available tocommon and equivalent stockholders$48,441 $43,621 $92,062 $45,669 Weighted average diluted common sharesoutstanding158,462 169,434 $163,667 $168,287 Diluted earnings per common share$0.12 $0.26 $0.38 $0.25 Adjusted diluted earnings per commonshare (2)$0.31 $0.26 $0.56 $0.27 Average total assets$33,764,149 $33,308,385 $33,537,526 $36,687,587 Return on average assets ("ROAA") (3)0.34 %0.65 %0.49 %0.34 %Adjusted ROAA (4)0.69 %0.65 %0.67 %0.36 %

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(1)     Effective tax rates of 23.12% and 25.30