Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 199

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 199
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3,897,093 $3,805,364 Parent Company OnlyYear Ended December 31, Condensed Statements of Earnings (Loss) 202420232022(In thousands)Miscellaneous income (loss) $6,601 $8,978 $(7,234)Dividends from Bank subsidiary80,000 46,000 129,000 Total income86,601 54,978 121,766 Interest expense29,217 12,067 5,824 Operating expenses4,716 11,944 6,015 Total expenses33,933 24,011 11,839 Earnings before income taxes and equity in undistributedearnings of subsidiaries52,668 30,967 109,927 Income tax benefit 8,463 4,455 9,682 Earnings before equity in undistributed earnings of subsidiaries61,131 35,422 119,609 Equity in undistributed earnings (loss) of subsidiaries65,757 (1,934,559)304,004 Net earnings (loss) 126,888 (1,899,137)423,613 Preferred stock dividends39,788 39,788 19,339 Net earnings (loss) available to common and equivalentstockholders$87,100 $(1,938,925)$404,274 

199

BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Consolidated Financial Statements

Parent Company OnlyYear Ended December 31, Condensed Statements of Cash Flows202420232022(In thousands)Cash flows from operating activities:Net earnings (loss) $126,888 $(1,899,137)$423,613 Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:Depreciation and amortization4,608 378 — Change in other assets(42,141)(466,018)(323,852)Change in liabilities(22,063)20,907 (5,658)Earned stock compensation15,448 28,697 34,769 (Equity in) distributions in excess of undistributed earnings or loss of subsidiaries(65,757)1,934,559 (304,004)Net cash provided by (used in) operating activities16,983 (380,614)(175,132)Cash flows from investing activities:Cash acquired