Company: BANC-PF
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001169770-25-000015
Chunk: 108

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 108
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 |
| Adjusted income tax expense(1)                                        |     |                      |    19,281 |   |
| Adjusted net earnings                                                 |     |                      |    58,592 |   |
| Less: Preferred stock dividends                                       |     |                      |     9,947 |   |
| Adjusted net earnings available to common and equivalent stockholders |     | $                    |    48,645 |   |
| Average stockholders' equity                                          |     | $                    | 3,486,164 |   |
| Less: Average intangible assets                                       |     |                      |   352,907 |   |
| Less: Average preferred stock                                         |     |                      |   498,516 |   |
| Average tangible common equity                                        |     | $                    | 2,634,741 |   |
| Return on average tangible common equity(2)                           |     |                      |       7.4 | % |

________________________________________

(1) Effective tax rate of 24.8% used for the fourth quarter ended December 31, 2024.

(2) Annualized adjusted net earnings available to common and equivalent stockholders divided by average tangible common equity.

#### 93Banc of CaliforniaAnnual Proxy Statement2025

#### Appendix
Non-GAAP Reconciliation: Adjusted Noninterest Expense to Average Total Assets for the Fourth Quarter Ended December 31, 2024 and 2023

|                                                                                          |     | Fourth Quarter Ended | December 31, 2024 |   |   | December 31, 
      2023(1) |   |
|:-----------------------------------------------------------------------------------------|:----|:---------------------|------------------:|:--|:--|-------------:|:--|
| (dollars in thousands)                                                                   |     |                      |                   |   |   |              |   |
| Adjusted Noninterest Expense to Average Total Assets                                     |     |                      |                   |   |   |              |   |
| Noninterest expense                                                                      |     | $                    |           181,370 |   | $ |      363,638 |   |
| Less: Acquisition, integration, and reorganization costs                                 |     |                      |             1,023 |   |   |     -111,800 |   |
| Adjusted noninterest expense                                                             |     | $                    |           182,393 |   | $ |      251,838 |   |
| Less: Customer related expense