Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 310

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 310
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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 tax expense (1)65,873 10,215 168,940 Adjusted net earnings for adjusted ROATCE200,174 62,132 497,228 Less: Preferred stock dividends39,788 39,788 19,339 Adjusted net earnings available to common and equivalent stockholders for adjusted ROATCE$160,386 $22,344 $477,889 Average stockholders' equity$3,431,364 $2,994,428 $3,853,033 Less: Average goodwill and intangible assets356,960 379,005 1,443,528 Less: Average preferred stock498,516 498,516 285,488 Average tangible common equity$2,575,888 $2,116,907 $2,124,017 Adjusted ROATCE (2)6.23 %1.06 %22.50 %

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(1)     Effective tax rates of 24.76%, 14.12%, and 25.36% used for the years ended December 31, 2024, 2023, and 2022.

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

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Adjusted Net Earnings, Adjusted Net EarningsAvailable to Common and EquivalentYear Ended December 31,Stockholders, Adjusted Diluted EPS, and Adjusted ROAA202420232022(Dollars in thousands, except per share data)Net earnings (loss)$126,888 $(1,899,137)$423,613 Earnings (loss) before income taxes$168,654 $(2,211,338)$567,568 Add: FDIC special assessment4,814 32,746 — Add: Loss on sale of securities59,946 442,413 50,321 Less: Acquisition, integration, and reorganization costs(510)142,633 5,703 Add: Loan