Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 56

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 4
Chunk 56
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 common stock during the three months ended March 31, 2025: 

Total Number of Approximate Dollar Shares PurchasedValue of SharesTotal as Part of That May YetNumber of AveragePublicly Be PurchasedShares Price PaidAnnouncedUnder thePeriodPurchased (1)Per ShareProgram (2)Program (2)(Dollars in thousands, except per share amounts)January 1 - January 31, 20254,326 $14.82 — $— February 1 - February 28, 2025157,543 $14.74 — $— March 1 - March 31, 20252,706,434 $14.36 2,684,823 $111,454 Total2,868,303 $14.38 2,684,823 

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(1)    Includes shares repurchased pursuant to net settlement by employees in satisfaction of income tax withholding obligations incurred through the vesting of Company stock awards, and shares repurchased pursuant to the Company's publicly announced Stock Repurchase Program described in (2) below.

(2)    On March 17, 2025, the Company announced that its Board of Directors authorized a Stock Repurchase Program to purchase up to $150.0 million of its common stock, with the authorization expiring in March 2026.  

On March 17, 2025, we announced a repurchase program of up to $150.0 million of our common stock. The repurchase authorization expires in March 2026. 

On April 23, 2025, the Company announced an upsize of its stock repurchase program from $150.0 million to $300.0 million and expanded the program to cover both the Company's common stock and depositary shares representing its preferred stock. As before, the repurchase authorization expires in March 2026.

Purchases may be made in open-market transactions, in block transactions on or off an exchange, in privately negotiated transactions or by other means as determined by our management and in accordance with the regulations of the SEC. The timing of purchases and the number of shares repurchased under the program will depend on a variety of factors including price, trading volume, corporate and regulatory requirements, and market conditions. The program may be changed, suspended, or discontinued at any time.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY