Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 7

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 7
---
5202520252024(Dollars in thousands)Net earnings  $28,385 $53,568 $81,953 $61,185 Earnings before income taxes$73,061 $87,037 Add:Intangible asset amortization7,160 16,888 Adjusted earnings before income taxes for ROATCE80,221 103,925 Adjusted income tax expense (1)20,296 29,743 Adjustments:Intangible asset amortization7,159 14,319 Tax impact of adjustment above (1)(1,655)(3,311)Adjustment to net earnings5,504 11,008 Adjusted net earnings for ROATCE33,889 59,925 92,961 74,182 Less:Preferred stock dividends9,947 9,947 19,894 19,894 Adjusted net earnings available to common and equivalent stockholders for ROATCE$23,942 $49,978 $73,067 $54,288 Average stockholders' equity$3,430,143 $3,524,181 $3,476,902 $3,392,941 Less:Average goodwill and intangible assets337,352 344,610 340,961 356,807 Less:Average preferred stock 498,516 498,516 498,516 498,516 Average tangible common equity$2,594,275 $2,681,055 $2,637,425 $2,537,618 Return on average equity (2)3.32 %6.16 %4.75 %3.63 %Return on average tangible common equity (3)3.70 %7.56 %5.59 %4.30 %

___________________________________

(1)     Effective tax rates of 23.12% and 25.30% used for the three months ended June 30, 2025 and March 31, 2025. Effective tax rates of 23.12% and 28.62% used for the six months ended June 30, 2025 and 2024.

(2)     Annualized net earnings divided by average stockholders' equity.

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

77

T