Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 128

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 128
---
 SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

LimitationsFair value estimates are made at a specific point in time and are based on relevant market information and information about the financial instrument. These estimates do not reflect income taxes or any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a portion of the Company’s financial instruments, fair value estimates are based on what management believes to be reasonable judgments regarding expected future cash flows, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimated fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Since the fair values have been estimated as of September 30, 2025, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different.

NOTE 13.  EARNINGS PER SHARE

The following tables present the computations of basic and diluted net earnings per share by class of common stock for the periods indicated:Three Months Ended September 30, 2025Non-VotingClass BCommon VotingNon-VotingStock TotalCommonCommonEquivalentsCommon(In thousands, except per share amounts)Basic Earnings Per Share:Net earnings available to common and equivalent stockholders$56,374 $181 $3,127 $59,682 Less: Earnings allocated to unvested restricted stock (1)(31)— — (31)Net earnings allocated to common and equivalent shares$56,343 $181 $3,127 $59,651 Weighted average basic shares and unvested restrictedstock outstanding148,477 477 8,231 157,185 Less: weighted average unvested restricted stock outstanding(82)— — (82)Weighted average basic shares outstanding148,395 477 8,231 157,103 Basic earnings per share$0.38 $0.38 $0.38 $0.38 Diluted Earnings Per Share:Net earnings available to common and equivalent stockholders$56,374 $181 $3,127 $59,682 Reallocation of net earnings as a result of conversion ofNVCE to Voting Common3,127 — — — Reallocation of net earnings2 (2)395 —