Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 149

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 149
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,627,691 $2,556,127 Return on average equity (2)8.04 %3.32 %5.85 %2.74 %Return on average tangible common equity (3)9.87 %3.70 %6.99 %3.13 %

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(1)     Effective tax rates of 27.34% and 23.12% used for the three months ended September 30, 2025 and June 30, 2025. Effective tax rates of 27.34% and 27.61% used for the nine months ended September 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.

80

Tangible Common Equity andSeptember 30,December 31,Tangible Book Value Per Common Share20252024(Dollars in thousands, except per share data)Stockholders’ equity$3,466,739 $3,499,949 Less: Preferred stock 498,516 498,516 Total common equity2,968,223 3,001,433 Less: Goodwill and intangible assets326,444 347,465 Tangible common equity$2,641,779 $2,653,968 Book value per common share (1)$19.09 $17.78 Tangible book value per common share (2)$16.99 $15.72 Common and equivalent shares outstanding (3)155,522,693 168,825,656 

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(1)    Total common equity divided by common and equivalent shares outstanding.

(2)    Tangible common equity divided by common and equivalent shares outstanding.

(3)    Common and equivalent shares outstanding include non-voting common stock equivalents that are participating securities.

Three Months EndedNine Months EndedSeptember 30,June 30,September 30,Efficiency Ratio2025202520252024(Dollars in thousands)Noninterest expense (1)$185,684 $185,869 $555,206 $610,370 Less: Intangible asset amortization(7,160)(7,159)(21,479)(25,373)Less: Acquisition, integration