# EDGAR Filing Document

**Accession Number:** 0001169770
**File Stem:** 0001628280-25-035759
**Filing Date:** 2025-7
**Character Count:** 187998
**Document Hash:** ccf8b509075e5e8b19b0ee9cecadd8f9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-035759.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001628280-25-035759

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 59

**CONFORMED PERIOD OF REPORT**: 20250723

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANC OF CALIFORNIA, INC.
- **CENTRAL INDEX KEY:** 0001169770
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 043639825
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35522
- **FILM NUMBER:** 251143616

**BUSINESS ADDRESS:**
- **STREET 1:** 3 MACARTHUR PLACE
- **CITY:** SANTA ANA
- **STATE:** CA
- **ZIP:** 92707
- **BUSINESS PHONE:** 949-236-5211

**MAIL ADDRESS:**
- **STREET 1:** 3 MACARTHUR PLACE
- **CITY:** SANTA ANA
- **STATE:** CA
- **ZIP:** 92707

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST PACTRUST BANCORP INC
- **DATE OF NAME CHANGE:** 20020322

?xml version='1.0' encoding='ASCII'? banc-20250723

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): July 23, 2025**

**BANC OF CALIFORNIA, INC.**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Maryland** | **001-35522** | **04-3639825** |
| **(State or other jurisdiction of incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

---

| | |
|:---|:---|
| **11611 San Vicente Boulevard, Suite 500** | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Los Angeles, California** | **90049** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code:** (**855) 361-2262**

**N/A**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

------

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.01 per share | BANC | New York Stock Exchange |
| Depositary Shares, each representing a 1/40th interest in a share of 7.75% fixed rate reset non-cumulative perpetual preferred stock, Series F | BANC/PF | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02. Results of Operations and Financial Conditions.**

On July 23, 2025, Banc of California, Inc. (the "Company") issued a press release announcing 2025 second quarter financial results.

A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.

**Item 7.01 Regulation FD Disclosure.**

The Company will host a conference call to discuss its second quarter results at 10:00 A.M. Pacific Time on Thursday, July 24, 2025. Interested parties may attend the conference call by dialing (888) 317-6003 and referencing event code 7565369. A live audio webcast will be available through the webcast link to be posted on the Company's Investor Relations website at www.bancofcal.com/investor, in addition to the slide presentation for investor review prior to the call. A copy of the presentation materials is furnished herewith as Exhibit 99.2 and is incorporated by reference herein.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Banc of California, Inc. Press Release dated](ex991_63025er.htm)[July](ex991_63025er.htm)[2](ex991_63025er.htm)[3](ex991_63025er.htm)[, 2025](ex991_63025er.htm)</u>

99.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Banc of California, Inc. Earnings Conference Call Presentation Materials](investorpresentation_2q2.htm)</u>

104 &nbsp;&nbsp;&nbsp;&nbsp;Cover Page Interactive Data File (embedded within the Inline XBRL document)

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| |
|:---|
| **BANC OF CALIFORNIA, INC.** |
| /s/ Joseph Kauder |
| Joseph Kauder |
| *Executive Vice President and <br>Chief Financial Officer* |

---

Date: July 23, 2025

## Exhibit 99.1

![secondquarter2025bannera.jpg](secondquarter2025bannera.jpg)

Banc of California, Inc. Reports Second Quarter Results and 9% Annualized Loan Growth

Company Release – 7/23/2025

---

| | | | |
|:---|:---|:---|:---|
| **$0.12**<br>Earnings Per Share<br>**$0.31**<br>Adjusted Earnings<br> Per Share<sup>(1)</sup> | **$18.58**<br>Book Value Per Share<br>**$16.46**<br>Tangible Book Value <br>Per Share<sup>(1)</sup> | <br>**9.92%**<br>CET1 Ratio | <br>**9%**<br>Annualized Loan Growth |

---

LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) ("Banc of California" or the "Company"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the second quarter ended June 30, 2025. The Company reported net earnings available to common and equivalent stockholders of $18.4 million, or $0.12 per diluted common share, for the second quarter of 2025. On an adjusted basis, net earnings available to common and equivalent stockholders were $48.4 million for the quarter, or $0.31 per diluted common share.<sup>(1)</sup> This compares to net earnings available to common and equivalent stockholders of $43.6 million, or $0.26 per diluted common share, for the first quarter of 2025. The second quarter included provision expense, net of tax, of an additional $20.2 million taken during the quarter as a result of transferring $506.7 million of loans to held for sale at their estimated fair value. The second quarter also included a one-time non-cash income tax expense of $9.8 million primarily due to the revaluation of deferred tax assets related to California state tax changes passed as part of the 2025 California budget.

**<u>Second Quarter of 2025 Financial Highlights:</u>**

• **Total revenue of $272.8 million increased 3% and pre-tax pre-provision income of $87.0 million increased 6%** from 1Q25 driven by solid loan growth combined with continued prudent expense management.

• **Total loans of $24.7 billion increased by 2%, or 9% annualized,** from 1Q25 driven by growth in lender finance, fund finance, and purchased single-family residential loans.

• **Strong loan originations totaled $2.2 billion** including production, purchased loans, and unfunded new commitments with a weighted average interest rate on production of 7.29%.

• **Total deposits of $27.5 billion increased by 1%**, and interest-bearing deposits of $20.1 billion increased by 2% from 1Q25.

• **Net interest margin up 2 basis points** vs 1Q25 to 3.10% driven by a higher average yield on loans and leases increasing by 3 basis points and flat cost of funds from 1Q25.

• **Commenced sale process for $506.7 million of loans with expected proceeds net of reserve release of 95%.** Completed sales for $30.5 million of such loans. The remaining $476.2 million was transferred to held for sale at a lower of cost or market value of $441.2 million.

• **Credit quality metrics improved substantially** primarily due to the transfer of loans to held for sale in connection with the pending strategic loan sales. Nonperforming, classified, and special mention loans and leases, as a percentage of total loans and leases held for investment, declined by 19 basis points, 46 basis points, and 115 basis points, respectively, from 1Q25.

• **Results include $9.8 million of one-time non-cash income tax expense** largely driven by the reevaluation of deferred tax assets due to California state tax changes enacted under the 2025 budget.

• **Repurchases** of 8.8 million shares of common stock at a weighted average price per share of $12.65, or $111.5 million in the aggregate, during the second quarter, and 11.5 million shares of common stock at a weighted average price per share of $13.05, or $150.0 million in the aggregate, in the first half of the year. As of June 30, 2025, the Company had $150.0 million remaining under the current stock repurchase authorization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>*Non-GAAP measure; refer to section 'Non-GAAP Measures'*

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

• **Strong capital ratios**<sup>(2)</sup> well above the regulatory thresholds for "well capitalized" banks, including an estimated 12.30% Tier 1 capital ratio and 9.92% CET 1 capital ratio and continued growth in book value per share to $18.58, up 2% vs 1Q25 and tangible book value per share<sup>(2)</sup> to $16.46, up 2% vs 1Q25.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(2)</sup>*Capital ratios for June 30, 2025 are preliminary*

<sup>•</sup>

Jared Wolff, President & CEO of Banc of California, commented, "Our second quarter results reflect the strength of our core earnings engine and our disciplined execution. We delivered double digit growth in adjusted earnings per share, our third consecutive quarter of strong loan growth, expanded net interest income, and grew pre-tax pre-provision profitability, all while proactively managing credit risk. The decisive actions we took to reposition a portion of our balance sheet—through the opportunistic sale of select CRE loans—have enhanced our credit profile and strengthened our balance sheet, positioning us to continue generating consistent and high quality earnings. We have increased tangible book value per share for five straight quarters. With a healthy capital base, improving credit metrics, and a robust pipeline of high-quality loan originations, we are confident in our ability to drive long-term value for our shareholders."

Mr. Wolff continued, "Our second quarter results demonstrate our strong growth trajectory and our continued success growing market share in our key verticals. Our teams continue to work tirelessly to deliver strong results as they win new high quality relationships. As we look ahead, we expect to deliver durable, profitable growth through a combination of our strong market position, disciplined risk management, operational efficiency, and a relentless focus on serving our clients."

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

**INCOME STATEMENT HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **<u>Summary Income Statement</u>** | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | ***(In thousands)*** | ***(In thousands)*** | ***(In thousands)*** | ***(In thousands)*** | ***(In thousands)*** |
| Total interest income | $420509 | $406655 | $462589 | $827164 | $941293 |
| Total interest expense | 180293 | 174291 | 233101 | 354584 | 482703 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 240216 | 232364 | 229488 | 472580 | 458590 |
| Provision for credit losses | 39100 | 9300 | 11000 | 48400 | 21000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of loans | 30 | 211 | 1135 | 241 | 687 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest income | 32603 | 33439 | 28657 | 66042 | 62921 |
| Total noninterest income | 32633 | 33650 | 29792 | 66283 | 63608 |
| Total revenue | 272849 | 266014 | 259280 | 538863 | 522198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition, integration and |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reorganization costs |  |  | (12650) |  | (12650) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest expense | 185869 | 183653 | 216293 | 369522 | 426811 |
| Total noninterest expense | 185869 | 183653 | 203643 | 369522 | 414161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings before income taxes | 47880 | 73061 | 44637 | 120941 | 87037 |
| Income tax expense | 19495 | 19493 | 14304 | 38988 | 25852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net earnings | 28385 | 53568 | 30333 | 81953 | 61185 |
| Preferred stock dividends | 9947 | 9947 | 9947 | 19894 | 19894 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net earnings available to common |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and equivalent stockholders | $18438 | $43621 | $20386 | $62059 | $41291 |
| Diluted earnings per share | $0.12 | $0.26 | $0.12 | $0.38 | $0.25 |

---

***Net Interest Income and Margin***

*<u>Q2-2025 vs Q1</u>*<u>-</u>*<u>2025</u>*

Net interest income increased by $7.9 million to $240.2 million for the second quarter from $232.4 million for the first quarter attributable primarily to the following:

• An increase of $16.2 million in interest income from loans due primarily to a higher average balance in the second quarter, higher day count, and higher average yield driven by higher yield on loan production.

This was offset partially by:

• An increase of $4.4 million in interest expense on deposits due primarily to higher average interest-bearing deposit balances in the second quarter and higher day count, offset partially by lower interest rates.

• A decrease of $2.1 million in interest income from deposits in financial institutions driven mainly by a lower average balance as cash was utilized to fund strong loan growth.

• An increase of $1.6 million in interest expense on our borrowings driven primarily by a higher average balance to support loan funding activity and higher day count.

The net interest margin was 3.10% for the second quarter, up 2 basis points from 3.08% for the first quarter primarily driven by a higher average yield on interest-earning assets. The average yield on interest-earning assets increased to 5.42% from 5.39%, reflecting a 3 basis point increase in the average yield on loans and leases to 5.93%, due to strong growth in higher yielding loan categories and new loan production at a higher weighted average rate of 7.29%. Average loans and leases also increased by $715.7 million to $24.5 billion, supported by strong loan growth.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

The average total cost of funds remained flat at 2.42% for the second quarter. The average cost of borrowings declined by 41 basis points to 4.93%, driven by the redemption of $174 million of 5.25% Senior Notes and replacement with lower-cost long-term Federal Home Loan Bank of San Francisco ("FHLB") borrowings at a weighted average rate of 3.81%. The average cost of deposits increased slightly to 2.13% from 2.12%. Average deposits increased by $384.0 million, with a $515.0 million increase in interest-bearing deposits, offset partially by a $130.9 million decline in noninterest-bearing deposits as the need to fund strong loan growth drove a mix shift towards interest-bearing deposits. Average noninterest-bearing deposits represented 27.8% of average total deposits in the second quarter and 28.7% in the first quarter.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Increase (Decrease)** | **Increase (Decrease)** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** | **QoQ** | **QoQ** |
| **Summary** | | | | | | | | |
| **Average Balance** | | | | | | | | |
| **<u>and Yield/Cost Data</u>** |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |<br>**Average**<br>**Balance** | **Average**<br>**Yield/**<br>**Cost** |
| | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| **Assets:** | | | | | | | | |
| Loans and leases<sup>(1)</sup> | $24504319 | $362303 | 5.93% | $23788647 | $346103 | 5.90% | $715672 | 0.03% |
| Investment securities | 4719954 | 37616 | 3.20% | 4734037 | 37862 | 3.24% | (14083) | (0.04)% |
| Deposits in financial institutions | 1872736 | 20590 | 4.41% | 2088139 | 22690 | 4.41% | (215403) | —% |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | $31097009 | $420509 | 5.42% | $30610823 | $406655 | 5.39% | $486186 | 0.03% |
| **Liabilities:** |  |  |  |  |  |  |  |  |
| Noninterest-bearing demand |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;deposits | $7583894 |  |  | $7714830 |  |  | $(130936) |  |
| Total interest-bearing deposits | 19721040 | $144940 | 2.95% | 19206084 | $140530 | 2.97% | 514956 | (0.02)% |
| &nbsp;&nbsp;&nbsp;Total deposits | $27304934 | 144940 | 2.13% | $26920914 | 140530 | 2.12% | $384020 | 0.01% |
| Total interest-bearing liabilities | $22296364 | $180293 | 3.24% | $21546621 | $174291 | 3.28% | $749743 | (0.04)% |
| Net interest income<sup>(1)</sup> |  | $240216 |  |  | $232364 |  |  |  |
| Net interest margin |  |  | 3.10% |  |  | 3.08% |  | 0.02% |
| Total funds<sup>(2)</sup> | $29880258 | $180293 | 2.42% | $29261451 | $174291 | 2.42% | $618807 | —% |

---

______________

(1) Includes net loan discount accretion of $16.1 million and $16.0 million for the three months ended June 30, 2025 and March 31, 2025

(2) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense divided by average total funds.

*<u>YTD June 30, 2025 vs YTD June 30, 2024</u>*

Net interest income increased by $14.0 million to $472.6 million for the six months ended June 30, 2025 from $458.6 million for the six months ended June 30, 2024 attributable primarily to the following:

• A decrease of $95.4 million in interest expense on deposits due primarily to lower interest paid on interest-bearing deposits as a result of deposit rate repricing driven by the 100 basis points of federal funds rate cuts in the second half of 2024 and lower average balance due mainly to the paydown of brokered deposits.

• A decrease of $30.0 million in interest expense on borrowings driven by lower average balance resulting from the payoff of higher-cost Bank Term Funding Program ("BTFP") borrowings in 2024, which were partially replaced with lower-cost long-term FHLB advances and lower market interest rates.

• An increase of $7.3 million in interest income from investment securities reflecting the benefits from 2024 balance sheet repositioning actions and reinvestment in higher-yield securities.

This was offset partially by:

• A decrease of $65.9 million in interest income from loans due primarily to a lower average balance attributable mainly to the sale in July 2024 of $1.95 billion of Civic loans, lower net loan discount accretion, and lower market interest rates reflective of the federal funds rate cuts.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

• A decrease of $55.6 million in interest income from deposits in financial institutions driven by lower balances, as we maintained a lower cash target level, and lower market interest rates.

The net interest margin was 3.09% for the six months ended June 30, 2025, up 36 basis points from 2.73% for the six months ended June 30, 2024. The year-over-year improvement was primarily driven by a 57 basis point decrease in the average total cost of funds to 2.42%, offset partially by a 19 basis point decrease in the average yield on interest-earning assets to 5.41%.

The average total cost of funds decreased by 57 basis points to 2.42%, driven by lower market interest rates and a shift in mix. The average cost of deposits declined 51 basis points to 2.12%, reflecting the impact of federal funds rate cuts in the second half of 2024. Average total deposits decreased by $2.0 billion year over year, including a $1.9 billion reduction in average interest-bearing deposits and a $134.3 million decrease in average noninterest-bearing deposits. Average noninterest-bearing deposits represented 28.2% of average total deposits for the six months ended June 30, 2025 compared to 26.7% for the comparable period in 2024. The average cost of borrowings also decreased by 49 basis points to 5.12%, reflecting the paydown of higher-cost BTFP borrowings in the prior year and their replacement with lower-cost long-term FHLB advances.

The average yield on interest-earning assets declined 19 basis points to 5.41%, primarily due to a 101 basis point decrease in the average yield on deposits in financial institutions, and a 21 basis point decline in average yield on loans and leases, offset partially by a 30 basis point increase in the average yield on investment securities. The average yield on deposits in financial institutions decreased to 4.41% from 5.42% driven by the federal funds rate cuts described above, while the average yield on loans and leases decreased to 5.92% from 6.13%, driven by lower net loan discount accretion and market rates. The average yield on investment securities increased to 3.22% from 2.92%, reflecting continued benefits from 2024 balance sheet repositioning actions and reinvestment in higher-yield assets. Average deposits in financial institutions decreased by $1.7 billion to $2.0 billion, as we maintained a lower cash position.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Increase (Decrease)** | **Increase (Decrease)** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** | **YoY** | **YoY** |
| **Summary** | | | | | | | | |
| **Average Balance** | | | | | | | | |
| **<u>and Yield/Cost Data</u>** |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |<br>**Average**<br>**Balance** | **Average**<br>**Yield/**<br>**Cost** |
| | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| **Assets:** | | | | | | | | |
| Loans and leases<sup>(1)</sup> | $24148460 | $708406 | 5.92% | $25422084 | $774318 | 6.13% | $(1273624) | (0.21)% |
| Investment securities | 4726957 | 75478 | 3.22% | 4690123 | 68139 | 2.92% | 36834 | 0.30% |
| Deposits in financial institutions | 1979843 | 43280 | 4.41% | 3667630 | 98836 | 5.42% | (1687787) | (1.01)% |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | $30855260 | $827164 | 5.41% | $33779837 | $941293 | 5.60% | $(2924577) | (0.19)% |
| **Liabilities:** |  |  |  |  |  |  |  |  |
| Noninterest-bearing demand |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;deposits | $7649000 |  |  | $7783324 |  |  | $(134324) |  |
| Total interest-bearing deposits | 19464984 | $285470 | 2.96% | 21339422 | $380913 | 3.59% | (1874438) | (0.63)% |
| &nbsp;&nbsp;&nbsp;Total deposits | $27113984 | 285470 | 2.12% | $29122746 | 380913 | 2.63% | $(2008762) | (0.51)% |
| Total interest-bearing liabilities | $21923564 | $354584 | 3.26% | $24730111 | $482703 | 3.93% | $(2806547) | (0.67)% |
| Net interest income<sup>(1)</sup> |  | $472580 |  |  | $458590 |  |  |  |
| Net interest margin |  |  | 3.09% |  |  | 2.73% |  | 0.36% |
| Total funds<sup>(2)</sup> | $29572564 | $354584 | 2.42% | $32513435 | $482703 | 2.99% | $(2940871) | (0.57)% |

---

______________

(1) Includes net loan discount accretion of $32.1 million and $44.3 million for the six months ended June 30, 2025 and 2024.

(2) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense divided by average total funds.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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![image_28a.jpg](image_28a.jpg)

***Provision For Credit Losses***

*<u>Q2-2025 vs Q1</u>*<u>-</u>*<u>2025</u>*

The provision for credit losses was $39.1 million for the second quarter compared to $9.3 million for the first quarter. The second quarter provision included a provision of loan losses of $38.6 million, offset partially by a $0.4 million reversal of the provision for unfunded loan commitments, and a provision for credit losses on investment securities of $0.9 million.

The second quarter provision of loan losses included $26.3 million related to loans transferred to held for sale ("HFS") for the pending strategic loan sales. The remaining $12.3 million increase in provision for loan losses was primarily driven by net charge-off activity experienced during the quarter, an increase in the quantitative reserve driven by the updated economic forecast, and an increase in the qualitative reserve related to loans secured by office properties.

The first quarter provision included a $9.7 million provision for loan losses and a $0.5 million provision for unfunded loan commitments, offset partially by a $0.9 million reversal of the provision for credit losses related to investment securities. The first quarter provision for loans and unfunded loan commitments was primarily driven by net charge-off activity experienced during the quarter, offset partially by lower specific reserves and changes in portfolio mix driven by growth in loan segments with low expected credit losses.

*<u>YTD June 30, 2025 vs YTD June 30, 2024</u>*

The provision for credit losses was $48.4 million for the six months ended June 30, 2025 compared to $21.0 million for the six months ended June 30, 2024. The provision for the 2025 period primarily included a provision for loan losses of $48.3 million and a provision for unfunded loan commitments of $0.2 million.

The provision for the 2025 period included $26.3 million related to loans transferred to HFS. The remaining increase in the provision for loans and unfunded loan commitments was primarily driven by net charge-off activity experienced in the first half of the year, with additional impacts from risk rating migration activity. These were offset partially by lower specific reserves and a favorable shift in the portfolio mix due to growth in loan segments with lower expected credit losses.

The provision for loans and unfunded loan commitments for the 2024 period included a $23.0 million provision for loan losses and a $2.0 million reversal of the provision for unfunded loan commitments. The provision for the 2024 period was generally due to higher net charge-offs and higher qualitative reserves, offset partially by the reserves released for the Civic loans transferred to HFS in the second quarter of 2024.

***Noninterest Income***

*<u>Q2-2025 vs Q1</u>*<u>-</u>*<u>2025</u>*

Noninterest income decreased by $1.0 million to $32.6 million for the second quarter from $33.7 million for the first quarter due mainly to a $2.4 million decrease in dividends and gains on equity investments, offset partially by a $1.5 million increase in warrant income. The decrease in dividends and gains on equity investments was primarily related to fair value losses in the second quarter on Small Business Investment Company ("SBIC") investments compared to fair value gains in the first quarter. The increase in warrant income was driven by higher gains from warrant exercises.

*<u>YTD June 30, 2025 vs YTD June 30, 2024</u>*

Noninterest income increased by $2.7 million to $66.3 million for the six months ended June 30, 2025 from $63.6 million for the six months ended June 30, 2024 due mainly to increases of $4.0 million in other income and $2.8 million in commissions and fees, offset partially by decreases of $2.2 million in leased equipment income and $2.0 million in dividends and gains on equity investments. The increase in other income was due mainly to a $2.6 million increase in the fair value mark on the credit-linked notes and a $1.1 million increase in gain on termination of leases. The increase in commissions and fees was due principally to higher loan-related fee income and higher customer service fees. The decrease in dividends and gains on equity investments was due mostly to lower fair value net gains in the first half of 2025 on SBIC investments compared to the same period in 2024.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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![image_28a.jpg](image_28a.jpg)

***Noninterest Expense***

*<u>Q2-2025 vs Q1</u>*<u>-</u>*<u>2025</u>*

Noninterest expense increased by $2.2 million to $185.9 million for the second quarter from $183.7 million for the first quarter due mainly to increases of $2.1 million in insurance and assessments and $1.9 million in compensation expense, offset partially by a decrease of $2.0 million in information technology and data processing expenses. Insurance assessments increased mainly due to lower FDIC assessment and FDIC expense true-ups in the first quarter. Compensation expense increased mainly driven by higher incentive and equity compensation reversals related to staff exits in the prior quarter. Information technology and data processing decreased mainly driven by lower software subscription costs and certain expense true-ups.

*<u>YTD June 30, 2025 vs YTD June 30, 2024</u>*

Noninterest expense decreased by $44.6 million to $369.5 million for the six-month period ended June 30, 2025 due mainly to decreases of $30.2 million in insurance and assessments, $9.0 million in customer related expenses, $4.9 million in occupancy, $3.4 million in compensation expense, and $13.1 million in all of the other expense categories, offset partially by an increase of $12.7 million in acquisition, integration and reorganization costs, as the prior-year period included a reversal of previously accrued merger-related costs due to lower actual expenses and there are no merger-related costs in the current year. Insurance and assessment decreased primarily due to incremental FDIC special assessments recorded in the first quarter of 2024, resulting from higher assessment rates. Customer related expense decreased due to lower earnings credit rate expenses, which were impacted by the lower federal funds rate. Occupancy decreased reflecting cost savings from branch consolidations following the merger. Compensation expense decreased primarily driven by reduced headcount following the merger.

***Income Taxes***

*<u>Q2-2025 vs Q1</u>*<u>-</u>*<u>2025</u>*

Income tax expense of $19.5 million was recorded for the second quarter resulting in an effective tax rate of 40.7% compared to income tax expense of $19.5 million and an effective tax rate of 26.7% for the first quarter.

The 40.7% effective tax rate in the second quarter of 2025 included a one-time non-cash income tax expense of $9.8 million due primarily to the revaluation of deferred tax assets ("DTA") related to the California state tax changes passed as part of the 2025 California budget enacted on June 30, 2025 and effective retroactively to January 1, 2025. We expect our tax rate going forward to be positively impacted by this state tax rule change.

*<u>YTD June 30, 2025 vs YTD June 30, 2024</u>*

Income tax expense of $39.0 million was recorded for the six-month period ended June 30, 2025 resulting in an effective tax rate of 32.2% compared to income tax expense of $25.9 million and an effective tax rate of 29.7% for the comparable period in 2024. The higher 2025 year-to-date effective tax rate was due primarily to the one-time non-cash tax expense DTA revaluation recorded in the second quarter of 2025.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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![image_28a.jpg](image_28a.jpg)

**BALANCE SHEET HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,** | **March 31,** | **June 30,** | **Increase (Decrease)** | **Increase (Decrease)** |
| **<u>Selected Balance Sheet Items</u>** | **2025** | **2025** | **2024** | **QoQ** | **YoY** |
|  | ***(In thousands)*** | ***(In thousands)*** | ***(In thousands)*** | ***(In thousands)*** | ***(In thousands)*** |
| Cash and cash equivalents | $2353552 | $2343889 | $2698810 | $9663 | $(345258) |
| Securities available-for-sale | 2246174 | 2334058 | 2244031 | (87884) | 2143 |
| Securities held-to-maturity | 2316725 | 2311912 | 2296708 | 4813 | 20017 |
| Loans held for sale | 465571 | 25797 | 1935455 | 439774 | (1469884) |
| Loans and leases held for investment | 24245893 | 24126527 | 23228909 | 119366 | 1016984 |
| Total loans | 24711464 | 24152324 | 25164364 | 559140 | (452900) |
| Total assets | 34250453 | 33779918 | 35243839 | 470535 | (993386) |
| Noninterest-bearing deposits | $7441116 | $7593950 | $7825007 | $(152834) | $(383891) |
| Total deposits | 27528433 | 27193191 | 28804450 | 335242 | (1276017) |
| Borrowings | 1917180 | 1670782 | 1440875 | 246398 | 476305 |
| Total liabilities | 30823610 | 30258262 | 31835991 | 565348 | (1012381) |
| Total stockholders' equity | 3426843 | 3521656 | 3407848 | (94813) | 18995 |

---

***Securities***

Securities available-for-sale ("AFS") decreased by $87.9 million during the second quarter to $2.2 billion at June 30, 2025. The decrease was primarily driven by $109.3 million of principal paydowns, $2.5 million of maturities, and $1.8 million of net amortization, offset partially by $18.3 million of purchases and an $8.2 million increase in the fair value of AFS securities. As of June 30, 2025, AFS securities had aggregate unrealized net after-tax losses in accumulated other comprehensive income (loss) ("AOCI") of $166.6 million. These AFS unrealized net losses related primarily to slightly lower interest rates quarter-over-quarter and the resulting impact on valuations.

The balance of securities held-to-maturity ("HTM") increased by $4.8 million in the second quarter to $2.3 billion at June 30, 2025. As of June 30, 2025, HTM securities had aggregate unrealized net after-tax losses in AOCI of $145.9 million remaining from the balance established at the time of transfer from AFS.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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![image_28a.jpg](image_28a.jpg)

***Loans and Leases***

The following table sets forth the composition, by loan category, of our loan and lease portfolio held for investment as of the dates indicated:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| **<u>Composition of Loans and Leases</u>** |  |  |  |  |  |
| Real estate mortgage: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | $4369401 | $4489543 | $4578772 | $4557939 | $4722585 |
| &nbsp;&nbsp;&nbsp;Multi-family | 6280791 | 6216084 | 6041713 | 6009280 | 5984930 |
| &nbsp;&nbsp;&nbsp;Other residential | 3157616 | 2787031 | 2807174 | 2767187 | 2866085 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total real estate mortgage | 13807808 | 13492658 | 13427659 | 13334406 | 13573600 |
| Real estate construction and land: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 381449 | 733684 | 799131 | 836902 | 784166 |
| &nbsp;&nbsp;&nbsp;Residential | 1920642 | 2127354 | 2373162 | 2622507 | 2573431 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total real estate construction and land | 2302091 | 2861038 | 3172293 | 3459409 | 3357597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate | 16109899 | 16353696 | 16599952 | 16793815 | 16931197 |
| Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-based | 2462351 | 2305325 | 2087969 | 2115311 | 1968713 |
| &nbsp;&nbsp;&nbsp;Venture capital | 2002601 | 1733074 | 1537776 | 1353626 | 1456122 |
| &nbsp;&nbsp;&nbsp;Other commercial | 3288305 | 3340400 | 3153084 | 2850535 | 2446974 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 7753257 | 7378799 | 6778829 | 6319472 | 5871809 |
| Consumer | 382737 | 394032 | 402882 | 414490 | 425903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investment | $24245893 | $24126527 | $23781663 | $23527777 | $23228909 |
| Total unfunded loan commitments | $4673596 | $4858960 | $4887690 | $5008449 | $5256473 |
| **Composition as % of Total** |  |  |  |  |  |
|  **<u>Loans and Leases</u>** |  |  |  |  |  |
| Real estate mortgage: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 18% | 19% | 19% | 19% | 20% |
| &nbsp;&nbsp;&nbsp;Multi-family | 26% | 26% | 26% | 25% | 26% |
| &nbsp;&nbsp;&nbsp;Other residential | 13% | 11% | 12% | 12% | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total real estate mortgage | 57% | 56% | 57% | 56% | 58% |
| Real estate construction and land: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 1% | 3% | 3% | 4% | 4% |
| &nbsp;&nbsp;&nbsp;Residential | 8% | 9% | 10% | 11% | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total real estate construction and land | 9% | 12% | 13% | 15% | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate | 66% | 68% | 70% | 71% | 73% |
| Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-based | 10% | 9% | 9% | 9% | 8% |
| &nbsp;&nbsp;&nbsp;Venture capital | 8% | 7% | 6% | 6% | 6% |
| &nbsp;&nbsp;&nbsp;Other commercial | 14% | 14% | 13% | 12% | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 32% | 30% | 28% | 27% | 25% |
| Consumer | 2% | 2% | 2% | 2% | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investment | 100% | 100% | 100% | 100% | 100% |

---

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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![image_28a.jpg](image_28a.jpg)

Total loans and leases held for investment increased by $119.4 million in the second quarter and totaled $24.2 billion at June 30, 2025. The increase in loans and leases held for investment was due primarily to increased balances in the other residential real estate mortgage, venture capital, and asset-based loan portfolios, offset partially by decreases in the real estate construction and land segment and the commercial real estate mortgage loan portfolio partly driven by the transfer of loans to held for sale. In the second quarter, $30.5 million of loans were sold and $476.2 million transferred to held for sale at a lower of cost or market value of $441.2 million. While many of the loans being sold have sufficient collateral values, they have attributes that drive credit migration, and as a result we have commenced sales process for these loans. Loan originations including production, purchased loans, and unfunded new commitments were $2.2 billion in the second quarter with a weighted average interest rate on production of 7.29%.

Total loans and leases held for sale increased by $439.8 million in the second quarter and totaled $465.6 million at June 30, 2025. The increase in loans held for sale was primarily driven by the transfer as discussed above related to pending strategic loan sales commenced in the second quarter.

***Credit Quality***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,** | **March 31,** | **December 31,** | **September 30,** | **June 30,** |
| **<u>Asset Quality Information and Ratios</u>** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| **Delinquent loans and leases held for** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**investment:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;30 to 89 days delinquent | $53900 | $100664 | $91347 | $52927 | $27962 |
| &nbsp;&nbsp;&nbsp;&nbsp;90+ days delinquent | 95566 | 99976 | 88846 | 72037 | 55792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total delinquent loans and leases | $149466 | $200640 | $180193 | $124964 | $83754 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total delinquent loans and leases to |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;loans and leases held for investment | 0.62% | 0.83% | 0.76% | 0.53% | 0.36% |
| **Nonperforming assets, excluding loans** |  |  |  |  |  |
| &nbsp;&nbsp;**held for sale:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual loans and leases | $167516 | $213480 | $189605 | $168341 | $117070 |
| &nbsp;&nbsp;&nbsp;&nbsp;90+ days delinquent loans and still |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;accruing |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming loans and |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;leases ("NPLs") | 167516 | 213480 | 189605 | 168341 | 117070 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreclosed assets, net | 7806 | 5474 | 9734 | 8661 | 13302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming assets ("NPAs") | $175322 | $218954 | $199339 | $177002 | $130372 |
| Classified loans and leases held for |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;investment | $656556 | $764723 | $563502 | $533591 | $415498 |
| Special mention loans and leases held for |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;investment | $661568 | $937014 | $1097315 | $711888 | $680663 |
| Allowance for loan and lease losses | $229344 | $234986 | $239360 | $254345 | $247762 |
| Allowance for loan and lease losses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;to NPLs | 136.91% | 110.07% | 126.24% | 151.09% | 211.64% |
| NPLs to loans and leases held for |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;investment | 0.69% | 0.88% | 0.80% | 0.72% | 0.50% |
| NPAs to total assets | 0.51% | 0.65% | 0.59% | 0.53% | 0.37% |
| Classified loans and leases to loans |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;and leases held for investment | 2.71% | 3.17% | 2.37% | 2.27% | 1.79% |
| Special mention loans and leases to loans |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;and leases held for investment | 2.73% | 3.88% | 4.61% | 3.03% | 2.93% |

---

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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![image_28a.jpg](image_28a.jpg)

The overall quality of our loan portfolio remains strong, supported by disciplined underwriting, borrower strength, and robust credit metrics. Credit quality metrics improved from the first quarter, primarily due to the transfer of loans to HFS in connection with the pending strategic loan sales. These sales and transfers contributed to broad-based improvements across key credit quality metrics. Nonperforming, classified, and special mention loans and leases as a percentage of total loans and leases held for investment decreased 19 basis points, 46 basis points, and 115 basis points, respectively.

At June 30, 2025, total delinquent loans and leases were $149.5 million, compared to $200.6 million at March 31, 2025. The $51.2 million decrease in total delinquent loans was due mainly to a decrease in the 30 to 89 days delinquent category of $48.9 million in commercial real estate mortgage loans, offset partially by an increase of $5.7 million in other residential real estate mortgage loans. In the 90 or more days delinquent category, there were decreases of $8.4 million in other residential real estate mortgage loans and $3.8 million in other commercial loans, offset partially by an increase of $9.0 million in commercial real estate mortgage loans. Total delinquent loans and leases as a percentage of loans and leases held for investment decreased to 0.62% at June 30, 2025 from 0.83% at March 31, 2025.

At June 30, 2025, nonperforming loans and leases were $167.5 million, compared to $213.5 million at March 31, 2025. During the second quarter, nonperforming loans and leases decreased by $46.0 million due to transfers to accrual status of $16.3 million, charge-offs of $7.2 million, transfers to loans HFS of $5.7 million, and payoffs and paydowns of $29.3 million, offset partially by additions of $12.5 million.

Nonperforming loans and leases as a percentage of loans and leases held for investment decreased to 0.69% at June 30, 2025 from 0.88% at March 31, 2025.

At June 30, 2025, nonperforming assets were $175.3 million, or 0.51% of total assets, compared to $219.0 million, or 0.65% of total assets, as of March 31, 2025. At June 30, 2025, nonperforming assets included $7.8 million of foreclosed assets, consisting primarily of single-family residences.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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![image_28a.jpg](image_28a.jpg)

***Allowance for Credit Losses – Loans***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **<u>Allowance for Credit Losses - Loans</u>** | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| **Allowance for loan and lease losses** |  |  |  |  |  |
| &nbsp;&nbsp;**("ALLL"):** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Balance at beginning of period | $234986 | $239360 | $291503 | $239360 | $281687 |
| &nbsp;&nbsp;&nbsp;Charge-offs | (46948) | (16551) | (58070) | (63499) | (63084) |
| &nbsp;&nbsp;&nbsp;Recoveries | 2726 | 2477 | 2329 | 5203 | 6159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | (44222) | (14074) | (55741) | (58296) | (56925) |
| &nbsp;&nbsp;&nbsp;Provision for loan losses | 38580 | 9700 | 12000 | 48280 | 23000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balance at end of period | $229344 | $234986 | $247762 | $229344 | $247762 |
| **Reserve for unfunded loan commitments** |  |  |  |  |  |
| &nbsp;&nbsp;**("RUC"):** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Balance at beginning of period | $29571 | $29071 | $28571 | $29071 | $29571 |
| &nbsp;&nbsp;&nbsp;Provision for credit losses | (350) | 500 | (1000) | 150 | (2000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balance at end of period | $29221 | $29571 | $27571 | $29221 | $27571 |
| **Allowance for credit losses ("ACL") -** |  |  |  |  |  |
| &nbsp;&nbsp;**Loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Balance at beginning of period | $264557 | $268431 | $320074 | $268431 | $311258 |
| &nbsp;&nbsp;&nbsp;Charge-offs | (46948) | (16551) | (58070) | (63499) | (63084) |
| &nbsp;&nbsp;&nbsp;Recoveries | 2726 | 2477 | 2329 | 5203 | 6159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | (44222) | (14074) | (55741) | (58296) | (56925) |
| &nbsp;&nbsp;&nbsp;Provision for credit losses | 38230 | 10200 | 11000 | 48430 | 21000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balance at end of period | $258565 | $264557 | $275333 | $258565 | $275333 |
| ALLL to loans and leases held for |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investment | 0.95% | 0.97% | 1.07% | 0.95% | 1.07% |
| ACL to loans and leases held for |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investment | 1.07% | 1.10% | 1.19% | 1.07% | 1.19% |
| ACL to NPLs | 154.35% | 123.93% | 235.19% | 154.35% | 235.19% |
| ACL to NPAs | 147.48% | 120.83% | 211.19% | 147.48% | 211.19% |
| Annualized net charge-offs to average |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;loans and leases | 0.72% | 0.24% | 0.89% | 0.49% | 0.45% |

---

The allowance for credit losses - loans, which includes the reserve for unfunded loan commitments, totaled $258.6 million, or 1.07% of total loans and leases, at June 30, 2025, compared to $264.6 million, or 1.10% of total loans and leases, at March 31, 2025. The $6.0 million decrease in the allowance was due to net charge-offs of $44.2 million, offset partially by a $38.2 million provision.

During the second quarter, $506.7 million of loans were either sold or transferred to HFS in anticipation of being sold. As a result of the transfer, we recognized charge-offs totaling $36.9 million. When taking into consideration the reserve associated with these loans at March 31, 2025, the second quarter provision impact from the transfer was $26.3 million.

During the second quarter, we also recorded a provision of $11.9 million that consisted of a $12.3 million provision associated with the ALLL, offset partially by a $0.4 million reversal of the RUC commitments.

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At June 30, 2025, ACL ratio was 1.07% compared to 1.10% at March 31, 2025. The decrease in the ACL coverage ratio was driven by the transfer of loans to HFS which improved the overall credit metrics of the portfolio, lower specific reserves, and improved portfolio mix driven by growth in loan segments with lower expected credit losses.

Our ability to absorb credit losses is also bolstered by (i) $112.9 million of loss coverage from the credit-linked notes, pursuant to which the bank sold the first 5% of any losses on $2.3 billion of single-family residential mortgage loans in our portfolio; and (ii) unearned credit marks of $19.2 million on approximately $1.5 billion of purchased loans without credit deterioration. When the loss coverage from the credit-linked notes and unearned credit marks is added to our allowance for credit losses, this provides additional economic coverage on top of our ACL ratio. We refer to this adjusted ACL ratio as our economic coverage ratio<sup>(1)</sup>, which equaled 1.61% of total loans and leases at June 30, 2025 compared to 1.66% at March 31, 2025.

The ACL coverage of nonperforming loans and leases was 154% at June 30, 2025 compared to 124% at March 31, 2025.

Net charge-offs were 0.72% of average loans and leases (annualized) for the second quarter, compared to 0.24% for the first quarter. The increase in the second quarter was primarily attributable to $36.9 million of net charge-offs from loans transferred to HFS for the pending sale.

*(1) Non-GAAP measure; refer to section 'Non-GAAP Measures'*

***Deposits and Client Investment Funds***

The following table sets forth the composition of our deposits at the dates indicated:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| **<u>Composition of Deposits</u>** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing checking | $7441116 | $7593950 | $7719913 | $7811796 | $7825007 |
| &nbsp;&nbsp;&nbsp;Interest-bearing: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Checking | 7974452 | 7747051 | 7610705 | 7539899 | 7309833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market | 5375080 | 5367788 | 5361635 | 5039607 | 4837025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings | 1932906 | 1999062 | 1933232 | 1992364 | 2040461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-brokered | 2492890 | 2490639 | 2488217 | 2451340 | 2758067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokered | 2311989 | 1994701 | 2078207 | 1993263 | 4034057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total time deposits | 4804879 | 4485340 | 4566424 | 4444603 | 6792124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing | 20087317 | 19599241 | 19471996 | 19016473 | 20979443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | $27528433 | $27193191 | $27191909 | $26828269 | $28804450 |
| **Composition as % of** |  |  |  |  |  |
| **<u>Total Deposits</u>** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing checking | 27% | 28% | 28% | 29% | 27% |
| &nbsp;&nbsp;&nbsp;Interest-bearing: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Checking | 29% | 29% | 28% | 28% | 25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market | 20% | 20% | 20% | 19% | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings | 7% | 7% | 7% | 7% | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-brokered | 9% | 9% | 9% | 9% | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokered | 8% | 7% | 8% | 8% | 14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total time deposits | 17% | 16% | 17% | 17% | 24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing | 73% | 72% | 72% | 71% | 73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 100% | 100% | 100% | 100% | 100% |

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Total deposits increased by $335.2 million to $27.5 billion at June 30, 2025 from $27.2 billion at March 31, 2025 driven by an increase in interest-bearing deposits of $488.1 million, offset partially by a decrease in noninterest-bearing deposits of $152.8 million. Interest-bearing deposits increased due mainly to higher brokered time deposits of $317.3 million and higher checking accounts of $227.4 million, offset partially by lower savings accounts of $66.2 million.

Noninterest-bearing checking totaled $7.4 billion and represented 27% of total deposits at June 30, 2025, compared to $7.6 billion, or 28% of total deposits, at March 31, 2025.

Uninsured and uncollateralized deposits of $7.6 billion represented 27% of total deposits at June 30, 2025 compared to uninsured and uncollateralized deposits of $7.4 billion, or 27% of total deposits, at March 31, 2025.

In addition to deposit products, we also offer alternative, non-depository corporate treasury solutions for select clients to invest excess liquidity. These off-balance sheet client funds totaled $1.5 billion as of June 30, 2025, compared to $1.6 billion as of March 31, 2025.

These alternative options include investments managed by BofCal Asset Management Inc. ("BAM"), our registered investment advisor subsidiary, and third-party sweep products. Total off-balance sheet client investment funds were $1.5 billion as of June 30, 2025, of which $718.4 million was managed by BAM.

***Borrowings***

Borrowings increased by $246.4 million to $1.9 billion at June 30, 2025 from $1.7 billion at March 31, 2025 mainly due to higher FHLB borrowings of $320.0 million and higher short-term borrowings of $100.0 million, offset partially by the payoff of $174.0 million of Senior Notes. Long-term FHLB advances of $400.0 million were opportunistically added during the quarter at a weighted average rate of 3.81%.

***Equity***

During the second quarter, total stockholders' equity decreased by $94.8 million to $3.4 billion and tangible common equity<sup>(1)</sup> decreased by $87.8 million to $2.6 billion at June 30, 2025. The decrease in total stockholders' equity for the second quarter resulted primarily from the repurchase of common stock of $111.5 million and common and preferred stock dividends of $26.2 million, offset partially by net earnings of $28.4 million and a decrease in the unrealized after-tax net loss in AOCI for AFS and HTM securities of $11.9 million.

At June 30, 2025, book value per common share increased to $18.58 compared to $18.17 at March 31, 2025, and tangible book value per common share<sup>(1)</sup> increased to $16.46 compared to $16.12 at March 31, 2025.

During the second quarter of 2025, common stock repurchased under the Company's stock repurchase program totaled 8,809,814 shares at a weighted average price per share of $12.65, or $111.5 million in the aggregate. For the six months ended June 30, 2025, repurchases of Company common stock totaled 11,494,637 shares at a weighted average price per share of $13.05, or $150.0 million in the aggregate. As of June 30, 2025, the Company had $150.0 million remaining under the current stock repurchase authorization.

*(1) Non-GAAP measure; refer to section 'Non-GAAP Measures'*

<sup>•</sup>

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**CAPITAL AND LIQUIDITY**

Capital ratios remain strong with total risk-based capital at 16.32% and a tier 1 leverage ratio of 9.74% at June 30, 2025.

The following table sets forth our regulatory capital ratios as of the dates indicated:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| **<u>Capital Ratios</u>**<sup>(1)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Banc of California, Inc.** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total risk-based capital ratio | 16.32% | 16.93% | 17.05% | 17.00% | 16.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 risk-based capital ratio | 12.30% | 12.86% | 12.97% | 12.88% | 12.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equity tier 1 capital ratio | 9.92% | 10.45% | 10.55% | 10.46% | 10.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 leverage ratio | 9.74% | 10.19% | 10.15% | 9.83% | 9.51% |
| &nbsp;&nbsp;&nbsp;**Banc of California** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total risk-based capital ratio | 15.60% | 16.22% | 16.65% | 16.61% | 16.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 risk-based capital ratio | 13.17% | 13.74% | 14.17% | 14.08% | 13.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equity tier 1 capital ratio | 13.17% | 13.74% | 14.17% | 14.08% | 13.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 leverage ratio | 10.42% | 10.88% | 11.08% | 10.74% | 10.38% |

---

______________

(1) June 30, 2025 capital ratios are preliminary.

At June 30, 2025, cash and cash equivalents increased by $9.7 million to $2.4 billion from $2.3 billion at March 31, 2025.

Our immediately available cash and cash equivalents (excluding restricted cash) were $2.2 billion. Combined with total available borrowing capacity of $10.6 billion and unpledged AFS securities of $2.1 billion, total available liquidity was $14.8 billion at the end of the second quarter.

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**Conference Call**

The Company will host a conference call to discuss its second quarter 2025 financial results at 10:00 a.m. Pacific Time (PT) on Thursday, July 24, 2025. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 7565369. A live audio webcast will also be available, and the webcast link will be posted on the Company's Investor Relations website at www.bancofcal.com/investor. The slide presentation for the call will also be available on the Company's Investor Relations website prior to the call. A replay of the call will be made available approximately one hour after the call has ended on the Company's Investor Relations website at www.bancofcal.com/investor or by dialing (877) 344-7529 and referencing event code 6113846.

**About Banc of California, Inc.**

Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $34 billion in assets and the parent company of Banc of California. Banc of California is one of the nation's premier relationship-based business banks, providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California is the largest independent bank headquartered in Los Angeles and the third largest bank headquartered in California and offers a broad range of loan and deposit products and services through 80 full-service branches located throughout California and in Denver, Colorado, and Durham, North Carolina, as well as through regional offices nationwide. The bank also provides full-stack payment processing solutions through its subsidiary, Deepstack Technologies, and serves the Community Association Management industry nationwide with its technology-forward platform, SmartStreet*™*. The bank is committed to its local communities through the Banc of California Charitable Foundation, and by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. Member FDIC. For more information, please visit us at www.bancofcal.com.

**Forward-Looking Statements**

This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, liquidity and capital ratios and other non-historical statements. Words or phrases such as "believe," "will," "should," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "plans," "strategy," or similar expressions are intended to identify these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by the Company with the SEC. The Company undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made, except as required by law.

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Factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to: (i) changes in general economic conditions, either nationally or in our market areas, including the impact of tariffs, supply chain disruptions, and the risk of recession or an economic downturn; (ii) changes in the interest rate environment, including the recent and potential future changes in the FRB benchmark rate, which could adversely affect our revenue and expenses, the value of assets and obligations, the realization of deferred tax assets, the availability and cost of capital and liquidity, and the impacts of continuing or renewed inflation; (iii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of our underwriting practices and the risk of fraud, any of which may lead to increased loan delinquencies, losses, and non-performing assets, and may result in our allowance for credit losses not being adequate; (iv) fluctuations in the demand for loans, and fluctuations in commercial and residential real estate values in our market area; (v) the quality and composition of our securities portfolio; (vi) our ability to develop and maintain a strong core deposit base, including among our venture banking clients, or other low cost funding sources necessary to fund our activities particularly in a rising or high interest rate environment; (vii) the rapid withdrawal of a significant amount of demand deposits over a short period of time; (viii) the costs and effects of litigation; (ix) risks related to the Company's acquisitions, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; and our inability to achieve expected revenues, cost savings, synergies, and other benefits; (x) results of examinations by regulatory authorities of the Company and the possibility that any such regulatory authority may, among other things, limit our business activities, restrict our ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase our allowance for credit losses, result in write-downs of asset values, restrict our ability or that of our bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xi) legislative or regulatory changes that adversely affect our business, including changes in tax laws and policies, accounting policies and practices, privacy laws, and regulatory capital or other rules; (xii) the risk that our enterprise risk management framework may not be effective in mitigating risk and reducing the potential for losses; (xiii) errors in estimates of the fair values of certain of our assets and liabilities, as well as the value of collateral supporting our loans, which may result in significant changes in valuation or recoveries; (xiv) failures or security breaches with respect to the network, applications, vendors and computer systems on which we depend, including due to cybersecurity threats; (xv) our ability to attract and retain key members of our senior management team; (xvi) the effects of climate change, severe weather events, natural disasters such as earthquakes and wildfires, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; (xvii) the impact of bank failures or other adverse developments at other banks on general depositor and investor sentiment regarding the stability and liquidity of banks; (xviii) the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; (xix) our existing indebtedness, together with any future incurrence of additional indebtedness, could adversely affect our ability to raise additional capital and to meet our debt obligations; (xx) the risk that we may incur significant losses on future asset sales or may not be able to execute anticipated asset sales; and (xxi) other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services and the other risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and from time to time in other documents that we file with or furnish to the SEC.

**Non-GAAP Financial Measures**

Included in this press release are certain non-GAAP financial measures, such as tangible common equity, tangible book value per common share, return on average tangible common equity, adjusted return on average tangible common equity, adjusted net earnings, adjusted return on average assets, pre-tax pre-provision income, efficiency ratio, and economic coverage ratio, designed to complement the financial information presented in accordance with U.S. GAAP because management believes such measures are useful to investors. These non-GAAP financial measures should be considered only as supplemental to, and not superior to, financial measures provided in accordance with GAAP. Please refer to the "Non-GAAP Measures" section of this release for additional detail including reconciliations of the non-GAAP financial measures included in this press release to the most directly comparable financial measures prepared in accordance with GAAP.

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---

| |
|:---|
| &nbsp;&nbsp;&nbsp;**Investor Relations Inquiries:** |
| &nbsp;&nbsp;&nbsp;Banc of California, Inc. |
| &nbsp;&nbsp;&nbsp;(855) 361-2262 |
| &nbsp;&nbsp;&nbsp;Jared Wolff, (310) 424-1230 |
| &nbsp;&nbsp;Joe Kauder, (310) 844-5224 |
| &nbsp;&nbsp;&nbsp;Ann DeVries, (646) 376-7011 |
| &nbsp;&nbsp;&nbsp;**Media Contact:** |
| &nbsp;&nbsp;&nbsp;Debora Vrana, Banc of California |
| &nbsp;&nbsp;&nbsp;(213) 533-3122 |
| &nbsp;&nbsp;&nbsp;Deb.Vrana@bancofcal.com |
| &nbsp;&nbsp;**Source:** Banc of California, Inc. |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)** | **CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)** | **CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)** | | | |
| | **June 30,** | **March 31,** | **December 31,** | **September 30,** | **June 30,** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** |
| **ASSETS:** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| Cash and due from banks | $222210 | $215591 | $192006 | $251869 | $203467 |
| Interest-earning deposits in financial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;institutions | 2131342 | 2128298 | 2310206 | 2302358 | 2495343 |
| &nbsp;&nbsp;**Total cash and cash equivalents** | 2353552 | 2343889 | 2502212 | 2554227 | 2698810 |
| Securities available-for-sale | 2246174 | 2334058 | 2246839 | 2300284 | 2244031 |
| Securities held-to-maturity | 2316725 | 2311912 | 2306149 | 2301263 | 2296708 |
| FRB and FHLB stock | 162243 | 155330 | 147773 | 145123 | 132380 |
| **Total investment securities** | 4725142 | 4801300 | 4700761 | 4746670 | 4673119 |
| **Loans held for sale** | 465571 | 25797 | 26331 | 28639 | 1935455 |
| Loans and leases held for investment | 24245893 | 24126527 | 23781663 | 23527777 | 23228909 |
| Allowance for loan and lease losses | (229344) | (234986) | (239360) | (254345) | (247762) |
| &nbsp;&nbsp;**Total loans and leases held for** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**investment, net** | 24016549 | 23891541 | 23542303 | 23273432 | 22981147 |
| Equipment leased to others under |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;operating leases | 288692 | 295032 | 307188 | 314998 | 335968 |
| Premises and equipment, net | 138032 | 140347 | 142546 | 143200 | 145734 |
| Bank owned life insurance | 346142 | 342810 | 339517 | 343212 | 341779 |
| Goodwill | 214521 | 214521 | 214521 | 216770 | 215925 |
| Intangible assets, net | 118930 | 125937 | 132944 | 140562 | 148894 |
| Deferred tax asset, net | 691535 | 702323 | 720587 | 706849 | 738534 |
| Other assets | 891787 | 896421 | 913954 | 964054 | 1028474 |
| &nbsp;&nbsp;**Total assets** | $34250453 | $33779918 | $33542864 | $33432613 | $35243839 |
| **LIABILITIES:** |  |  |  |  |  |
| Noninterest-bearing deposits | $7441116 | $7593950 | $7719913 | $7811796 | $7825007 |
| Interest-bearing deposits | 20087317 | 19599241 | 19471996 | 19016473 | 20979443 |
| &nbsp;&nbsp;**Total deposits** | 27528433 | 27193191 | 27191909 | 26828269 | 28804450 |
| Borrowings | 1917180 | 1670782 | 1391814 | 1591833 | 1440875 |
| Subordinated debt | 949213 | 944908 | 941923 | 942151 | 939287 |
| Accrued interest payable and other |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;liabilities | 428784 | 449381 | 517269 | 574162 | 651379 |
| &nbsp;&nbsp;**Total liabilities** | 30823610 | 30258262 | 30042915 | 29936415 | 31835991 |
| **STOCKHOLDERS' EQUITY:** |  |  |  |  |  |
| Preferred stock | 498516 | 498516 | 498516 | 498516 | 498516 |
| Common stock | 1474 | 1561 | 1586 | 1586 | 1583 |
| Class B non-voting common stock | 5 | 5 | 5 | 5 | 5 |
| Non-voting common stock equivalents | 98 | 98 | 98 | 98 | 101 |
| Additional paid-in-capital | 3609109 | 3732376 | 3785725 | 3802314 | 3813312 |
| Retained deficit | (369142) | (387580) | (431201) | (478173) | (477010) |
| Accumulated other comprehensive |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;loss, net | (313217) | (323320) | (354780) | (328148) | (428659) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total stockholders' equity** | 3426843 | 3521656 | 3499949 | 3496198 | 3407848 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders'** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**equity** | $34250453 | $33779918 | $33542864 | $33432613 | $35243839 |
| Common shares outstanding (1) | 157647137 | 166403086 | 168825656 | 168879566 | 168875712 |

---

______________

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)** | **CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)** | **CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)** | | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
|  | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | ***(In thousands, except per share amounts)*** | ***(In thousands, except per share amounts)*** | ***(In thousands, except per share amounts)*** | ***(In thousands, except per share amounts)*** | ***(In thousands, except per share amounts)*** |
| **Interest income:** |  |  |  |  |  |
| Loans and leases | $362303 | $346103 | $388853 | $708406 | $774318 |
| Investment securities | 37616 | 37862 | 33836 | 75478 | 68139 |
| Deposits in financial institutions | 20590 | 22690 | 39900 | 43280 | 98836 |
| &nbsp;&nbsp;&nbsp;Total interest income | 420509 | 406655 | 462589 | 827164 | 941293 |
| **Interest expense:** |  |  |  |  |  |
| Deposits | 144940 | 140530 | 186106 | 285470 | 380913 |
| Borrowings | 20021 | 18421 | 30311 | 38442 | 68435 |
| Subordinated debt | 15332 | 15340 | 16684 | 30672 | 33355 |
| &nbsp;&nbsp;&nbsp;Total interest expense | 180293 | 174291 | 233101 | 354584 | 482703 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net interest income** | 240216 | 232364 | 229488 | 472580 | 458590 |
| Provision for credit losses | 39100 | 9300 | 11000 | 48400 | 21000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for credit losses | 201116 | 223064 | 218488 | 424180 | 437590 |
| **Noninterest income:** |  |  |  |  |  |
| Service charges on deposit accounts | 4456 | 4543 | 4540 | 8999 | 9245 |
| Commissions and fees | 9641 | 9958 | 8629 | 19599 | 16771 |
| Leased equipment income | 10231 | 10784 | 11487 | 21015 | 23203 |
| Gain on sale of loans and leases | 30 | 211 | 1135 | 241 | 687 |
| Dividends and (losses) gains on equity investments | (114) | 2323 | 1166 | 2209 | 4234 |
| Warrant income (loss) | 1227 | (295) | (324) | 932 | (146) |
| LOCOM HFS adjustment | (9) |  | (38) | (9) | 292 |
| Other income | 7171 | 6126 | 3197 | 13297 | 9322 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 32633 | 33650 | 29792 | 66283 | 63608 |
| **Noninterest expense:** |  |  |  |  |  |
| Compensation | 88362 | 86417 | 85914 | 174779 | 178150 |
| Occupancy | 15473 | 15010 | 17455 | 30483 | 35423 |
| Information technology and data processing | 13073 | 15099 | 15459 | 28172 | 30877 |
| Other professional services | 6406 | 4513 | 5183 | 10919 | 10258 |
| Insurance and assessments | 9403 | 7283 | 26431 | 16686 | 46892 |
| Intangible asset amortization | 7159 | 7160 | 8484 | 14319 | 16888 |
| Leased equipment depreciation | 6700 | 6741 | 7511 | 13441 | 15031 |
| Acquisition, integration and reorganization costs |  |  | (12650) |  | (12650) |
| Customer related expense | 26577 | 27751 | 32405 | 54328 | 63324 |
| Loan expense | 4050 | 2930 | 4332 | 6980 | 8823 |
| Other expense | 8666 | 10749 | 13119 | 19415 | 21145 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 185869 | 183653 | 203643 | 369522 | 414161 |
| Earnings before income taxes | 47880 | 73061 | 44637 | 120941 | 87037 |
| Income tax expense | 19495 | 19493 | 14304 | 38988 | 25852 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net earnings** | 28385 | 53568 | 30333 | 81953 | 61185 |
| Preferred stock dividends | 9947 | 9947 | 9947 | 19894 | 19894 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net earnings available to common** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**and equivalent stockholders** | $18438 | $43621 | $20386 | $62059 | $41291 |
| Earnings per common share: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.12 | $0.26 | $0.12 | $0.38 | $0.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.12 | $0.26 | $0.12 | $0.38 | $0.25 |
| Weighted average number of common shares (1)  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;outstanding: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 158354 | 168495 | 168432 | 163396 | 168287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 158462 | 169434 | 168432 | 163667 | 168287 |

---

______________

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

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![image_28a.jpg](image_28a.jpg)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **SELECTED FINANCIAL DATA** | | | | | |
| **(UNAUDITED)** | | | | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **<u>Profitability and Other Ratios</u>** | **2025** | **2025** | **2024** | **2025** | **2024** |
| Return on average assets (1) | 0.34% | 0.65% | 0.34% | 0.49% | 0.34% |
| Adjusted ROAA (1)(2) | 0.69% | 0.65% | 0.34% | 0.67% | 0.36% |
| Return on average equity (1) | 3.32% | 6.16% | 3.59% | 4.75% | 3.63% |
| Return on average tangible common |  |  |  |  |  |
| &nbsp;&nbsp;equity (1)(2) | 3.70% | 7.56% | 4.42% | 5.59% | 4.30% |
| Adjusted return on average tangible |  |  |  |  |  |
| &nbsp;&nbsp;common equity (1)(2) | 8.34% | 7.56% | 4.42% | 7.88% | 4.57% |
| Dividend payout ratio (3) | 83.33% | 36.46% | 83.33% | 52.63% | 80.00% |
| Average yield on loans and leases (1) | 5.93% | 5.90% | 6.18% | 5.92% | 6.13% |
| Average yield on interest-earning assets (1) | 5.42% | 5.39% | 5.65% | 5.41% | 5.60% |
| Average cost of interest-bearing deposits (1) | 2.95% | 2.97% | 3.58% | 2.96% | 3.59% |
| Average total cost of deposits (1) | 2.13% | 2.12% | 2.60% | 2.12% | 2.63% |
| Average cost of interest-bearing liabilities (1) | 3.24% | 3.28% | 3.93% | 3.26% | 3.93% |
| Average total cost of funds (1) | 2.42% | 2.42% | 2.95% | 2.42% | 2.99% |
| Net interest spread | 2.18% | 2.11% | 1.72% | 2.15% | 1.67% |
| Net interest margin (1) | 3.10% | 3.08% | 2.80% | 3.09% | 2.73% |
| Noninterest income to total revenue (4) | 11.96% | 12.65% | 11.49% | 12.30% | 12.18% |
| Noninterest expense to average total |  |  |  |  |  |
| &nbsp;&nbsp;assets (1) | 2.21% | 2.24% | 2.29% | 2.22% | 2.27% |
| Noninterest expense to total revenue (4) | 68.12% | 69.04% | 78.54% | 68.57% | 79.31% |
| Efficiency ratio (2)(5) | 65.50% | 66.35% | 80.15% | 65.92% | 78.50% |
| Loans to deposits ratio | 89.77% | 88.82% | 87.36% | 89.77% | 87.36% |
| Average loans and leases to average deposits | 89.74% | 88.36% | 87.95% | 89.06% | 87.29% |
| Average investment securities to average |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;total assets | 13.98% | 14.21% | 13.00% | 14.09% | 12.78% |
| Average stockholders' equity to average |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;total assets | 10.16% | 10.58% | 9.48% | 10.37% | 9.25% |

---

______________

(1) Annualized.

(2) Non-GAAP measure.

(3) Ratio calculated by dividing dividends declared per common and equivalent share by basic earnings per common and equivalent share.

(4) Total revenue equals the sum of net interest income and noninterest income.

(5) Ratio calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs) by total revenue.

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![image_28a.jpg](image_28a.jpg)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | **BANC OF CALIFORNIA, INC.** | | | | | | | | |
| **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | | | | |
| **(UNAUDITED)** | | | | | | | | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |
| | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| **Assets:** | | | | | | | | | |
| Loans and leases (1) | $24504319 | $362303 | 5.93% | $23788647 | $346103 | 5.90% | $25325578 | $388853 | 6.18% |
| Investment securities | 4719954 | 37616 | 3.20% | 4734037 | 37862 | 3.24% | 4658690 | 33836 | 2.92% |
| Deposits in financial |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;institutions | 1872736 | 20590 | 4.41% | 2088139 | 22690 | 4.41% | 2960292 | 39900 | 5.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;assets | 31097009 | 420509 | 5.42% | 30610823 | 406655 | 5.39% | 32944560 | 462589 | 5.65% |
| Other assets | 2667140 |  |  | 2697562 |  |  | 2889907 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $33764149 |  |  | $33308385 |  |  | $35834467 |  |  |
| **Liabilities and** |  |  |  |  |  |  |  |  |  |
| **Stockholders' Equity:** |  |  |  |  |  |  |  |  |  |
| Interest checking | $7778882 | 52877 | 2.73% | $7343451 | 47879 | 2.64% | $7673902 | 61076 | 3.20% |
| Money market | 5412681 | 33615 | 2.49% | 5415716 | 33003 | 2.47% | 4962567 | 32776 | 2.66% |
| Savings | 1959987 | 12777 | 2.61% | 1948649 | 12857 | 2.68% | 2002670 | 16996 | 3.41% |
| Time | 4569490 | 45671 | 4.01% | 4498268 | 46791 | 4.22% | 6274242 | 75258 | 4.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;deposits | 19721040 | 144940 | 2.95% | 19206084 | 140530 | 2.97% | 20913381 | 186106 | 3.58% |
| Borrowings | 1628584 | 20021 | 4.93% | 1397720 | 18421 | 5.34% | 2013600 | 30311 | 6.05% |
| Subordinated debt | 946740 | 15332 | 6.50% | 942817 | 15340 | 6.60% | 938367 | 16684 | 7.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;liabilities | 22296364 | 180293 | 3.24% | 21546621 | 174291 | 3.28% | 23865348 | 233101 | 3.93% |
| Noninterest-bearing |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;demand deposits | 7583894 |  |  | 7714830 |  |  | 7881620 |  |  |
| Other liabilities | 453748 |  |  | 522753 |  |  | 692149 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 30334006 |  |  | 29784204 |  |  | 32439117 |  |  |
| Stockholders' equity | 3430143 |  |  | 3524181 |  |  | 3395350 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;stockholders' equity | $33764149 |  |  | $33308385 |  |  | $35834467 |  |  |
| Net interest income (1) |  | $240216 |  |  | $232364 |  |  | $229488 |  |
| Net interest spread |  |  | 2.18% |  |  | 2.11% |  |  | 1.72% |
| Net interest margin |  |  | 3.10% |  |  | 3.08% |  |  | 2.80% |
| Total deposits (2) | $27304934 | $144940 | 2.13% | $26920914 | $140530 | 2.12% | $28795001 | $186106 | 2.60% |
| Total funds (3) | $29880258 | $180293 | 2.42% | $29261451 | $174291 | 2.42% | $31746968 | $233101 | 2.95% |

---

______________

(1) Includes net loan discount accretion of $16.1 million, $16.0 million, and $21.8 million for the three months ended June 30, 2025, March 31, 2025, and June 30, 2024.

(2) Total deposits is the sum of total interest-bearing deposits and noninterest-bearing demand deposits. The cost of total deposits is calculated as annualized interest expense on total deposits divided by average total deposits.

(3) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense divided by average total funds.

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![image_28a.jpg](image_28a.jpg)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | **BANC OF CALIFORNIA, INC.** | | | | | |
| **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | **AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID** | |
| **(UNAUDITED)** | | | | | | |
| | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |<br>**Average**<br>**Balance** | **Interest**<br>**Income/**<br>**Expense** | **Average**<br>**Yield/**<br>**Cost** |
| | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| **Assets:** | | | | | | |
| Loans and leases (1) | $24148460 | $708406 | 5.92% | $25422084 | $774318 | 6.13% |
| Investment securities | 4726957 | 75478 | 3.22% | 4690123 | 68139 | 2.92% |
| Deposits in financial |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;institutions | 1979843 | 43280 | 4.41% | 3667630 | 98836 | 5.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;assets | 30855260 | 827164 | 5.41% | 33779837 | 941293 | 5.60% |
| Other assets | 2682266 |  |  | 2907750 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $33537526 |  |  | $36687587 |  |  |
| **Liabilities and** |  |  |  |  |  |  |
| **Stockholders' Equity:** |  |  |  |  |  |  |
| Interest checking | $7562369 | 100756 | 2.69% | $7778540 | 122625 | 3.17% |
| Money market | 5414190 | 66618 | 2.48% | 5350202 | 74127 | 2.79% |
| Savings | 1954349 | 25634 | 2.65% | 2019399 | 35026 | 3.49% |
| Time | 4534076 | 92462 | 4.11% | 6191281 | 149135 | 4.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;deposits | 19464984 | 285470 | 2.96% | 21339422 | 380913 | 3.59% |
| Borrowings | 1513790 | 38442 | 5.12% | 2453003 | 68435 | 5.61% |
| Subordinated debt | 944790 | 30672 | 6.55% | 937686 | 33355 | 7.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;liabilities | 21923564 | 354584 | 3.26% | 24730111 | 482703 | 3.93% |
| Noninterest-bearing |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;demand deposits | 7649000 |  |  | 7783324 |  |  |
| Other liabilities | 488060 |  |  | 781211 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 30060624 |  |  | 33294646 |  |  |
| Stockholders' equity | 3476902 |  |  | 3392941 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;stockholders' equity | $33537526 |  |  | $36687587 |  |  |
| Net interest income (1) |  | $472580 |  |  | $458590 |  |
| Net interest spread |  |  | 2.15% |  |  | 1.67% |
| Net interest margin |  |  | 3.09% |  |  | 2.73% |
| Total deposits (2) | $27113984 | $285470 | 2.12% | $29122746 | $380913 | 2.63% |
| Total funds (3) | $29572564 | $354584 | 2.42% | $32513435 | $482703 | 2.99% |

---

______________

(1) Includes net loan discount accretion of $32.1 million and $44.3 million for the six months ended June 30, 2025 and 2024.

(2) Total deposits is the sum of total interest-bearing deposits and noninterest-bearing demand deposits. The cost of total deposits is calculated as annualized interest expense on total deposits divided by average total deposits.

(3) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense divided by average total funds.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

**BANC OF CALIFORNIA, INC.**

**NON-GAAP MEASURES**

We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles ("GAAP") in this press release, including: tangible common equity, tangible book value per common share, return on average tangible common equity, adjusted return on average tangible common equity, adjusted net earnings, adjusted return on average assets, pre-tax pre-provision income, efficiency ratio, and economic coverage ratio. These non-GAAP measures are used by management in its analysis of the Company's performance.

Tangible common equity is calculated by subtracting preferred stock, as applicable, from total common equity. Return on average tangible common equity is calculated by dividing net earnings available to common stockholders, after adjustment for amortization of intangible assets and any goodwill impairment, by average tangible common equity. Adjusted return on average tangible common equity is calculated by dividing adjusted net earnings available to common stockholders, after adjustment for amortization of intangible assets, any goodwill impairment, and any unusual items, by average tangible common equity. Banking regulators also exclude goodwill and other intangible assets from stockholders' equity when assessing the capital adequacy of a financial institution.

Adjusted net earnings is calculated by adjusting net earnings by unusual, one-time items.

Adjusted return on average assets ("Adjusted ROAA") is calculated by dividing annualized adjusted net earnings, after adjustment for any unusual items, by average assets.

Pre-tax pre-provision income is calculated by subtracting noninterest expense from total revenue, which is the sum of net interest income and noninterest income.

Efficiency ratio is calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs) by total revenue (the sum of net interest income and noninterest income).

Economic coverage ratio is calculated by dividing the allowance for credit losses adjusted for the impact of the credit-linked notes and unearned credit mark from purchase accounting by loans and leases held for investment.

Management believes the presentation of these financial measures adjusting the impact of these items provides useful supplemental information that is essential to a proper understanding of the financial results and operating performance of the Company. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

The following tables provide reconciliations of the non-GAAP measures to financial measures defined by GAAP.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **NON-GAAP MEASURES** | **NON-GAAP MEASURES** | **NON-GAAP MEASURES** | | | |
| **(UNAUDITED)** | | | | | |
| **Tangible Common Equity** | **June 30,** | **March 31,** | **December 31,** | **September 30,** | **June 30,** |
| **<u>and Tangible Book Value Per Share</u>** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | ***(Dollars in thousands, except per share amounts)*** | ***(Dollars in thousands, except per share amounts)*** | ***(Dollars in thousands, except per share amounts)*** | ***(Dollars in thousands, except per share amounts)*** | ***(Dollars in thousands, except per share amounts)*** |
| Stockholders' equity | $3426843 | $3521656 | $3499949 | $3496198 | $3407848 |
| Less: Preferred stock | 498516 | 498516 | 498516 | 498516 | 498516 |
| &nbsp;&nbsp;&nbsp;Total common equity | 2928327 | 3023140 | 3001433 | 2997682 | 2909332 |
| Less: Intangible assets | 333451 | 340458 | 347465 | 357332 | 364819 |
| &nbsp;&nbsp;&nbsp;Tangible common equity | 2594876 | 2682682 | 2653968 | 2640350 | 2544513 |
| Book value per common share (1) | $18.58 | $18.17 | $17.78 | $17.75 | $17.23 |
| Tangible book value per common share (2) | $16.46 | $16.12 | $15.72 | $15.63 | $15.07 |
| Common shares outstanding (3) | 157647137 | 166403086 | 168825656 | 168879566 | 168875712 |

---

______________

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

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

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

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **NON-GAAP MEASURES** | **NON-GAAP MEASURES** | **NON-GAAP MEASURES** | | | |
| **(UNAUDITED)** | | | | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| **Return on Average Tangible** | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **<u>Common Equity ("ROATCE")</u>** | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| Net earnings | $28385 | $53568 | $30333 | $81953 | $61185 |
| Earnings before income taxes |  | $73061 | $44637 |  | $87037 |
| Add: Intangible asset amortization |  | 7160 | 8484 |  | 16888 |
| &nbsp;&nbsp;&nbsp;Adjusted earnings before |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;income taxes used for ROATCE |  | 80221 | 53121 |  | 103925 |
| Adjusted income tax expense (1) |  | 20296 | 15203 |  | 29743 |
| Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Intangible asset amortization | 7159 |  |  | 14319 |  |
| &nbsp;&nbsp;&nbsp;Tax impact of adjustment above (1) | (1655) |  |  | (3311) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustment to net earnings | 5504 |  |  | 11008 |  |
| Adjusted net earnings for ROATCE | 33889 | 59925 | 37918 | 92961 | 74182 |
| Less: Preferred stock dividends | 9947 | 9947 | 9947 | 19894 | 19894 |
| &nbsp;&nbsp;&nbsp;Adjusted net earnings available |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;to common and equivalent |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;stockholders for ROATCE | $23942 | $49978 | $27971 | $73067 | $54288 |
| Average stockholders' equity | $3430143 | $3524181 | $3395350 | $3476902 | $3392941 |
| Less: Average goodwill and intangible |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;assets | 337352 | 344610 | 352934 | 340961 | 356807 |
| Less: Average preferred stock | 498516 | 498516 | 498516 | 498516 | 498516 |
| &nbsp;&nbsp;&nbsp;Average tangible common equity | $2594275 | $2681055 | $2543900 | $2637425 | $2537618 |
| Return on average equity (2) | 3.32% | 6.16% | 3.59% | 4.75% | 3.63% |
| ROATCE (3) | 3.70% | 7.56% | 4.42% | 5.59% | 4.30% |

---

______________

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;common equity.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **NON-GAAP MEASURES** | | | | | |
| **(UNAUDITED)** | | | | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| **Adjusted Return on Average** | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **<u>Tangible Common Equity ("ROATCE")</u>** | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| Net earnings | $28385 | $53568 | $30333 | $81953 | $61185 |
| Earnings before income taxes |  | $73061 | $44637 |  | $87037 |
| Add: Intangible asset amortization |  | 7160 | 8484 |  | 16888 |
| Add: FDIC special assessment |  |  |  |  | 4814 |
| &nbsp;&nbsp;&nbsp;Adjusted earnings before income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;taxes used for adjusted ROATCE |  | 80221 | 53121 |  | 108739 |
| Adjusted income tax expense (1) |  | 20296 | 15203 |  | 31121 |
| Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Intangible asset amortization | 7159 |  |  | 14319 |  |
| &nbsp;&nbsp;&nbsp;Provision for credit losses related to |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;transfer of loans to held for sale | 26289 |  |  | 26289 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total adjustments | 33448 |  |  | 40608 |  |
| &nbsp;&nbsp;&nbsp;Tax impact of adjustments above (1) | (7733) |  |  | (9389) |  |
| &nbsp;&nbsp;&nbsp;Income tax related adjustments | 9792 |  |  | 9792 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustment to net earnings | 35507 |  |  | 41011 |  |
| Adjusted net earnings for adjusted |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;ROATCE | 63892 | 59925 | 37918 | 122964 | 77618 |
| Less: Preferred stock dividends | 9947 | 9947 | 9947 | 19894 | 19894 |
| &nbsp;&nbsp;&nbsp;Adjusted net earnings available to |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;common and equivalent stockholders |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;for adjusted ROATCE | $53945 | $49978 | $27971 | $103070 | $57724 |
| Average stockholders' equity | $3430143 | $3524181 | $3395350 | $3476902 | $3392941 |
| Less: Average goodwill and intangible |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;assets | 337352 | 344610 | 352934 | 340961 | 356807 |
| Less: Average preferred stock | 498516 | 498516 | 498516 | 498516 | 498516 |
| &nbsp;&nbsp;&nbsp;Average tangible common equity | $2594275 | $2681055 | $2543900 | $2637425 | $2537618 |
| Adjusted ROATCE (2) | 8.34% | 7.56% | 4.42% | 7.88% | 4.57% |

---

______________

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

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

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **NON-GAAP MEASURES** | | | | | |
| **(UNAUDITED)** | | | | | |
| **Adjusted Net Earnings, Net Earnings** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| **Available to Common and Equivalent** | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **<u>Stockholders, Diluted EPS, and ROAA</u>** | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| Net earnings | $28385 | $53568 | $30333 | $81953 | $61185 |
| Earnings before income taxes |  | $73061 | $44637 |  | $87037 |
| Add: FDIC special assessment |  |  |  |  | 4814 |
| &nbsp;&nbsp;&nbsp;Adjusted earnings before income taxes |  | 73061 | 44637 |  | 91851 |
| Adjusted income tax expense (1) |  | 19493 | 14304 |  | 26288 |
| Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Provision for credit losses related to |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;transfer of loans to held for sale | 26289 |  |  | 26289 |  |
| &nbsp;&nbsp;&nbsp;Tax impact of adjustments above (1) | (6078) |  |  | (6078) |  |
| &nbsp;&nbsp;&nbsp;Income tax related adjustments | 9792 |  |  | 9792 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to net earnings | 30003 |  |  | 30003 |  |
| Adjusted net earnings | 58388 | 53568 | 30333 | 111956 | 65563 |
| Less: Preferred stock dividends | 9947 | 9947 | 9947 | 19894 | 19894 |
| &nbsp;&nbsp;&nbsp;Adjusted net earnings available to |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;common and equivalent stockholders | $48441 | $43621 | $20386 | $92062 | $45669 |
| Weighted average diluted common shares |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;outstanding | 158462 | 169434 | 168432 | $163667 | $168287 |
| Diluted earnings per common share | $0.12 | $0.26 | $0.12 | $0.38 | $0.25 |
| Adjusted diluted earnings per common |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;share (2) | $0.31 | $0.26 | $0.12 | $0.56 | $0.27 |
| Average total assets | $33764149 | $33308385 | $35834467 | $33537526 | $36687587 |
| Return on average assets ("ROAA") (2) | 0.34% | 0.65% | 0.34% | 0.49% | 0.34% |
| Adjusted ROAA (3) | 0.69% | 0.65% | 0.34% | 0.67% | 0.36% |

---

______________

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

(3) Annualized adjusted net earnings divided by average assets.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **NON-GAAP MEASURES** | | | | | |
| **(UNAUDITED)** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **<u>Pre-Tax Pre-Provision Income</u>** | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| Net interest income (GAAP) | $240216 | $232364 | $229488 | $472580 | $458590 |
| Add: Noninterest income (GAAP) | 32633 | 33650 | 29792 | 66283 | 63608 |
| &nbsp;&nbsp;&nbsp;Total revenues (GAAP) | 272849 | 266014 | 259280 | 538863 | 522198 |
| Less: Noninterest expense (GAAP) | 185869 | 183653 | 203643 | 369522 | 414161 |
| &nbsp;&nbsp;&nbsp;Pre-tax pre-provision income (Non-GAAP) | $86980 | $82361 | $55637 | $169341 | $108037 |

---

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | | | |
| **NON-GAAP MEASURES** | | | | | |
| **(UNAUDITED)** | | | | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **<u>Efficiency Ratio</u>** | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| Noninterest expense | $185869 | $183653 | $203643 | $369522 | $414161 |
| Less: Intangible asset amortization | (7159) | (7160) | (8484) | (14319) | (16888) |
| Less: Acquisition, integration, and |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;reorganization costs |  |  | 12650 |  | 12650 |
| &nbsp;&nbsp;&nbsp;Noninterest expense used for |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;efficiency ratio | $178710 | $176493 | $207809 | $355203 | $409923 |
| Net interest income | $240216 | $232364 | $229488 | $472580 | $458590 |
| Noninterest income | 32633 | 33650 | 29792 | 66283 | 63608 |
| &nbsp;&nbsp;&nbsp;Total revenue | 272849 | 266014 | 259280 | 538863 | 522198 |
| Noninterest expense to total revenue | 68.12% | 69.04% | 78.54% | 68.57% | 79.31% |
| Efficiency ratio (1) | 65.50% | 66.35% | 80.15% | 65.92% | 78.50% |

---

______________

(1) Noninterest expense used for efficiency ratio divided by total revenue.

![jpega.jpg](jpega.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_28a.jpg](image_28a.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **BANC OF CALIFORNIA, INC.** | | | |
| **NON-GAAP MEASURES** | | | |
| **(UNAUDITED)** | | | |
| | **June 30,** | **March 31,** | **June 30,** |
| **<u>Economic Coverage Ratio</u>** | **2025** | **2025** | **2024** |
|  | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** | ***(Dollars in thousands)*** |
| Allowance for credit losses ("ACL) | $258565 | $264557 | $275333 |
| Add: Unearned credit mark from purchase accounting (1) | 19199 | 20870 | 26982 |
| Add: Credit-linked notes (2) | 112887 | 115188 | 122523 |
| &nbsp;&nbsp;&nbsp;Adjusted allowance for credit losses | $390651 | $400615 | $424838 |
| Loans and leases held for investment | $24245893 | $24126527 | $23228909 |
| ACL to loans and leases held for investment (3) | 1.07% | 1.10% | 1.19% |
| Economic coverage ratio (4) | 1.61% | 1.66% | 1.83% |

---

______________

(1) Unearned credit mark from purchase accounting estimated by using the same pro rata split between the credit and yield marks associated with non-PCD loans (purchased loans without credit deterioration at the time of purchase).

(2) Credit-linked notes loss coverage equal to 5% of the unpaid principal balance of the pledged loans.

(3) Allowance for credit losses divided by loans and leases held for investment.

(4) Adjusted allowance for credit losses divided by loans and leases held for investment.

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## Exhibit 99.2

![](investorpresentation_2q2001.jpg)

Investor Presentation Second Quarter 2025 Results Draft v4.5 1/21/24

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Forward-Looking Statements and Other Matters This presentation includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, liquidity and capital ratios and other non-historical statements. Words or phrases such as "believe," "will," "should," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "plans," "strategy," or similar expressions are intended to identify these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by Banc of California, Inc. (the "Company") with the Securities and Exchange Commission ("SEC"). The Company undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made, except as required by law. Factors that could cause actual results to differ materially from the results anticipated or projected include, but are not l imited to: (i) changes in general economic conditions, either nationally or in our market areas, including the impact of tariffs, supply chain disruptions, and the risk of recession or an economic downturn; (ii) changes in the interest rate environment, including the recent and potential future changes in the FRB benchmark rate, which could adversely affect our revenue and expenses, the value of assets and obligations, the realization of deferred tax assets, the availability and cost of capital and liquidity, and the impacts of continuing or renewed inflation; (iii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of our underwriting practices and the risk of fraud, any of which may lead to increased loan delinquencies, losses, and non-performing assets, and may result in our allowance for credit losses not being adequate; (iv) fluctuations in the demand for loans, and fluctuations in commercial and residential real estate values in our market area; (v) the quality and composition of our securities portfolio; (vi) our ability to develop and maintain a strong core deposit base, including among our venture banking clients, or other low cost funding sources necessary to fund our activities particularly in a rising or high interest rate environment; (vii) the rapid withdrawal of a significant amount of demand deposits over a short period of time; (viii) the costs and effects of litigation; (ix) risks related to the Company's acquisitions, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; and our inability to achieve expected revenues, cost savings, synergies, and other benefits; (x) results of examinations by regulatory authorities of the Company and the possibility that any such regulatory authority may, among other things, limit our business activities, restrict our ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase our allowance for credit losses, result in write-downs of asset values, restrict our ability or that of our bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xi) legislative or regulatory changes that adversely affect our business, including changes in tax laws and policies, accounting policies and practices, privacy laws, and regulatory capital or other rules; (xii) the risk that our enterprise risk management framework may not be effective in mitigating risk and reducing the potential for losses; (xiii) errors in estimates of the fair values of certain of our assets and liabilities, as well as the value of collateral supporting our loans, which may result in significant changes in valuation; (xiv) failures or security breaches with respect to the network, applications, vendors and computer systems on which we depend, including due to cybersecurity threats; (xv) our ability to attract and retain key members of our senior management team; (xvi) the effects of climate change, severe weather events, natural disasters such as earthquakes and wildfires, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; (xvii) the impact of bank failures or other adverse developments at other banks on general depositor and investor sentiment regarding the stability and liquidity of banks; (xviii) the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; (xix) our existing indebtedness, together with any future incurrence of additional indebtedness, could adversely affect our ability to raise additional capital and to meet our debt obligations; (xx) the risk that we may incur significant losses on future asset sales or may not be able to execute anticipated asset sales; and (xxi) other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services and the other risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and from time to time in other documents that we file with or furnish to the SEC. Included in this presentation are certain non-GAAP financial measures, such as tangible assets, tangible common equity ratio, tangible book value per common share, adjusted net earnings, adjusted earnings per share, return on average tangible common equity, adjusted return on average tangible common equity, pre-tax pre-provision income, adjusted noninterest expense, adjusted noninterest expense to average assets, efficiency ratio, adjusted efficiency ratio, core deposits, core loans, core loan portfolio growth, economic coverage ratio, and adjusted ACL ratio, designed to complement the financial information presented in accordance with U.S. GAAP because management believes such measures are useful to investors. These non-GAAP financial measures should be considered only as supplemental to, and not superior to, financial measures provided in accordance with GAAP. Please refer to the "Non-GAAP Financial Information" and "Non-GAAP Reconciliation" sections of the appendix of this presentation for additional detail including reconciliations of non-GAAP financial measures included in this presentation to the most directly comparable financial measures prepared in accordance with GAAP. Second Quarter 2025 Earnings \| 2

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2Q25 adjusted EPS(1) of $0.31 up 19% QoQ and 9% annualized total loan growth 1. Denotes a non-GAAP financial measure; see "Non-GAAP Reconciliation" slides in Appendix. 2. Represents core loans excluding HFS LOCOM mark in 2Q25 and does not include HFS loans in 1Q25. Core loans defined as total loans less discontinued areas. Reference page 13 for details. 3. Core deposits defined as total deposits less brokered CDs. Reference page 11 for details. 4. Expected gross proceeds adjusted for FAS 91 and provision impacts.. Financial Highlights EPS Reported EPS of $0.12 Adjusted EPS(1) of $0.31 up over 2.5x YoY NIM 3.10%, up 2bps QoQ and 30 bps YoY Strategic Action Selling ~$507mm of CRE loans with proceeds net of reserve release(4) of 95% Credit Quality NPL, Classified and Special Mention ratios down 19bps, 46bps and 115bps Loan Growth Total loans up 9% annualized, core loans up ~12%(1)(2) Deposits Core deposits(1)(3) stable QoQ Shareholder Value Repurchased $150mm of common shares (6.8% of shares) YTD at VWAP of $13.05 Capital TBVPS(1): $16.46, up 2% QoQ CET 1 ratio: 9.92% Second Quarter 2025 Earnings \| 3 Change 2Q25 1Q25 2Q24 QoQ D YoY D Operating results PTPP(1) $87.0mm $82.4mm $55.6mm 5.6% 56.3% EPS $0.12 $0.26 $0.12 -$0.14 $0.00 Adj. EPS(1) $0.31 $0.26 $0.12 $0.05 $0.19 ROAA 0.34% 0.65% 0.34% -31bps 0 bps Adj. ROAA(1) 0.69% 0.65% 0.34% 4bps 35bps ROATCE(1) 3.70% 7.56% 4.42% -386bps -72bps Adj. ROATCE(1) 8.34% 7.56% 4.42% 78bps 392bps NIM 3.10% 3.08% 2.80% 2bps 30bps Capital TBVPS(1) $16.46 $16.12 $15.07 $0.34 $1.39 CET 1 capital ratio 9.92% 10.45% 10.27% -0.53% -0.35% Credit ACL ratio 1.07% 1.10% 1.19% -0.03% -0.12% Strategic sales of CRE loans drive improved credit quality metrics and further positions balance sheet to grow high quality sustainable earnings

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![](investorpresentation_2q2004.jpg)

Second Quarter 2025 Earnings \| 4 0.37% 0.69% 1Q24 2Q25 +0.32% +65% Adjusted ROAA(3)Adjusted EPS(3) Core Loans(1) $23.9B +7.5% Cost of Funds 2.42% -60 bps NIM 3.10% +44 bps Adjusted NIE / Assets(2) 1.89% -62 bps Cost of Deposits 2.13% -53 bps Note: Growth rates represent variance from 1Q24 to 2Q25 except Adjusted NIE / Assets which represents variance from 4Q23 to 2Q25 Adjusted PTPP(3) 1Q24 2Q25 $57.2mm $87.0mm +40% +52% $0.15 $0.31 1Q24 2Q25 +$0.16 +79%CAGR Our strong execution has led to robust growth across core earnings drivers . . . Profitability and Growth Metrics since 1Q24 4.92% 8.34% 1Q24 2Q25 +3.42% +53% Adjusted ROATCE(3) 1. Adjusted to exclude impact from loan sales. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation" slides in Appendix. 2. Adjusted to exclude impact from acquisition, integration and reorganization costs in certain periods and customer related expenses. 4Q23 $283.6 million normalized expenses adjusted to include combined company expenses for a full quarter, includes FDIC Special Assessment, and adjusts incentive compensation to target. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation" slides in Appendix. 3. Adjusted to exclude impact from acquisition, integration and reorganization costs in certain periods. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation" slides in Appendix. . . . translating into meaningful profitability expansion, underscoring the effectiveness of our strategy

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1. Denotes a non-GAAP financial measure; see "Non-GAAP Reconciliation" slides in Appendix. 2. Expected gross proceeds adjusted for FAS 91 and provision impacts. 3. 23.1% tax rate used for calculation. 2Q25 Adjustments to EPS 2Q25 results were adjusted for non-recurring items which impacted EPS by ($0.19) Second Quarter 2025 Earnings \| 5 ❖ 2Q25 EPS of $0.12. Adjusted EPS(1) of $0.31 excluding impacts of loan sale actions and non-cash tax charge ❖ Loan sales – opportunistically engaged in process to sell ~$506.7mm of CRE loans with proceeds net of reserve release(2) of ~95% ❖ Results in pre-tax loss of ($26.3mm) recorded in provision expense; ($0.13) per share ❖ Executed $30.4mm of loan sales in 2Q25 and moved $476.2mm of loans to held for sale ❖~$243mm of loan sales are expected to close in 3Q25 ❖Remaining ~$233mm of loans expected to be sold over next several quarters ❖Taxes – primarily change in CA tax apportionment methodology that lowers our net tax rate ❖ Impact of lower tax rate on our net deferred tax asset (DTA) position results in one-time non-cash tax charge ❖ Change positively impacts our tax rate going forward and retrospective to the beginning of 2025 ❖ Tax rate expected to decline by ~1% HIGHLIGHTS Net P&L impact EPS Impact Reported $18.4 $0.12 Adjustments: Provision from credit losses Net loss on loan sales (3) $20.2 $0.13 Taxes Income tax related adjustment $9.8 $0.06 Total Adjustments $30.0 $0.19 Adjusted $48.4 $0.31 (1)

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![](investorpresentation_2q2006.jpg)

1. Denotes a non-GAAP financial measure; see "Non-GAAP Reconciliation" slides in Appendix. Strong PTPP(1) growth of 6% QoQ and 56% YoY driven by higher NII, NIM expansion and continued expense discipline Income Statement ($ in millions) 2Q25 1Q25 2Q24 Total interest income $420.5 $406.7 $462.6 Total interest expense 180.3 174.3 233.1 Net interest income 240.2 232.4 229.5 Other noninterest income 32.6 33.4 28.7 Gain on sales of securities and loans 0.0 0.2 1.1 Total noninterest income 32.6 33.7 29.8 Total revenue 272.8 266.0 259.3 Operating expense 185.9 183.7 216.3 Acquisition-related costs 0.0 0.0 (12.7) Total noninterest expense 185.9 183.7 203.6 PTPP income(1) 87.0 82.4 55.6 Provision for credit losses 39.1 9.3 11.0 EBIT 47.9 73.1 44.6 Income tax expense 19.5 19.5 14.3 Net earnings 28.4 53.6 30.3 Preferred stock dividends 9.9 9.9 9.9 Net earnings available to common and equivalent stockholders $18.4 $43.6 $20.4 Second Quarter 2025 Earnings \| 6 Key Income Statement Metrics 2Q25 1Q25 2Q24 Adj. EPS(1) $0.31 $0.26 $0.12 Adj. ROAA(1) 0.69% 0.65% 0.34% Adj. ROATCE(1) 8.34% 7.56% 4.42% Net interest margin 3.10% 3.08% 2.80% NIE / average assets 2.21% 2.24% 2.29% Adj. NIE / average assets(1) 1.89% 1.90% 2.06% Efficiency ratio(1) 65.5% 66.4% 80.2% Adj. efficiency ratio(1) 61.8% 62.4% 77.3% Average loan yield 5.93% 5.90% 6.18% Average interest-earning assets yield 5.42% 5.39% 5.65% Average total cost of funds 2.42% 2.42% 2.95% Average total cost of deposits 2.13% 2.12% 2.60% 1Q25 2Q25 3.08% 3.10% 1Q25 2Q25 2.42% 2.42% 0 bps -32 bps 5.39% 5.42% 1Q25 2Q25 -27 bps + +3 Average interest-earning assets yield Average cost of funds Net interest margin

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![](investorpresentation_2q2007.jpg)

Balance Sheet 1. Denotes a non-GAAP financial measure; see "Non-GAAP Reconciliation" slides in Appendix. 2. Total funding defined as total deposits plus borrowings. 3. Wholesale funding defined as borrowings plus brokered time deposits. Achieved strong loan growth while increasing TBVPS(1) and maintaining healthy liquidity position ($ in millions) 2Q25 1Q25 2Q24 Cash and cash equivalents $2,354 $2,344 $2,699 Investment securities 4,725 4,801 4,673 Loans held for sale 466 26 1,935 Loans and leases HFI 24,246 24,127 23,229 Allowance for loan and lease losses (229) (235) (248) Goodwill and intangibles 333 340 365 Deferred tax asset, net 692 702 739 Other assets 1,665 1,675 1,852 Total assets $34,250 $33,780 $35,244 Noninterest-bearing deposits $7,441 $7,594 $7,825 Interest-bearing deposits 20,087 19,599 20,979 Total deposits 27,528 27,193 28,804 Borrowings 1,917 1,671 1,441 Subordinated debt 949 945 939 Other liabilities 429 449 651 Total liabilities excluding deposits 3,295 3,065 3,032 Total stockholders' equity 3,427 3,522 3,408 Total liabilities and stockholders' equity $34,250 $33,780 $35,244 Key Balance Sheet Metrics 2Q25 1Q25 2Q24 Average interest-earning assets $31,097 $30,611 $32,945 CET 1 ratio 9.92% 10.45% 10.27% Tangible common equity ratio(1) 7.65% 8.02% 7.30% Tangible book value per share(1) $16.46 $16.12 $15.07 Cash / assets 6.9% 6.9% 7.7% Cash + securities / assets 20.7% 21.2% 20.9% Loans / deposits 89.8% 88.8% 87.4% Noninterest-bearing deposits / total deposits 27.0% 27.9% 27.2% Deposits / total funding(2) 93.5% 94.2% 95.2% Total brokered deposits / total funding(2) 9.8% 9.2% 14.8% Wholesale funding / assets(3) 12.3% 10.9% 15.5% ACL ratio 1.07% 1.10% 1.19% Second Quarter 2025 Earnings \| 7

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![](investorpresentation_2q2008.jpg)

Net Interest Income (NII) ($mm) and Net Interest Margin (NIM) (%) Impact to NII ($mm) from cumulative change in yields, rates and mix 1Q25 +$16.2 Loans -$0.2 Securities -$1.6 Borrowings -$2.1 Cash / Other EA Deposits 2Q25 $232.4 -$4.4 $240.2 2.80% $229.5 2Q24 2.93% $232.2 3Q24 3.04% $235.3 4Q24 3.08% $232.4 1Q25 3.10% $240.2 2Q25 Net interest income up 3% QoQ, driven by interest income from strong loan growth Net Interest Income and Net Interest Margin NII increased $7.9mm, or 3.4% QoQ Second Quarter 2025 Earnings \| 8 Strong loan growth drove mix shift to higher percentage of interest-bearing depositsStrong growth in higher yielding C&I loan categories NIM increased 30bps YoY

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![](investorpresentation_2q2009.jpg)

Note: Other income includes revenue from BOLI, warrants, gain/loss on termination of leases, and other miscellaneous income. Noninterest Income 2Q25 noninterest income in line with normal run-rate Second Quarter 2025 Earnings \| 9 HIGHLIGHTS ❖Noninterest income of $32.6mm was down 3% QoQ due primarily to variance in the fair values of items requiring MTM accounting ❖ CRA equity investments declined $2.8mm QoQ, which is included in Dividends & Gains (Losses) on Equity Investments ❖ CLN declined $1.2mm QoQ, which is included in Other Income ❖Warrant income from Venture Banking increased $1.5mm, which is included in Other Income ❖Normal run-rate for noninterest income of $10mm-$12mm per month ($ in millions) 2Q25 1Q25 2Q24 Leased Equipment Income $10.2 $10.8 $11.5 Commissions and Fees 9.6 10.0 8.6 Service Charges on Deposits 4.5 4.5 4.5 Dividends & Gains (Losses) on Equity Investments (0.1) 2.3 1.2 Other Income 8.4 6.0 4.0 Total Noninterest Income $32.6 $33.7 $29.8

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![](investorpresentation_2q2010.jpg)

2.43% 2.27% 2.16% 2.24% 2.21% 2.06% 1.87% 1.79% 1.90% 1.89% 2Q24 3Q24 4Q24 1Q25 2Q25 Adjusted Noninterest Expense / Average Assets Ratio Adjusted Noninterest Expense Excluding Customer Related Expenses / Average Assets Ratio Adjusted Noninterest Expense / Average Assets Ratio(1) 1. Excludes acquisition, integration and reorganization costs. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation" slides in Appendix. 2. Denotes a non-GAAP measure, see "non-GAAP Reconciliation" slides in Appendix. Noninterest Expense 2Q25 expenses below target range driven by disciplined expense management 80.2% 68.0% 66.0% 66.4% 65.5%77.3% 63.5% 61.3% 62.4% 61.8% 2Q24 3Q24 4Q24 1Q25 2Q25 Efficiency Ratio(2) Adjusted Efficiency Ratio Excluding Customer Related Expenses Adjusted Efficiency Ratio(2) Second Quarter 2025 Earnings \| 10 HIGHLIGHTS ❖ Increase in 2Q25 compensation expense largely driven by higher 1Q25 incentive and equity compensation reversals related to staff exits ❖ Lower IT and data processing expense and increased professional services expense variances largely due to non-recurring items ❖ 1Q25 insurance and assessments expense included a $2.7mm reversal for 4Q24 related FDIC assessments ($ in millions) 2Q25 1Q25 2Q24 Compensation $88.4 $86.4 $85.9 Occupancy 15.5 15.0 17.5 IT and data processing 13.1 15.1 15.5 Professional services 6.4 4.5 5.2 Insurance and assessments 9.4 7.3 26.4 Intangible asset amortization 7.2 7.2 8.5 Leased equipment depreciation 6.7 6.7 7.5 Loan expense 4.1 2.9 4.3 Acquisition, integration and reorganization costs 0.0 0.0 (12.7) Other expense 8.7 10.7 13.1 Customer related expense 26.6 27.8 32.4 Total noninterest expense $185.9 $183.7 $203.6 Adjusted noninterest expense (1) $185.9 $183.7 $216.3 Adjusted noninterest expense excluding customer related expense (1) $159.3 $155.9 $183.9

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![](investorpresentation_2q2011.jpg)

Deposits Core deposit(1) balances and cost of deposits remained stable 5.33% 5.26% 4.65% 4.33% 4.33% 2.60% 2.54% 2.26% 2.12% 2.13% Average Fed Funds Rate Average Total Cost of Deposits 27.2% 29.1% 28.4% 27.9% 27.0% 25.4% 28.1% 28.0% 28.5% 29.0% 23.9% 26.2% 26.8% 27.1% 26.5% 14.0% 7.4% 7.6% 7.3% 8.4% 9.6% 9.1% 9.2% 9.2% 9.1% 2Q24 3Q24 4Q24 1Q25 2Q25 CDs Brokered CDs Money Market & Savings Interest-bearing Checking Noninterest-bearing Checking 1. Denotes a non-GAAP measure, see "non-GAAP Reconciliation" slides in Appendix. 2. Costs do not include ECR expenses related to HOA deposits. 3. Includes brokered CDs. Second Quarter 2025 Earnings \| 11 ($ in millions) 2Q25 1Q25 2Q24 Noninterest-bearing Checking $7,441 $7,594 $7,825 Checking 7,974 7,747 7,310 MMDA 5,375 5,368 4,837 Savings 1,933 1,999 2,040 Non-Brokered CDs 2,493 2,491 2,758 Core Deposits (1) $25,216 $25,198 $24,770 Brokered CDs 2,312 1,995 4,034 Total Deposits $27,528 $27,193 $28,804 Average Noninterest-bearing Checking 7,584 7,715 7,882 Average NIB Checking / Average Deposits 27.8% 28.7% 27.4% Deposits By Line of Business ($mm) 2Q25 Balance 2Q25 Cost 1Q25 Balance 1Q25 Cost Community Banking $14,457 1.72% $14,687 1.78% Venture 5,722 2.68% 5,714 2.75% Specialty Banking (includes HOA)(2) 4,021 0.79% 3,951 0.83% Corporate and Other Institutional(3) 3,329 3.89% 2,842 4.37% Total Deposits $27,528 2.13% $27,193 2.12% ❖NIB decline QoQ driven by 2% decline in average account balances ❖Total cost of deposits driven by mix shift towards IB deposits (up 2.5%), offset by lower total IB deposit rates (down 2bps)

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![](investorpresentation_2q2012.jpg)

650 2,390 2,929 3,569 $107.3 1Q24 1,288 $257.8 2Q24 1,889 $382.6 3Q24 $439.2 4Q24 $537.8 1Q25 $643.2 2Q25 Cumulative New NIB Business Deposits Accounts Cumulative New NIB Business Deposits ($ millions) NIB Deposit Growth Remains a Key Priority Steady growth continuing in new NIB business deposit relationships and balances(1) 1. Includes new NIB deposits from relationships opened over the last two years from the quarter referenced. Second Quarter 2025 Earnings \| 12

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![](investorpresentation_2q2013.jpg)

2Q25 1Q25 2Q25 1Q25 Variance from Loan Sales (2) Core Variance Total Variance % of Total Loans 2Q25 Wtd. Avg. Rate 2Q25 NPL % 2Q25 DQ % 2Q25 ACL Coverage Ratio ACL Coverage Ratio Multifamily $6,281 $6,216 ($23) $88 $65 25.9% 4.2% 0.36% 0.35% $41 0.66% $38 0.61% Other CRE 3,746 3,859 (182) 69 (114) 15.4% 5.3% 1.49% 1.14% 88 2.35% 88 2.28% Residential / Consumer 3,180 2,781 - 399 399 13.1% 4.2% 0.78% 1.81% 5 0.16% 3 0.13% Real Estate Construction 2,302 2,861 (302) (257) (559) 9.5% 6.0% 0.00% 0.00% 10 0.44% 18 0.63% C&I 1,773 1,884 - (112) (112) 7.3% 6.7% 0.22% 0.05% 29 1.64% 29 1.55% Warehouse 1,610 1,601 - 9 9 6.6% 7.4% 0.00% 0.00% 3 0.21% 3 0.20% Fund Finance 1,194 956 - 238 238 4.9% 7.4% 0.00% 0.00% 0 0.04% 0 0.02% Lender Finance 1,173 931 - 242 242 4.8% 7.8% 0.00% 0.00% 4 0.35% 3 0.30% Venture Lending (3) 808 777 - 31 31 3.3% 7.8% 0.00% 0.00% 59 7.26% 63 8.05% SBA 700 715 - (16) (16) 2.9% 6.7% 6.33% 1.44% 5 0.66% 5 0.64% Equipment Lending 645 626 - 19 19 2.7% 6.0% 0.15% 0.03% 2 0.33% 2 0.27% Core Loan Portfolio $23,412 $23,208 ($507) $710 $204 96.6% 5.6% 0.65% 0.57% $247 1.05% $252 1.08%0 #DIV/0! #DIV/0! Premium Finance $473 $518 $- ($44) ($44) 2.0% 3.4% 0.00% 0.00% $0 0.08% $0 0.08% Student 286 298 - (12) (12) 1.2% 4.3% 0.21% 0.99% 11 3.99% 12 4.05% Civic 75 103 - (28) (28) 0.3% 7.0% 19.81% 17.88% 0 0.09% 0 0.32% Discontinued Areas $834 $918 $- ($84) ($84) 3.4% 4.0% 1.85% 1.94% $12 1.42% $13 1.39% Total Loans HFI $24,246 $24,127 ($507) $626 $119 100.0% 5.5% 0.69% 0.62% $259 1.07% $265 1.10% Loans Held for Sale (HFS) 466 26 441 (1) 440 Total Loans $24,711 $24,152 ($65) $625 $559 Operating leases 289 295 (6) (6) Total Loans and leases $25,000 $24,447 $553 Loan Segment ($ in millions) Diversified Loan Portfolio Core loan portfolio has strong credit quality with appropriate reserve levels for low loan loss categories Note: Wtd. Avg. Rate excludes accretion of net deferred loan fees and net loan purchase discounts. 1. Represents core loans excluding HFS LOCOM mark in 2Q25 as a result of transfer of loans to HFS and does not include loans HFS in 1Q25. Core loans defined as total loans less discontinued areas. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation" slides in Appendix. 2. Variance from Loan Sales in HFI section represents amortized cost of loans. Variance from Loan Sales in HFS section represents the loans transferred from HFI net of loss on sale, deferred fees and other balance adjustments. 3. Venture lending includes technology and life science lending. Core loan portfolio(1) grew ~12% annualized, driven by higher yielding C&I loan categories Second Quarter 2025 Earnings \| 13

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$1,076 $832 $659 $803 $1,257 $747 $1,063 $867 $990 $826 $1,908 $1,462 $2,004 $1,931 $1,816 7.80% 8.29% 7.00% 7.20% 7.29% 6.18% 6.18% 5.90% 5.93% 6.01% Rate on Production Total Loan Yield ($ in millions) 1. 1Q25 loan activity data has been adjusted to reflect more precise information with no impact to the Net Change or the Loan Production for the quarter. 2. Includes charge-offs, transfers to foreclosed assets, loan sales, and transfers to HFS. Loan Activity Strong loan production of $1.2B and increase in production coupon rates Rate on production reflects growth in lender finance, fund finance and SFR Loan yield increase QoQ due to mix shift in higher yield loan segments Second Quarter 2025 Earnings \| 14 $382 $1,271 $700 $1,082 $937 $1,353 $924 $1,371 $1,177 $1,282 $1,654 $1,781 $2,290 $2,294 $2,459 2Q24 3Q24 4Q24 1Q25(1) 2Q25 $698 $852 $830 $1,197 $997 Loan Production Line Utilization Payoffs PaydownsUnfunded New Commitments ($ in millions) Loans Beginning Balance Total Production/ Disbursements Total Payoffs/ Paydowns Net Change Other Change(2) Loans Ending Balance Total Loan Yield Rate on Production C&I Utilization Rate 2Q25 $24,127 $2,459 $1,816 $643 ($524) $24,246 5.93% 7.29% 64.8% 1Q25 23,782 2,294 1,931 364 (19) 24,127 5.90% 7.20% 63.6% 4Q24 23,528 2,290 2,004 286 (32) 23,782 6.01% 7.00% 62.0% 3Q24 23,229 1,781 1,462 320 (21) 23,528 6.18% 8.29% 60.1% 2Q24 25,473 1,654 1,908 (255) (1,989) 23,229 6.18% 7.80% 58.5% (1) (1)

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Asset Quality Ratios and Trends ❖ Credit quality metrics improved substantially QoQ, driven primarily by sale process of ~$507mm of CRE loans with proceeds net of reserve release(1) of ~95% ❖ Many of the loans being sold have sufficient collateral values but have attributes that drive credit migration ❖ Risk rating changes, loan payoffs and balance changes also contributed to improved credit quality metrics Special Mention Loans / Total Loans (NPLs) ($mm) Delinquent Loans / Total Loans ($mm) Classified Loans / Total Loans ($mm) $311.3 $320.1 $275.3 $281.9 $172.1 $206.2 $37.2 2Q24 $233.9 $264.4 $35.4 3Q24 $267.1 $266.1 $30.3 4Q24 $276.6 $466.5 $21.6 1Q25 $175.1 $465.7 $15.8 2Q25 $415.5 $533.6 $563.5 $764.7 $656.6 1.79% 2.27% 2.37% 3.17% 2.71% Classified Loans / Total Loans HFI CRE Loans (excluding MF and Construction) Other Core Loans(2) Discontinued Loans $27.0 $37.8 $19.0 2Q24 $43.1 $48.5 $33.4 3Q24 $41.8 $93.7 $44.7 4Q24 $78.9 $84.8 $36.9 1Q25 $42.7 $90.5 $16.2 2Q25 $83.8 $125.0 $180.2 $200.6 $149.5 0.36% 0.53% 0.76% 0.83% 0.62% CRE Loans (excluding MF and Construction) Other Core Loans(2) Discontinued Loans Delinquent Loans / Total Loans HFI 1. Expected gross proceeds adjusted for FAS 91 and provision impacts.. 2. Reference Page 13 for Core Loan Portfolio. Other Core Loans comprises Core Loan Portfolio less CRE loans (excluding MF and Construction). Strategic sales of ~$507mm of CRE loans primarily drove improvements to credit quality metrics HIGHLIGHTS Second Quarter 2025 Earnings \| 15 Nonperforming Loans / Total Loans (NPLs) ($mm) $46.1 $53.5 $17.5 2Q24 $55.8 $79.3 $33.3 3Q24 $63.5 $96.8 $29.2 4Q24 $90.8 $101.4 $21.3 1Q25 $55.7 $96.4 $15.4 2Q25 $117.1 $168.3 $189.6 $213.5 $167.5 CRE Loans (excluding MF and Construction) Other Core Loans(2) Discontinued Loans 0.50% 0.72% 0.80% 0.88% 0.69% NPLs to Loans/leases HFI $248.0 $404.5 $28.1 2Q24 $305.9 $383.5 $22.4 3Q24 $343.9 $732.0 $21.5 4Q24 $297.8 $633.0 $6.2 1Q25 $201.0 $454.5 $6.1 2Q25 $680.7 $711.9 $1,097.3 $937.0 $661.6 CRE Loans (excluding MF and Construction) Other Core Loans(2) Discontinued Loans 2.73% 3.88% 4.61% 3.03%2.93% Special Mention Loans / Total Loans HFI

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❖ ACL decreased $6.0mm driven by: ❖ NCOs of $44.2mm include $36.9mm related to loan sales / transfers to HFS ❖ Provision of $38.2mm includes $26.3mm related to loan sales / transfers to HFS ❖ Core provision for credit losses of $12.3mm • Increased reserves to reflect updated economic forecast and added qualitative reserves related to office loans ❖ ACL coverage ratio at 1.07% ❖ Economic coverage ratio remains healthy at 1.61%(1) ($ in millions) 2Q25 net charge-offs detail $264.6 ($44.2) $38.2 ACL 1Q25 Net Charge-Offs Provision for Loans HFI ACL 2Q25 Allowance for Credit Losses – Loans ACL coverage ratio at appropriate level under CECL given portfolio mix and loss rates; additional credit protection enhances total economic coverage HIGHLIGHTS 1. Economic coverage ratio adjusts our ACL coverage ratio to include the loss coverage from credit-linked notes and unearned credit marks from purchase accounting. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation" slides in Appendix. 1.61% Economic coverage ratio(1) $258.6 Second Quarter 2025 Earnings \| 16 $275.3 1.19% 1.83% 2Q24 $281.9 1.20% 3Q24 $268.4 1.13% 1.72% 4Q24 $264.6 1.10% 1.66% 1Q25 $258.6 1.07% 1.61% 2Q25 1.82% ACL ACL / Total Loans HFI Economic Coverage Ratio(1) ACL / total loans ($mm) 2Q25 ACL walk Net Charge-offs ($ in millions) Charge-offs Recoveries Net Charge- offs % of Total Loans (annualized) Civic Loans $0.4 ($0.0) $0.4 0.01% Commercial Loans 8.8 (2.3) 6.5 0.11% Real Estate Mortgage 15.5 (0.3) 15.2 0.25% Real Estate Construction 21.5 - 21.5 0.35% Consumer Loans: Student Loans 0.7 (0.1) 0.6 0.01% Consumer Loans: excluding Student Loans 0.1 (0.1) (0.0) 0.00% Total $46.9 ($2.7) $44.2 0.72% Charge-offs related to loan sale process ($36.9) $- ($36.9) -0.60% Total adjusted for loan sale process $10.0 ($2.7) $7.3 0.12% 1.10% 1.07%

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Adjusted ACL ratio(1) is significantly higher when adjusting for lower loss loan categories Key Allowance for Credit Losses Ratios Adjusted ACL Ratio(1) Composition of Lower Loss Loan Categories ❖ Recent loan growth is in segments with relatively low expected credit losses including warehouse, lender finance and fund finance; resulted in lower ACL coverage under CECL ❖ Adjusted ACL Ratio(1) at 1.44%; Economic Coverage Ratio(1) at 1.61%, which includes $112.9mm of loss coverage from credit-linked notes on SFR ❖ Lower loss loan categories as a percent of total loans increased to 29% at 2Q25 from 20% at 2Q24 strengthening the credit profile of the bank 1.07% 1.20% 1.29% 1.44% 2Q25 ACL Ratio Adj. ACL Ratio Excluding Single Family Residential Loans Adj. ACL Ratio Excluding SFR Mortgage & Warehouse Loans Adj. ACL Ratio Excluding SFR Mort., Warehouse, Fund Finance and Lender Finance Loans HIGHLIGHTS 1. Adjusted ACL Ratio is adjusted for lower loss loan categories. Economic Coverage Ratio is adjusted for the impact of credit-linked notes and unearned credit mark from purchase accounting. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation" slides in Appendix. Second Quarter 2025 Earnings \| 17 Lower Loss Loan Categories ($ in millions) 2Q25 1Q25 2Q24 Residential $3,083 $2,684 $2,679 Warehouse 1,610 1,601 782 Fund Finance 1,194 956 645 Lender Finance 1,173 931 438 Total Lower Loss Loans $7,061 $6,172 $4,544 Total Loans HFI $24,246 $24,127 $23,229 Lower Loss Loans / Total Loans HFI 29.1% 25.6% 19.6%

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Average Portfolio Balances & Yields(4) 1. Excludes FRB and FHLB stock. 2. AFS securities reflected at fair value; excludes $0.8mm loss reserve. 3. HTM securities reflected at amortized cost; excludes $0.7mm loss reserve. 4. Includes FRB and FHLB stock. Investment Securities Portfolio Maintaining diversified portfolio with stable balances and yields ❖ Average securities yield decreased 4bps QoQ due largely to repricing of floating rate securities ❖ Unrealized pre-tax loss on AFS securities of $233mm down $8mm QoQ driven primarily by a decrease in longer term interest rates ❖ Of the AFS securities portfolio, 74% is fixed rate, 16% is floating rate, and 10% is hybrid rate ❖ 2Q25 new investment yield of 5.0% ❖ ~14% of AFS securities portfolio will contractually paydown and reprice within 1 year and 24% within three years ❖ 77% of total securities are AAA rated and 15% AA rated HIGHLIGHTS $4.66 2.92% 2Q24 $4.67 2.98% 3Q24 $4.70 3.19% 4Q24 $4.73 3.24% 1Q25 $4.72 3.20% 2Q25 Average Balance ($ in billions) Yield Second Quarter 2025 Earnings \| 18 Duration (yrs) Unrealized Unrealized 2Q25 1Q25 Variance 2Q25 Loss 2Q25 Loss 1Q25 AFS - Gov't & Agency $1,453 $1,497 ($44) 5.8 ($179) ($182) AFS - CLO's 228 243 (15) 0.0 0 (1) AFS - Corporate Bonds 264 263 1 1.1 (23) (26) AFS - Municipal Bonds 1 1 0 0.7 0 (0) AFS - Non-Agency Securitizations 301 330 (29) 3.8 (32) (33) AFS(2) $2,247 $2,334 ($87) 4.3 ($233) ($241) HTM - Gov't & Agency 635 633 2 5.5 (33) (40) HTM - Corporate Bonds 71 71 0 4.3 (11) (12) HTM - Municipal Bonds 1,254 1,252 2 8.5 (62) (60) HTM - Non-Agency Securitizations 358 357 1 5.2 (15) (20) HTM(3) $2,317 $2,312 $5 7.1 ($121) ($132) Total Securities $4,564 $4,646 ($82) 5.7 ($354) ($373) Security Type(1) ($ in millions)

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9.92% 10.45% 10.27% 2Q25 1Q25 2Q24 7.65% 8.02% 7.30% 2Q25 1Q25 2Q24 CET 1 Ratio TCE Ratio(1) Note: 2Q25 regulatory capital ratios are preliminary. 1. Denotes a non-GAAP financial measure; see "Non-GAAP Reconciliation" slides in Appendix. Capital Continue to grow TBVPS and maintain healthy capital levels after impact of common stock repurchases Repurchased 5.2% of outstanding shares in 2Q25 and 1.6% in 1Q25, which impacted CET 1 ratio by 43bps and 15bps, respectively Second Quarter 2025 Earnings \| 19 2Q25 1Q25 2Q24 Regulatory Well- Capitalized Excess of Well- Capitalized Consolidated Company Total Risk-Based Ratio 16.32% 16.93% 16.57% 10.00% 6.32% Tier 1 Risk-Based Capital 12.30% 12.86% 12.62% 8.00% 4.30% Common Equity Tier 1 (CET 1) 9.92% 10.45% 10.27% 6.50% 3.42% Leverage Ratio 9.74% 10.19% 9.51% 5.00% 4.74% Tangible Common Equity (TCE) Ratio (1) 7.65% 8.02% 7.30% NA NA TBVPS (1) $16.46 $16.12 $15.07 NA NA

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Second Quarter 2025 Earnings \| 20 Note: Short Term ("ST"): Assets and liabilities expected to mature, reprice, or settle within one year. Rate sensitive defined as assets or liabilities that are repricing or maturing within one year. Interest Rate Sensitivity IRR position for 2025 remains largely neutral for NII sensitivity, however total earnings are liability sensitive when adjusting for ECR costs 2Q25 IRR position – NII impact ($B) ❖Gap between short-term ("ST") liabilities and assets of $5.1B in 2Q compared to $5.0B at 1Q ❖When adjusted for deposit repricing betas and hedges, net interest income sensitivity is relatively neutral ❖The impact of ECR costs on rate-sensitive HOA deposits of $3.7B shifts this neutral interest rate sensitivity to liability sensitive for total earnings HIGHLIGHTS $14.5 $19.5 ST Assets ST Liabilities Asset / liability gap of ($5B) is largely neutral to NII when adjusting for deposits repricing betas & hedges 2Q25 IRR position – Total Earnings ($B) $14.5 $16.2 ST Assets ST Liabilities / Beta Adjusted + ECR ECR costs on HOA deposits when adjusted for repricing betas shifts IRR position to liability sensitive with a repricing gap at ($1.7B)

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Second Quarter 2025 Earnings \| 21 Loan Maturity and Repricing Summary 3.6% 3.7% 4.2% 5.8% 3.6% 4.1% 5.8% 3.9% Multifamily Loans – Maturities / Repricing $0.1 $0.7 $0.2 $1.6 $1.2 $0.7 $0.7 $1.2 <= 1 Year 1-2 Years 2-3 Years > 3 Years $1.4B $1.4B $0.9B $2.8B Fixed Rate Loans Maturity Hybrid Rate and Variable Loans Reset Hybrid & Variable Rate: Fixed Rate: Total Fixed Rate and Hybrid Loans – Maturities / Repricing $0.8 $1.0 $0.7 $1.4 $1.8 $1.4 $0.6 $6.3 <1 Year 1-2 Years 2-3 Years > 3 Years Hybrid Fixed $2.7B $2.3B $1.3B $7.8B 19% of fixed rate and hybrid loans will reprice / reset within one year at higher rates Total fixed rate and hybrid loans: $14.1B Total multifamily loans: $6.3B 43% 35% 22% 2Q25 Fixed ST Variable Hybrid+LT Variable Total Loan Composition WAC: 4.6% WAC: 7.4% WAC: 4.5% 46% are Hybrid with a current rate of 4.3% offering strong repricing upside 4.1% 4.8% 4.2%4.9%WAC: Note: Long Term ("LT") Variable: Loans that reset or mature beyond one year. Weighted Average Coupon ("WAC"): Weighted average of the contractual interest rate. Loans maturing or repricing in 2H25 total $1.8B at a weighted average coupon of 5.0% Approximately $3.2B of low yielding multifamily loans will reprice or mature in next 2.5 years

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Outlook as of 1Q25 earnings Current outlook Key factors Loans Deposits Net interest margin Noninterest expense (NIE) Balance sheet metrics Second Quarter 2025 Earnings \| 22 ❖ Target NIM of 3.20%-3.30% for FY 2025 ❖ Assumes no further rate cuts in 2025 ❖ NIE average of $190mm- $195mm per qtr. ❖ Customer related expenses avg. of $27mm-$29mm per qtr. ❖ ECR expenses are rate dependent ❖ Wholesale funding ratio(1) 10%-12% ❖ Loan / deposits 85%-93% ❖ Evaluate opportunities to optimize balance sheet ❖ ROAA ~1.1%+ ❖ ROTCE ~13%+ ❖ Continue to make consistent, meaningful progress toward goals ❖ Timing will depend on continued execution of core strategy combined with the impact of the economic and interest rate environments ❖ Target mid single digit growth ❖ Driven by growth in commercial loans ❖ Cautious given uncertain economic conditions ❖ Target mid single digit growth ❖ Target NIB ratio >30% ❖ Broad based growth across our businesses 1. Wholesale funding defined as borrowings plus brokered time deposits. 2025 outlook remains largely unchanged with clarifications to reflect impact of funding accelerated loan growth 2025 outlook ❖ Unchanged ❖ Growth unchanged ❖ Clarified target NIB ratio 27%-30% ❖ Clarified target NIM of 3.20%- 3.30% by 4Q25 ❖ Unchanged ❖ Unchanged Future state financial targets remain unchanged

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Supplemental Information

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1. Represents VWAP of shares repurchased. 2. Common shares outstanding as of March 17, 2025. Share Repurchases Share Repurchase Activity 1Q25 2Q25 Total Repurchase Amount $38,545,698 $111,454,299 $150,000,000 Price Per Share(1) $14.36 $12.65 $13.05 Number of Shares Repurchased 2,684,823 8,809,814 11,494,637 Common Shares Outstanding(2) 169,083,588 169,083,588 169,083,588 % of Shares Repurchased 1.6% 5.2% 6.8% Second Quarter 2025 Earnings \| 24 ❖$150mm remaining in share repurchase program which can be used towards common stock or preferred stock

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❖ 74% of total CRE portfolio located in California ❖ Total CRE has a low weighted average LTV of 60% ❖ Other Property Types includes mobile homes, self storage, gas stations, special use, schools, places of worship and restaurants 7.3% 6.3% 4.6% 3.2% 1.7% 1.8% 5.3% Office Industrial Retail Hotel Health Facility Mixed Use Other Other CRE as % of Total CRE Total CRE is well diversified across multiple industries • Total CRE comprises 51% of total loans HFI and Other CRE comprises 15% of total loans HFI • 86% of office collateral located in California, 6% in Colorado and 8% in other states • Multifamily has a low average LTV and a strong DSCR coverage ratio of 1.3x • $507mm of loans sold / loans moved to HFS includes ~$302mm of Real Estate Construction loans, ~$182mm of Other CRE loans and ~$23mm of Multifamily loans Note: CRE excludes government guaranteed CRE collateralized SBA loans. 1. Represents most recent appraisal or weighted-average LTV at origination. CRE Portfolio High quality CRE portfolio has low weighted-average LTV and strong debt-service coverage ratio (DSCR) HIGHLIGHTS Second Quarter 2025 Earnings \| 25 Property Type ($ in millions) Count 2Q25 1Q25 2Q25 % of Total CRE 2Q25 % of Total Loans HFI Avg Loan Size WA LTV(1) DSCR NPL % NPL $ Multifamily 1,309 $6,281 $6,216 51% 26% $4.8 60% 1.30 0.36% $22.6 Real Estate Construction 166 2,302 2,861 19% 9% 13.9 70% - 0.00% 0.0 Other CRE 1,057 3,746 3,859 30% 15% 3.5 55% 2.03 1.49% 55.7 Office 210 906 920 7% 4% 4.3 57% 2.07 1.93% 17.5 Industrial / Warehouse 342 772 796 6% 3% 2.3 53% 2.31 0.28% 2.1 Retail 177 571 698 5% 2% 3.2 53% 1.68 0.06% 0.3 Hotel 36 398 409 3% 2% 11.1 52% 1.68 7.32% 29.2 Mixed Use 42 227 190 2% 1% 5.4 52% 1.54 0.00% 0.0 Health Facility 36 214 212 2% 1% 6.0 56% 2.38 2.98% 6.4 Other Property Types 214 656 634 5% 3% 3.1 58% 2.22 0.02% 0.1 Total CRE 2,532 $12,329 $12,937 100% 51% $4.9 60% 1.57 0.63% $78.3

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Adjusted Noninterest Expense Detail(1) ($mm) $32.4 $26.4 $71.5 $85.9 2Q24 $34.5 $12.7 $64.0 $85.6 3Q24 $31.7 $11.2 $61.9 $77.7 4Q24 $27.8 $7.3 $62.2 $86.4 1Q25 $26.6 $9.4 $61.5 $88.4 2Q25 $216.3 $196.7 $182.4 $183.7 $185.9 Compensation expense Other operating expenses Insurance and assessments Customer related expense Customer Related Expense ($mm) $27.7 $4.7 2Q24 $29.9 $4.6 3Q24 $27.4 $4.2 4Q24 $23.6 $4.1 1Q25 $21.9 $4.7 2Q25 $32.4 $34.5 $31.7 $27.8 $26.6 ECR Expense Other(2) 1. Excludes acquisition, integration and reorganization costs. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation" slides in Appendix. 2. Other customer related expense includes deposit referral fees, armored car services, check printing expenses, and other miscellaneous expenses Customer Related Expense Lower ECR expense mostly driven by mix-shift into lower cost HOA deposits 2Q24 3Q24 4Q24 1Q25 2Q25 $3,812 $3,758 $3,730 $3,739 $3,728 Average HOA Deposits ($mm) ECR indexed to Fed Funds rate with high beta and will continue to fluctuate with Fed rate moves Substantially all HOA deposits have ECR expenses; average deposit rate (excluding ECR costs) for 2Q25 is 81bps Second Quarter 2025 Earnings \| 26

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Projects and Investments Expect total project and investment spend of $20mm in 2025, with $7-$8mm of planned expense in 2025 Project investment composition Revenue enhancing projects Back office and support projects Second Quarter 2025 Earnings \| 27 30% 70% Revenue Enhancing Back Office and Support Projects $6.0mm $14.4mm 32% 41% 26% Infrastructure Optimization/Scalability Regulatory/Compliance 44% 13% 43% Sales enablement Business specific Payments $2.6mm $2.6mm $6.0mm $3.8mm $4.7mm $0.8mm

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❖Uninsured and uncollateralized deposits of $7.6B, which represents ~27% of total deposits ❖Total primary and secondary liquidity was 2.0x uninsured and uncollateralized deposits Liquidity Maintaining high levels of primary and secondary liquidity as prudent risk management 1. Cash and cash equivalents figure presented as Bank only, excludes restricted cash. 2. Net of 8.2% haircut as of June 30, 2025. ($ in millions) 2Q25 Current Availability Utilization Capacity Primary Liquidity Cash and cash equivalents $2,183 AFS Securities (unpledged) 2,058 Total Primary Liquidity 4,241 Total Secondary Liquidity 10,571 2,269 12,840 Total Primary + Secondary Liquidity $14,812 Definitions Secondary Liquidity: Net available borrowing capacity with the FHLB and FRB. Primary liquidity: Cash and cash equivalents (excluding restricted cash) and the market value of unencumbered Available-For-Sale ("AFS") securities, net of a haircut. These assets are (i) unencumbered, (ii) readily available for use, and (iii) can be readily sold or pledged under normal operating conditions and under a range of stress conditions. Second Quarter 2025 Earnings \| 28 (1) (2)

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Experienced Management Team with Track Record of Success at Leading Institutions Alex Kweskin Chief Human Resources Officer 25+ years of Human Resources experience, previously held HR leadership roles at MUFG Union Bank and Wells Fargo Chris Blake Vice Chairman of the Bank 40+ years of banking experience, previously served as President & CEO, Community Bank Division, for PacWest Bancorp Scott Ladd Chief Credit Officer for Specialty Banking and Credit Operations 25+ years banking and consulting experience, previously served as EVP, Group Head, Portfolio Management at PacWest Bancorp Hamid Hussain President of the Bank 30+ years of banking experience, previously served as EVP, Real Estate Market Executive for Wells Fargo Bryan Corsini Chief Credit Officer 35+ years banking experience, previously served as CCO of PacWest Bancorp and Director of Pacific Western Bank Ido Dotan General Counsel and Chief Administrative Officer Experienced in corporate securities, M&A, and structured finance. Previously served as EVP of Carrington Mortgage Holdings Olivia Lindsay Chief Risk Officer 20+ years of experience in regulatory processes and controls, previously spent 15 years at MUFG Union Bank Steve Schwimmer Chief Information Officer 30+ years of experience in banking technology, previously served as the EVP, Chief Innovation Officer at PacWest Bancorp Stan Ivie Head of Government and Regulatory Affairs Previously served as the Chief Risk Officer of PacWest Bancorp & the regional director for the FDIC's San Francisco and Dallas Regions Michael Pierron Head of Payments 25+ years of technology, product and operations, previously served as Head of Operations at Flagstar Bank Sean Lynden President, Venture Banking Group 30+ years of banking and related experience. Previously served as President of Venture Banking Group for Pacific Western Bank Chris Baron President, Community Banking 30+ years banking experience. Previously served as President of Los Angeles Region for Pacific Western Bank Karen Hon Chief Accounting Officer 20+ years of finance & accounting experience, previously served as Chief Accounting Officer at Silicon Valley Bank Jared Wolff President and Chief Executive Officer 30+ years of banking and law. Previously held senior executive positions with City National Bank (RBC) and PacWest Bancorp Joe Kauder Chief Financial Officer 30+ years banking experience, previously served as EVP, CFO Wells Fargo Wholesale Banking Second Quarter 2025 Earnings \| 29 Bill Rhodes Chief Internal Audit Officer 25+ years of banking and internal audit experience, previously served as CAE of Coastal Community Bank and Deputy CAE of Silicon Valley Bank

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Appendix

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![](investorpresentation_2q2031.jpg)

Non-GAAP Financial Information Tangible assets, tangible common equity, tangible common equity ratio, tangible book value per common share, adjusted net earnings, adjusted return on average assets, return on average tangible common equity, adjusted return on average tangible common equity, pre-tax pre-provision ("PTPP") income, adjusted noninterest expense, efficiency ratio, adjusted efficiency ratio, core loan portfolio growth, adjusted ACL ratio, and economic coverage ratio constitute supplemental financial information determined by methods other than in accordance with GAAP. These non-GAAP measures are used by management in its analysis of the Company's performance. Tangible assets and tangible equity is calculated by subtracting goodwill and other intangible assets from total assets. Tangible common equity is calculated by subtracting preferred stock, as applicable, from tangible equity. Return on average tangible common equity is calculated by dividing net earnings available to common stockholders, after adjustment for amortization of intangible assets and goodwill impairment, by average tangible common equity. Adjusted return on average tangible common equity is calculated by dividing adjusted net earnings available to common stockholders, after adjustment for amortization of intangible assets and goodwill impairment, by average tangible common equity. Banking regulators also exclude goodwill and other intangible assets from stockholders' equity when assessing the capital adequacy of a financial institution. Adjusted net earnings is calculated by adjusting net earnings by unusual, one-time items. ROAA is calculated by dividing annualized net earnings by average assets. Adjusted ROAA is calculated by dividing annualized adjusted net earnings by average assets. PTPP income is calculated by adding net interest income and noninterest income (total revenue) and subtracting noninterest expense. Adjusted PTPP income is calculated by adding net interest income and adjusted noninterest income (adjusted total revenue) and subtracting adjusted noninterest expense. Adjusted noninterest expense is calculated by subtracting acquisition, integration and reorganization costs from total noninterest expense. Adjusted noninterest expense excluding customer related expenses is calculated by subtracting customer related expenses from adjusted noninterest expense. Efficiency ratio is calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs) by total revenue (the sum of net interest income and noninterest income, less gain (loss) on sale of securities). Adjusted efficiency ratio is calculated by dividing adjusted noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs, customer related expenses and any unusual one-item items) by adjusted total revenue (the sum of net interest income and noninterest income, less gain (loss) on sale of securities and customer related expense). Economic coverage ratio is calculated by dividing the allowance for credit losses adjusted for the impact of the credit- linked notes and unearned credit mark from purchase accounting by loans and leases held for investment. Core deposits is calculated as total deposits less brokered CDs. Core loan portfolio is calculated as total loans held for investment less premium finance loans, student loans, and Civic loans. Core loan portfolio growth is calculated as the percentage difference between the adjusted 2Q25 core loan portfolio balance and the 1Q25 core loan portfolio balance. Adjusted ACL ratio is calculated by dividing adjusted ACL for lower loss loan categories by adjusted loans and leases held for investment. Management believes the presentation of these financial measures adjusting the impact of these items provides useful supplemental information that is essential to a proper understanding of the financial results and operating performance of the Company. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. The following tables on pages 32-41 provide reconciliations of the non-GAAP measures to financial measures defined by GAAP. Second Quarter 2025 Earnings \| 31

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Non-GAAP Reconciliation 1. Tangible common equity divided by tangible assets. 2. Total common equity divided by common shares outstanding. 3. Tangible common equity divided by common shares outstanding. 4. Common shares outstanding include non-voting common stock equivalents that are participating securities. ($ in thousands, except per share data) 2Q25 1Q25 4Q24 3Q24 2Q24 Tangible Common Equity Ratio Total stockholders' equity $3,426,843 $3,521,656 $3,499,949 $3,496,198 $3,407,848 Less: preferred stock 498,516 498,516 498,516 498,516 498,516 Total common equity 2,928,327 3,023,140 3,001,433 2,997,682 2,909,332 Less: goodwill and intangible assets 333,451 340,458 347,465 357,332 364,819 Tangible common equity $2,594,876 $2,682,682 $2,653,968 $2,640,350 $2,544,513 Total assets 34,250,453 33,779,918 33,542,864 33,432,613 35,243,839 Less: goodwill and intangible assets 333,451 340,458 347,465 357,332 364,819 Tangible assets $33,917,002 $33,439,460 $33,195,399 $33,075,281 $34,879,020 Total stockholders' equity to total assets 10.01% 10.43% 10.43% 10.46% 9.67% Tangible common equity ratio(1) 7.65% 8.02% 7.99% 7.98% 7.30% Book value per common share(2) $18.58 $18.17 $17.78 $17.75 $17.23 Tangible book value per common share(3) $16.46 $16.12 $15.72 $15.63 $15.07 Common shares outstanding(4) 157,647,137 166,403,086 168,825,656 168,879,566 168,875,712 Second Quarter 2025 Earnings \| 32

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Non-GAAP Reconciliation 1. Effective tax rates of 23.12%, 25.30%, 24.76%, 27.61%, and 28.62%, used for the three months ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024,and June 30, 2024, respectively. 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. 4. Annualized adjusted net earnings available to common and equivalent stockholders for adjusted ROATCE divided by average tangible common equity. Second Quarter 2025 Earnings \| 33 ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 Return on Average Tangible Common Equity ("ROATCE") Net earnings $28,385 $53,568 $56,919 $8,784 $30,333 Earnings before income taxes $73,061 $70,103 $11,514 $44,637 Add: Intangible asset amortization 7,160 7,770 8,485 8,484 Adjusted earnings before income used for ROATCE 80,221 77,873 19,999 53,121 Adjusted income tax expense (1) (20,296) (19,281) (5,522) (15,203) Adjustments: Intangible asset amortization 7,159 Tax impact of adjustment above (1,655) Adjustment to net earnings 5,504 Adjusted net earnings for ROATCE 33,889 59,925 58,592 14,477 37,918 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net earnings available to common and equivalent stockholders for ROATCE $23,942 $49,978 $48,645 $4,530 $27,971 Net earnings $28,385 $53,568 $56,919 $8,784 $30,333 Earnings before income taxes $73,061 $70,103 $11,514 $44,637 Add: Intangible asset amortization 7,160 7,770 8,485 8,484 Add: Loss on sale of securities NA NA 59,946 NA Less: Acquisition, integration, and reorganization costs NA NA (510) NA Adjusted earnings before income used for ROATCE 80,221 77,873 $79,435 $53,121 Adjusted income tax expense (1) (20,296) (19,281) (21,932) $(15,203) Adjustments: Intangible asset amortization 7,159 Provision for credit losses related to transfer of loans to held for sale 26,289 Total adjustments 33,448 Tax impact of adjustments above (7,733) Income tax related adjustments (1) 9,792 Adjustment to net earnings 35,507 Adjusted net earnings for adjusted ROATCE 63,892 59,925 58,592 57,503 37,918 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net earnings available to common and equivalent stockholders for adjusted ROATCE $53,945 $49,978 $48,645 $47,556 $27,971 Average total stockholders' equity 3,430,143 3,524,181 3,486,164 3,452,575 3,395,350 Less: Average preferred stock 498,516 498,516 498,516 498,516 498,516 Less: Average goodwill and intangible assets 337,352 344,610 352,907 361,316 352,934 Average tangible common equity $2,594,275 $2,681,055 $2,634,741 $2,592,743 $2,543,900 Return on average equity (2) 3.32% 6.16% 6.50% 1.01% 3.59% Return on average tangible common equity (3) 3.70% 7.56% 7.35% 0.70% 4.42% Adjusted return on average tangible common equity (4) 8.34% 7.56% 7.35% 7.30% 4.42%

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![](investorpresentation_2q2034.jpg)

1. Effective tax rates of 23.12% 25.30%, 24.76%, 27.61%, and 28.62% used for the three months ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively. 2. Adjusted net earnings available to common and equivalent stockholders divided by weighted average common shares outstanding. 3. Annualized net earnings divided by average assets. 4. Annualized adjusted net earnings divided by average assets. Non-GAAP Reconciliation Second Quarter 2025 Earnings \| 34 ($ in thousands, except per share amounts) 2Q25 1Q25 4Q24 3Q24 2Q24 Net earnings $28,385 $53,568 $56,919 $8,784 $30,333 Earnings before income taxes $73,061 $70,103 $11,514 $44,637 Add: Loss on sale of securities NA NA 59,946 NA Less: Acquisition, integration, and reorganization costs NA NA (510) NA Adjusted earnings before income taxes 73,061 70,103 70,950 44,637 Adjusted income tax expense(1) (19,493) (13,184) (19,589) (14,304) Adjustments: Provision for credit losses related to transfer of loans to held for sale 26,289 Tax impact of adjustment above(1) (6,078) Income tax related adjustments 9,792 Adjustment to net earnings 30,003 Adjusted net earnings 58,388 53,568 56,919 51,361 30,333 Less: Preferred stock dividends (9,947) (9,947) (9,947) (9,947) (9,947) Adjusted net earnings available to common and equivalent stockholders $48,441 $43,621 $46,972 $41,414 $20,386 Weighted average common shares outstanding 158,462 169,434 169,732 168,583 168,432 Diluted earnings (loss) per common share $0.12 $0.26 $0.28 ($0.01) $0.12 Adjusted diluted earnings per common share(2) $0.31 $0.26 $0.28 $0.25 $0.12 Average total assets $33,764,149 $33,308,385 $33,562,028 $34,426,185 $35,834,467 Return on average assets ("ROAA")(3) 0.34% 0.65% 0.67% 0.10% 0.34% Adjusted ROAA(4) 0.69% 0.65% 0.67% 0.59% 0.34% Adjusted Net Earnings

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![](investorpresentation_2q2035.jpg)

Non-GAAP Reconciliation ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 PTPP Income Net interest income $240,216 $232,364 $235,285 $232,175 $229,488 Add: Noninterest (loss) income 32,633 33,650 28,989 (15,452) 29,792 Total revenue 272,849 266,014 264,274 216,723 259,280 Less: Noninterest expense (185,869) (183,653) (181,370) (196,209) (203,643) Pre-tax, pre-provision ("PTPP") income $86,980 $82,361 $82,904 $20,514 $55,637 Second Quarter 2025 Earnings \| 35

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![](investorpresentation_2q2036.jpg)

Non-GAAP Reconciliation 1. Noninterest expense used for efficiency ratio divided by total revenue used for efficiency ratio. 2. Noninterest expense used for adjusted efficiency ratio divided by total revenue used for adjusted efficiency ratio. ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 Noninterest expense $185,869 $183,653 $181,370 $196,209 $203,643 Less: Intangible asset amortization (7,159) (7,160) (7,770) (8,485) (8,484) Less: Acquisition, integration, and reorganization costs NA NA 1,023 510 12,650 Noninterest expense used for efficiency ratio $178,710 $176,493 $174,623 $188,234 $207,809 Less: Customer related expense (26,577) (27,751) (31,672) (34,475) (32,405) Noninterest expense used for adjusted efficiency ratio $152,133 $148,742 $142,951 $153,759 $175,404 Total Revenue $272,849 $266,014 $264,274 $216,723 $259,280 Add: Loss on sale of securities NA NA 454 59,946 NA Total revenue used for efficiency ratio $272,849 $266,014 $264,728 $276,669 $259,280 #N/A #N/A #N/A #N/A #N/A Less: Customer related expense (26,577) (27,751) (31,672) (34,475) (32,405) Total revenue used for adjusted efficiency ratio $246,272 $238,263 $233,056 $242,194 $226,875 Noninterest expense to total revenue 68.12% 69.04% 68.63% 90.53% 78.54% Efficiency ratio(1) 65.50% 66.35% 65.96% 68.04% 80.15% Adjusted efficiency ratio(2) 61.77% 62.43% 61.34% 63.49% 77.31% Adjusted Efficiency Ratio Second Quarter 2025 Earnings \| 36

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![](investorpresentation_2q2037.jpg)

Non-GAAP Reconciliation ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 Noninterest expense $185,869 $183,653 $181,370 $196,209 $203,643 Less: Acquisition, integration, and reorganization costs NA NA 1,023 510 12,650 Adjusted noninterest expense $185,869 $183,653 $182,393 $196,719 $216,293 Less: Customer related expense (26,577) (27,751) (31,672) (34,475) (32,405) Adjusted noninterest expense excluding customer related expense $159,292 $155,902 $150,721 $162,244 $183,888 Average assets $33,764,149 $33,308,385 $33,562,028 $34,426,185 $35,834,467 Noninterest expense to average total assets 2.21% 2.24% 2.15% 2.27% 2.29% Adjusted noninterest expense to average total assets 2.21% 2.24% 2.16% 2.27% 2.43% Adjusted noninterest expense excluding customer related expense to average total assets 1.89% 1.90% 1.79% 1.87% 2.06% Adjusted Noninterest Expense to Average Total Assets Second Quarter 2025 Earnings \| 37

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![](investorpresentation_2q2038.jpg)

Non-GAAP Reconciliation Second Quarter 2025 Earnings \| 38 ($ in thousands) 2Q25 1Q25 2Q24 Total Deposits $27,528 $27,193 $28,804 Less: Brokered CDs (2,312) (1,995) (4,034) Total Core Deposits $25,216 $25,198 $24,770 Core Deposits

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![](investorpresentation_2q2039.jpg)

Non-GAAP Reconciliation Second Quarter 2025 Earnings \| 39 ($ in thousands) 2Q25 1Q25 Total Loans HFI $24,246 $24,127 Discontinued Area Loans Less: Premium Finance Loans (473) (518) Less: Student Loans (286) (298) Less: Civic Loans (75) (103) Total Discontinued Area Loans ($834) ($918) Total Core Loans $23,412 $23,208 Core Loans ($ in thousands) 2Q25 2Q25 Core Loan Portfolio Balance $23,412 Add: Loans moved to HFS through loan sale(1) 476 Adjusted 2Q25 Core Loan Portfolio Balance $23,888 1Q25 Core Loan Portfolio Balance $23,208 2Q25 Annualized Adjusted Core Loan Portfolio Growth 11.8% Core Loan Portfolio Growth 1. Represents core loans excluding HFS LOCOM mark.

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![](investorpresentation_2q2040.jpg)

Non-GAAP Reconciliation 1. Unearned credit mark from purchase accounting estimated by using the same pro rata split between the credit and yield marks associated with the non-PCD loans (purchased loans without credit deterioration at the time of the purchase) at the time of the acquisition. 2. Credit-linked notes loss coverage equal to 5% of the unpaid principal balance of the pledged loans. 3. Allowance for credit losses divided by loans and leases held for investment. 4. Adjusted allowance for credit losses divided by loans and leases held for investment. Second Quarter 2025 Earnings \| 40 ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 Allowance for credit losses ("ACL") $258,565 $264,557 $268,431 $281,916 $275,333 Add: Unearned credit mark from purchase accounting (1) 19,199 20,870 22,473 24,678 26,982 Add: Credit-linked notes(2) 112,887 115,188 116,991 120,617 122,523 Adjusted allowance for credit losses $390,651 $400,616 $407,896 $427,212 $424,837 Loans and leases held for investment $24,245,893 $24,126,527 $23,781,663 $23,527,777 $23,228,909 ACL to loans and leases held for investment(3) 1.07% 1.10% 1.13% 1.20% 1.19% Economic coverage ratio(4) 1.61% 1.66% 1.72% 1.82% 1.83% Economic coverage ratio

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![](investorpresentation_2q2041.jpg)

Non-GAAP Reconciliation 1. Lower loss loan categories include warehouse lending loans, equity fund loans, lender finance loans, and residential mortgage loans. 2. ACL divided by loans and leases held for investment. 3. Adjusted ACL for lower loss loan categories (includes SFR, Warehouse, Fund Finance, and Lender Finance) divided by adjusted loans and leases held for investment. Second Quarter 2025 Earnings \| 41 ($ in thousands) 2Q25 Allowance for credit losses ("ACL") $258,565 Less: ACL on lower loss loan categories: ACL on warehouse lending loan portfolio (3,321) ACL on equity fund loan portfolio (465) ACL on lender finance loan portfolio (4,089) ACL on single family residential mortgage loans (2,108) Adjusted ACL for total lower loss loan categories(1) $248,582 $- Loans and leases held for investment $24,245,893 Less: Lower loss loan categories: Warehouse lending loan portfolio (1,610,354) Equity fund loan portfolio (1,194,219) Lender finance loan portfolio (1,190,285) Single family residential mortgage loans (2,960,729) Adjusted loans and leases held for investment(1) $17,290,306 ACL to loans and leases held for investment(2) 1.07% Adjusted ACL excluding SFR loans 1.20% Adjusted ACL excluding SFR and warehouse loans 1.29% Adjusted ACL for total lower loss loan categories to adjusted loans and leases held for investment(3) 1.44% Adjusted ACL for Lower Loss Loan Categories Ratio

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