Every material Form 8-K Banc Of California has filed with the SEC since January 25, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Banc of California reported third quarter 2026 net earnings available to common stockholders of $73.1 million, or $0.46 per diluted share, compared with $0.38 a year earlier, and total revenue rose 6% year over year to $303.8 million. The results follow a second quarter net loss of $251.3 million, or $(1.61) per diluted share, tied to a balance sheet repositioning, and management said it expects further profitability improvement in the fourth quarter.
Diluted EPS of $0.46 for Q3 2026, up from $0.38 in Q3 2025; net earnings available to common of $73.1 million
Total revenue of $303.8 million, up 6% year over year; net interest margin of 3.34%
Q2 2026 net loss available to common of $251.3 million, or $(1.61) per diluted share, reflecting the strategic balance sheet repositioning
Earnings conference call set for 8:30 A.M. Pacific Time on October 28, 2026
Banc of California reported a second-quarter net loss available to common stockholders of $251.3 million, or $(1.61) per diluted share, compared with earnings of $0.39 per share in the first quarter and $0.12 per share a year earlier. The loss reflects one-time charges from a securities repositioning, a targeted loan sale and the early retirement of subordinated debt, which management says are intended to raise net interest margin and long-term earnings.
Net loss available to common stockholders of $251.3 million, or $(1.61) per diluted share, versus $0.39 per share in Q1 2026 and $0.12 per share in Q2 2025
Pre-tax loss of $256.7 million on the sale of $2.3 billion of lower-yielding securities; provision for credit losses rose to $161.8 million from $9.8 million in Q1
Company expects net interest margin to rise to about 3.30% and the CET1 ratio to about 9.45-9.50% when the $827.0 million loan sale closes, which it expects in the third quarter
Book value per share was $18.38 and tangible book value per share was $16.44 at June 30, 2026
Banc of California reported first-quarter 2026 net earnings available to common stockholders of $62.0 million, or $0.39 per diluted share, compared with $0.26 a year earlier and $0.42 in the fourth quarter of 2025. Total revenue was $286.9 million, up 8% year over year but down from $292.9 million in the prior quarter, and delinquent loans rose to $345.1 million from $201.0 million at December 31, 2025.
Diluted EPS of $0.39 vs. $0.26 in Q1 2025 and $0.42 in Q4 2025
Total revenue of $286.9 million, up 8% year over year; net interest margin of 3.24%
Total delinquent loans and leases of $345.1 million at March 31, 2026, vs. $201.0 million at December 31, 2025
Repurchased $31.9 million of common stock; plans to redeem $385 million of subordinated debt
Banc of California reported fourth-quarter and full-year 2025 results on January 21, 2026. Net earnings available to common stockholders rose to $67.4 million, or $0.42 per diluted share, from $59.7 million, or $0.38, in the third quarter, and full-year 2025 earnings were $189.2 million, or $1.17 per diluted share, versus $0.52 in 2024. Shareholders get higher quarterly and annual earnings per share, though the provision for credit losses also increased.
Q4 2025 diluted EPS $0.42 vs. $0.38 in Q3 2025; total revenue $292.9 million vs. $287.7 million in Q3
Full-year 2025 diluted EPS $1.17 vs. $0.52 in 2024; net earnings available to common stockholders $189.2 million vs. $87.1 million
Full-year 2025 provision for credit losses $70.6 million vs. $42.8 million in 2024
Conference call at 10:00 A.M. Pacific Time on Thursday, January 22, 2026
Banc of California reported third quarter 2025 diluted earnings per share of $0.38, or $59.7 million in net earnings available to common stockholders, up from $0.12 in the second quarter. The second quarter included a $20.2 million net-of-tax provision tied to loans transferred to held for sale. Total revenue rose 5% to $287.7 million, pre-tax pre-provision income rose 17% to $102.0 million, and noninterest expense was flat at $185.7 million.
Net interest margin was 3.22%, up 12 basis points from 3.10% in the second quarter
Provision for credit losses was $9.7 million in the third quarter, down from $39.1 million in the second quarter
Repurchased 2.2 million shares for $35.5 million in the third quarter and 13.6 million shares for $185.5 million year to date
Book value per share was $19.09 and tangible book value per share was $16.99, each up 3% from the second quarter
Banc of California reported second quarter 2025 GAAP earnings of $0.12 per diluted share, down from $0.26 in the first quarter, with net earnings available to common stockholders of $18.4 million. Management said adjusted EPS was $0.31, but the GAAP decline reflects a $39.1 million credit loss provision tied partly to $506.7 million of loans moved to held for sale and a $9.8 million one-time tax charge, which matter to shareholders' reported profit.
GAAP diluted EPS was $0.12 versus $0.26 in Q1 2025; adjusted EPS was $0.31
Total revenue rose 3% to $272.8 million; the provision for credit losses was $39.1 million versus $9.3 million in Q1
$506.7 million of loans were transferred to held for sale, with $441.2 million carrying value after the transfer
The company repurchased $111.5 million of common stock in the second quarter and had $150.0 million left under its authorization as of June 30, 2025
Banc of California reported first-quarter 2025 diluted EPS of $0.26, down from $0.28 in the fourth quarter of 2024, on net earnings available to common stockholders of $43.6 million. Total revenue rose to $266.0 million from $264.3 million, and the company raised its stock repurchase program from $150 million to $300 million, with $150.0 million bought through April 21, 2025.
Q1 2025 diluted EPS $0.26 vs $0.28 in Q4 2024 and $0.12 in Q1 2024
Total revenue $266.0 million vs $264.3 million in Q4 2024
Net interest margin 3.08% vs 3.04% in Q4 2024; loans held for investment $24.1 billion, up 6% annualized
Buyback upsized to $300 million; $150.0 million purchased through April 21, 2025
Banc of California appointed Karen Hon as Chief Accounting Officer of the company and its bank, effective March 4, 2025, replacing interim CAO Jeff Krumpoch, who is retiring on April 1. Hon will receive an annual base salary of $425,000 and is eligible for an annual bonus and long-term equity awards. The change concerns senior finance leadership rather than reported financial results.
Karen Hon, age 48, appointed Chief Accounting Officer effective March 4, 2025; she previously spent 17 years at Silicon Valley Bank, most recently as its Chief Accounting Officer
Annual base salary of $425,000, with eligibility for an annual bonus, long-term incentive equity awards and the Executive Change in Control Severance Plan
Jeff Krumpoch, Interim Chief Accounting Officer, is retiring on April 1 after 23 years of service with the company and PacWest Bancorp
Hon reports to Joe Kauder, Executive Vice President and Chief Financial Officer
Banc of California reported fourth-quarter 2024 net earnings available to common stockholders of $47.0 million, or $0.28 per diluted share, compared with a third-quarter loss of $1.2 million, or $0.01 per share. The improvement was driven mainly by a net interest margin of 3.04%, up 11 basis points from the prior quarter, and lower noninterest expenses, while delinquent loans rose to $180.2 million.
Q4 2024 net earnings available to common stockholders: $47.0 million, or $0.28 per diluted share, versus a Q3 2024 loss of $1.2 million, or $0.01 per share
Full-year 2024 net income available to common stockholders: $87.1 million, or $0.52 per diluted share; adjusted basis $135.4 million, or $0.80 per share
Net interest margin of 3.04%, up 11 basis points from Q3 2024 and 135 basis points year over year; noninterest expense fell 7.6% from Q3 to $181.4 million
Total delinquent loans rose to $180.2 million at December 31, 2024, from $125.0 million at September 30, 2024; nonperforming assets were $199.3 million
Banc of California reported a third-quarter 2024 net loss available to common stockholders of $1.2 million, or $0.01 per diluted share, compared with net earnings of $20.4 million, or $0.12 per diluted share, in the second quarter. The result includes a $60 million pre-tax loss from repositioning $742 million of securities, while adjusted net earnings were $41.4 million, or $0.25 per diluted share, and net interest margin rose to 2.93%.
GAAP net loss available to common stockholders of $1.2 million, or $0.01 per diluted share, for Q3 2024, versus $20.4 million, or $0.12, in Q2 2024
Adjusted net earnings of $41.4 million, or $0.25 per diluted share, include a $60 million pre-tax loss on the securities repositioning
Net interest margin increased 13 basis points to 2.93%; total revenue was $216.7 million versus $259.3 million in Q2
Nonperforming assets rose to $177.0 million, or 0.53% of total assets, from $130.4 million at June 30, 2024
Banc of California said its Executive Vice President and Chief Operating Officer, John Sotoodeh, will leave the company effective November 7, 2024, to pursue other opportunities and relocate to Texas. He will provide transition support in an advisory role until his departure date. The departure of a senior operating executive is a leadership change shareholders may want to monitor, though the filing does not describe a successor or any financial effect.
John Sotoodeh, EVP and Chief Operating Officer, departs effective November 7, 2024
Stated reasons: pursuing other opportunities and relocating to Texas to spend more time with his family
Sotoodeh will serve in an advisory role for transition support through his departure date
Filing was signed October 9, 2024 by Ido Dotan, EVP, General Counsel and Corporate Secretary
Banc of California said Executive Vice President and Chief Accounting Officer Monica Sparks will resign, with her last day expected to be September 19, 2024. The company appointed Jeffrey Krumpoch, its former Senior Vice President and Corporate Controller, as Interim Chief Accounting Officer, effective when Ms. Sparks departs. The change affects the executive responsible for accounting oversight, but the filing describes it as a planned transition.
Monica Sparks notified the company of her resignation on August 23, 2024 and will serve through September 19, 2024.
Jeffrey Krumpoch, age 68, was appointed Interim Chief Accounting Officer on August 27, 2024.
Mr. Krumpoch will receive a one-time cash bonus of $35,000 for the interim role.
He has worked at the company or its predecessor PacWest Bancorp since 2002.
Banc of California reported second quarter 2024 net earnings available to common stockholders of $20.4 million, or $0.12 per diluted share, roughly unchanged from the first quarter. Total revenue declined and net charge-offs rose to $55.7 million, while net interest margin widened to 2.80% and a $1.95 billion CIVIC loan sale closed on July 18, 2024, with net proceeds of $1.91 billion that the company says will increase its CET1 capital ratio by more than 30 basis points.
Net earnings available to common stockholders were $20.4 million, or $0.12 per diluted share, versus $20.9 million, or $0.12, in the first quarter of 2024.
Total revenue was $259.3 million, down from $262.9 million in the first quarter; net interest margin rose 14 basis points to 2.80%.
Net charge-offs rose to $55.7 million from $1.2 million in the first quarter, including $28.7 million of CIVIC charge-offs.
The $1.95 billion CIVIC loan sale closed on July 18, 2024, generating net proceeds of $1.91 billion.
Banc of California dismissed KPMG LLP as its independent auditor, effective immediately, and engaged Ernst & Young LLP for the year ending December 31, 2024. The company also signed an amended and restated employment agreement with CEO Jared M. Wolff, which includes a $2.2 million cash retention bonus and larger severance terms.
KPMG dismissal approved by the Audit Committee on May 14, 2024; KPMG's audit reports for 2022 and 2023 contained no adverse opinion, disclaimer, or qualification
EY approved on May 14, 2024 as the new auditor for the year ending December 31, 2024
Wolff's new agreement, effective May 17, 2024, has a three-year term, a 150% annual bonus target, and a $2.2 million retention bonus payable within 15 days
Severance is two times salary plus target bonus, or three times if the termination occurs within six months before or two years after a change of control
Banc of California reported first-quarter 2024 net earnings available to common stockholders of $28.2 million, or $0.17 per diluted share, compared with a net loss of $492.9 million, or $4.55 per share, in the fourth quarter of 2023. Net interest income rose $88.1 million to $239.1 million, while the fourth quarter included $442.4 million of losses on security sales and $111.8 million of merger costs. The company's CEO said it remains on track toward its stated profitability targets for the fourth quarter of 2024.
Net earnings available to common stockholders: $28.2 million, or $0.17 per diluted share; $31.7 million, or $0.19 per share, excluding the FDIC special assessment
Net interest income increased $88.1 million, or 58%, to $239.1 million; net interest margin rose to 2.78% from 1.69%
Nonperforming assets rose to $158.5 million, or 0.44% of total assets, from $81.7 million at December 31, 2023
Book value per share increased to $17.18 at March 31, 2024
Banc of California reported a fourth-quarter 2023 net loss of $492.9 million, or $4.55 per diluted share, compared with a net loss of $33.3 million, or $0.42 per share, in the third quarter. The loss included $442.4 million of pre-tax losses on security sales tied to its balance sheet repositioning and $111.8 million of merger costs from the November 30, 2023 PacWest Bancorp merger. Book value per common share fell to $17.12 from $24.12 at September 30, 2023.
Q4 2023 net loss of $492.9 million, or $4.55 per diluted share, versus a Q3 2023 net loss of $33.3 million, or $0.42 per share.
Pre-tax items included $442.4 million of losses on security sales and $111.8 million of merger costs.
Total assets were $38.5 billion at December 31, 2023; book value per common share was $17.12.
Management will hold a conference call at 10:00 A.M. Pacific Time on January 25, 2024.
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