Banc of California Q2 profit $20.4 million, $0.12 a share, flat from first quarter
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.
Key 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.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:49 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 23, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.