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AI brief of an SEC Form 8-K · Banc Of California (BANC)

Banc of California reports Q3 net loss of $1.2 million after $60 million securities loss

Mixed Impact 4 of 5 earnings Written later

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%.

Key points

  • 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

The filing

CompanyBanc Of California (BANC)
Form8-K, current report
Filed with the SECOct 22, 2024, 6:15 AM ET
Accession number0001140361-24-043841

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing 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 October 22, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.