BANC OF CALIFORNIA, INC. BANC
Banc of California, Inc., a Maryland corporation, was incorporated in March 2002 and serves as the holding company for its wholly owned subsidiary, Banc of California (the "Bank"), a California state-chartered bank and a member of the FRB. When we refer to the "parent" or the "holding company," we are referring to Banc of California, Inc., the parent company, on a stand-alone basis. When we refer to "we," "us," "our," or the "Company," we are referring to Banc of California, Inc. and its consolidated subsidiaries including the Bank, collectively. As a bank holding company, the holding company is subject to ongoing and comprehensive supervision, regulation, examination, and enforcement by the FRB. As a California state-chartered bank that is a member of the FRB, the Bank is subject to ongoing and comprehensive supervision, regulation, examination, and enforcement by the DFPI and the FRB.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $38.8M | $37.2M | $33.8M | $30.7M | $24.8M | $3.8M | $4.0M | $5.6M | $6.6M | $6.3M |
| Interest expense | $977.4M | $926.0M | $747.1M | $265.7M | $54.9M | $66.0M | $142.9M | $136.7M | $85.0M | $59.5M |
| Pre-tax income | $313.1M | $168.7M | -$2.21B | $567.6M | $822.3M | $14.4M | $28.0M | $47.0M | $26.9M | $100.5M |
| Income tax | $84.1M | $41.8M | $312.2M | $144.0M | $215.4M | $1.8M | $4.2M | $4.8M | $26.6M | $13.7M |
| Net income | $229.0M | $126.9M | -$1.90B | $423.6M | $607.0M | $12.6M | $23.8M | $45.5M | $57.7M | $115.4M |
| EPS, basic | 1.18 | 0.52 | -22.71 | 5.14 | 7.76 | — | 0.05 | 0.45 | 0.72 | 1.97 |
| EPS, diluted | 1.17 | 0.52 | -22.71 | 5.14 | 7.76 | — | 0.05 | 0.45 | 0.71 | 1.94 |
| Shares, diluted (wtd. avg.) | $161.7M | $168.7M | $85.4M | $77.3M | $76.9M | — | $50.7M | $50.9M | $50.8M | $47.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.31B | $2.50B | $5.38B | $2.24B | $4.06B | $3.16B | $373.5M | $391.6M | $387.7M | $439.5M |
| Property, plant and equipment | $146.7M | $142.5M | $146.8M | $54.3M | — | $121.5M | $128.0M | $129.4M | $135.7M | $140.9M |
| Goodwill | $214.5M | $214.5M | $198.6M | $1.38B | $1.41B | $37.1M | $37.1M | $37.1M | $37.1M | $39.2M |
| Other intangibles | $105.3M | $132.9M | $165.5M | $31.4M | $45.0M | $2.6M | $4.2M | $6.3M | $9.4M | $13.6M |
| Total assets | $34.80B | $33.54B | $38.53B | $41.23B | $9.39B | $7.88B | $7.83B | $10.63B | $10.33B | $11.03B |
| Long-term debt | $2.06B | $1.39B | $2.91B | $1.76B | — | — | $173.4M | $173.2M | — | — |
| Total liabilities | $31.26B | $30.04B | $35.14B | $37.28B | $8.33B | $6.98B | $6.92B | $9.68B | $9.32B | $10.05B |
| Retained earnings | -$242.0M | -$431.2M | -$518.3M | $1.42B | $147.9M | $110.2M | $127.7M | $141.0M | $144.8M | $134.5M |
| Total equity | $3.54B | $3.50B | $3.39B | $3.95B | $4.00B | $3.59B | $907.2M | $945.5M | $1.01B | $980.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $255.6M | $77.4M | $135.8M | $702.0M | $503.0M | $74.9M | $80.3M | $123.0M | $563.0M | $18.1M |
| Depreciation and amortisation | $49.3M | $54.6M | $52.7M | $53.6M | $52.2M | $16.3M | $16.4M | $10.9M | $12.4M | $11.7M |
| Stock-based compensation | — | — | — | $6.2M | $5.3M | $5.8M | $5.0M | $6.6M | $12.1M | $11.9M |
| Capital expenditure | $20.8M | $13.0M | $15.2M | $20.1M | $17.3M | $5.1M | $10.5M | $9.0M | $15.3M | $44.7M |
| Investing cash flow | -$1.48B | $1.89B | $12.61B | -$3.57B | -$5.71B | -$266.9M | $2.80B | -$469.7M | $151.9M | -$2.32B |
| Financing cash flow | $1.03B | -$4.84B | -$9.61B | $1.05B | $6.11B | $39.4M | -$2.89B | $350.6M | -$766.7M | $2.58B |
| Dividends paid | — | $68.3M | $48.9M | $120.3M | $119.4M | $11.8M | $15.7M | $32.7M | $25.7M | $21.8M |
| Buybacks | $0 | — | — | $75.1M | $0 | $12.0M | $0 | $0 | — | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-012946.
Others in SIC 6021
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|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | $136.66B | 54.5x | 36.3% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | $97.98B | 14.8x | 7.2% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |