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The latest update is out from Banc of California ( (BANC) ).
Banc of California reported its financial results for the fourth quarter and the full year of 2024, showing a strong performance with net earnings of $47.0 million and diluted earnings per share of $0.28 for the fourth quarter. The company experienced significant year-over-year net interest margin expansion and reduced noninterest expenses, indicating improved operational efficiency. The bank also launched a $1 million wildfire relief fund in response to the Southern California wildfires, demonstrating its commitment to community support. Despite the wildfires, the bank did not observe any material impact on its loan portfolio or facilities, and it remains optimistic about continued growth in 2025, driven by strategic cost reductions and balance sheet improvements.
More about Banc of California
Banc of California is a financial institution operating in the banking industry, providing a range of financial services including loans, deposits, and asset management. The company primarily focuses on serving clients in Southern California and is engaged in activities such as warehouse lending and residential mortgage loan services.
YTD Price Performance: 6.75%
Average Trading Volume: 2,110,736
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $2.74B
Find detailed analytics on BANC stock on TipRanks’ Stock Analysis page.
