Banc of California Inc. ( (BANC) ) has released its Q4 earnings. Here is a breakdown of the information Banc of California Inc. presented to its investors.
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Banc of California, Inc., a bank holding company, operates as a relationship-based business bank providing a range of banking and treasury management services to various businesses, and is headquartered in Los Angeles, California. The company recently reported its fourth-quarter earnings with a diluted earnings per share of $0.28, highlighting strong net interest margin expansion and reduced noninterest expenses. Key financial metrics from the report include a significant increase in net earnings to $47.0 million for the fourth quarter, a continued expansion of net interest margin to 3.04%, and a reduction in noninterest expense by 7.6% compared to the previous quarter. Additionally, Banc of California showed growth in its loan portfolio, a decrease in funding costs, and strengthened capital ratios. The company has also taken steps to support the community affected by recent Southern California wildfires through its relief fund. Looking forward, Banc of California’s management expressed confidence in further growing their balance sheet in 2025, leveraging the positive economic outlook and recent gains in loans and deposits.
