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Banc of California Inc. (BANC)
NYSE:BANC
Earnings Data
Report Date
Apr 17, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.23Last Year’s EPS
0.17Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 23, 2025
|% Change Since: -18.75%
|Next Earnings Date:Apr 17, 2025
Earnings Call Sentiment|Positive
The call emphasized strong core profitability growth, expansion in net interest margin, and significant cost synergies post-merger. There were challenges due to an increase in nonaccrual loans and charge-offs in specific segments, but these were largely isolated incidents. The bank demonstrated resilience in the face of external challenges like the wildfires, with no significant impact on their financials.Company Guidance
In the fourth quarter 2024 earnings call for Banc of California, the executives provided several key metrics and guidance for the upcoming year. They reported a net income of $47 million, with earnings per share (EPS) rising to $0.28. The net interest margin (NIM) expanded by 135 basis points year-over-year, reaching 3.04%, driven by a 27 basis point decline in the cost of funds. The bank achieved a significant reduction in noninterest operating expenses, which decreased by 36% from the fourth quarter of 2023. They also reported growth in noninterest-bearing deposits, which constituted 29.1% of total average deposits, up nearly 7% from the previous year. Credit metrics showed a reserve level at 1.13% of total loans, with a 142% coverage of nonperforming loans. The bank expects mid- to upper single-digit loan growth in 2025, primarily in warehouse, fund finance, and lender finance portfolios, with a continued focus on reducing the cost of deposits and expanding client relationships. Additionally, they are targeting a net interest margin range of 3.20% to 3.30% for the entire year, assuming no further Fed rate cuts.Strong Core Profitability Growth
EPS increased to $0.28, with a significant improvement in core profitability and higher profitability metrics across the board.
Net Interest Margin Expansion
Net interest margin (NIM) expanded by 135 basis points year-over-year, with a current NIM of 3.04%, expected to grow to 3.20%-3.30% in 2025 assuming no further Fed rate cuts.
Reduction in Wholesale Funding and Cost Synergies
Wholesale funding was reduced from nearly 17% in Q4 2023 to 10.3% of assets. Noninterest operating expenses decreased by 36% from a normalized Q4 2023.
Loan Growth and Portfolio Diversification
C&I loans grew to 30.1% of the core loan portfolio from 25.6% a year ago. New loan production rates were above 7%.
Improved Deposit Mix
NIB grew to 29.1% of total average deposits, up nearly 7% from a year ago, and cost of deposits declined 28 basis points to 2.26%.
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BANC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BANC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $15.95 | $15.58 | -2.32% |
| Oct 22, 2024 | $14.60 | $15.21 | +4.18% |
| Jul 23, 2024 | $14.38 | $13.55 | -5.77% |
| Apr 23, 2024 | $13.80 | $13.56 | -1.74% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Banc of California Inc. (BANC) report earnings?
Banc of California Inc. (BANC) is schdueled to report earning on Apr 17, 2025, TBA Not Confirmed.
What is Banc of California Inc. (BANC) earnings time?
Banc of California Inc. (BANC) earnings time is at Apr 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BANC EPS forecast?
BANC EPS forecast for the fiscal quarter 2025 (Q1) is 0.23.
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