Banc of California (NYSE: BANC) reported Q3 EPS of $0.07, $0.13 worse than the analyst estimate of $0.20.

"We continue to execute on our strategic plan and the third quarter saw yet more progress," said Doug Bowers, President and Chief Executive Officer of Banc of California. "We saw strong growth in our core deposits with balances increasing $171 million for the quarter or 11% annualized. Loan growth was also strong at $217 million or 12% annualized. Efforts to streamline, simplify and create efficiencies are also paying dividends as noninterest expense, excluding non-recurring items, once again declined. Credit quality remained strong with non-performing assets to total assets at 0.25%."

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