Banc of California (BANC) Misses Q4 EPS by 10c

Banc of California (NYSE: BANC) reported Q4 EPS of $0.13, $0.10 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $64.03 million versus the consensus estimate of $71.28 million.

"We continue to lay the foundation to support the development of our core commercial banking platform," said Doug Bowers, President and Chief Executive Officer of Banc of California. "We saw strong organic loan growth with balances increasing $448 million for the quarter or 25% annualized. Core deposit growth came in below expectations for the quarter, but was up 10% for the full year. Efforts to de-risk the balance sheet, build front line business units and simplify the operating platform further reflect our efforts to build California\'s bank. Credit quality remained strong with non-performing assets to total assets at 0.21% at quarter end."

For earnings history and earnings-related data on Banc of California (BANC) click here.

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