Keefe, Bruyette & Woods Upgrades Banc of California (BANC) to Outperform

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Go back to Keefe, Bruyette & Woods Upgrades Banc of California (BANC) to Outperform

Banc of California Reports Record First Quarter Earnings

April 21, 2016 6:00 AM EDT

IRVINE, Calif., April 21, 2016 /PRNewswire/ -- Banc of California, Inc. (NYSE: BANC) today reported record quarterly net income of $19.7 million for the first quarter of 2016, resulting in diluted earnings per share of $0.36 for the quarter.

Pre-tax income for the first quarter of 2016 was $33.0 million, an increase of 49% compared to first quarter of 2015.  Net income available to common shareholders for the first quarter was $15.1 million, an increase of 30% compared to the first quarter of 2015.

Highlights for the first quarter included:

Record quarterly non-interest bearing deposit growth of $278 million, or 25%.... More