Banc of California (BANC) Tops Q4 EPS by 4c

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Go back to Banc of California (BANC) Tops Q4 EPS by 4c

Banc of California Reports Fourth Quarter 2019 Financial Results

January 23, 2020 6:00 AM EST

SANTA ANA, Calif.--(BUSINESS WIRE)-- Banc of California, Inc. (NYSE: BANC) today reported net income available to common stockholders for the fourth quarter of $10.4 million, resulting in diluted income per common share of $0.20.

Highlights for the fourth quarter (as compared to third quarter 2019) included:

Net interest margin increased 18 basis points to 3.04% Cost of total deposits decreased by 21 basis points to 1.27% Noninterest-bearing deposit balances increased to 20.1% of total deposits, up from 19.2% Average noninterest-bearing deposits increased by $60 million, or 5.7% Return on average assets was 0.71%... More