Banc of California (BANC) Misses Q2 EPS by 5c
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Banc of California Reports Second Quarter 2020 Financial Results
July 23, 2020 6:00 AM EDTSANTA ANA, Calif.--(BUSINESS WIRE)-- Banc of California, Inc. (NYSE: BANC) today reported net loss available to common stockholders for the second quarter of 2020 of $21.9 million, or diluted loss per common share of $0.44. Financial results for the second quarter of 2020 included a one-time pre-tax charge of $26.8 million related to the termination of the Companys multi-year naming rights agreements, entered into in 2017 with the Los Angeles Football Club (LAFC). The buyout of the agreement and restructuring of the relationship will result in estimated pre-tax cost savings of approximately $89 million over the next 12.5 years, or... More
