Banc of California (BANC) Tops Q4 EPS by 17c

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Go back to Banc of California (BANC) Tops Q4 EPS by 17c

Banc of California Reports Fourth Quarter 2020 Financial Results

January 21, 2021 6:00 AM EST

SANTA ANA, Calif.--(BUSINESS WIRE)-- Banc of California, Inc. (NYSE: BANC) today reported net income of $21.7 million and net income available to common stockholders for the fourth quarter of 2020 of $17.7 million, or diluted earnings per common share of $0.35.

Highlights for the fourth quarter included:

Return on average assets of 1.11% Net interest margin of 3.38%, a 29 basis points increase from the prior quarter Average cost of total deposits of 0.36%, a 15 basis points decrease from the prior quarter, and period-end cost of deposits at 0.29% Noninterest-bearing deposit balances increased... More