Banc of California (BANC) Misses Q1 EPS by 9c

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Go back to Banc of California (BANC) Misses Q1 EPS by 9c

Banc of California Reports First Quarter 2021 Financial Results

April 22, 2021 6:00 AM EDT

SANTA ANA, Calif.--(BUSINESS WIRE)-- Banc of California, Inc. (NYSE: BANC) today reported net income of $14.4 million and net income available to common stockholders for the first quarter of 2021 of $7.8 million, or diluted earnings per common share of $0.15.

Highlights for the first quarter included:

Return on average assets of 0.74% Average cost of total deposits of 0.28%, an 8 basis point decrease from the prior quarter, and period-end total cost of deposits of 0.24% Noninterest-bearing deposit balances represented 28% of total deposits at March 31, 2021, up from 23% a year... More