Banc of California (BANC) Misses Q4 EPS by 9c

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Go back to Banc of California (BANC) Misses Q4 EPS by 9c

Banc of California Reports Fourth Quarter 2021 Financial Results

January 25, 2022 6:03 AM EST

SANTA ANA, Calif.--(BUSINESS WIRE)-- Banc of California, Inc. (NYSE: BANC) today reported net income of $5.8 million and net income available to common stockholders for the fourth quarter of 2021 of $4.0 million, or $0.07 per diluted common share. This compares to net income of $23.2 million and net income available to common stockholders of $21.4 million, or $0.42 per diluted common share, for the third quarter. The fourth quarter of 2021 included $13.5 million of pre-tax merger costs and $11.3 million of provision for credit losses for the loans acquired in the Pacific Mercantile Bancorp acquisition. For the year ended December 31,... More