Banc of California Inc. (BANC) Financial Statements (2024 and earlier)

Company Profile

Business Address 3 MACARTHUR PLACE
SANTA ANA, CA 92707
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments228,896228,123220,819373,472391,592387,699
Cash and cash equivalents228,896228,123220,819373,472391,592387,699
Short-term investments      
Financing receivable, accrued interest, after allowance for credit loss 37,942  
Total current assets:266,838228,123220,819373,472391,592387,699
Noncurrent Assets
Operating lease, right-of-use asset28,78035,44219,63322,540
Property, plant and equipment  121,520128,021129,394135,699
Long-term investments and receivables 90,29525,88827,97729,30028,98848,826
Long-term investments 90,29525,88827,97729,30028,98848,826
Intangible assets, net (including goodwill)129,364100,71239,77741,29543,49046,497
Goodwill114,31294,30137,14437,14437,14437,144
Intangible assets, net (excluding goodwill)15,0526,4112,6334,1516,3469,353
Deferred income tax assets 50,51850,77445,95744,906
Total noncurrent assets:298,957212,816254,864266,062201,872231,022
Other undisclosed assets8,631,2218,952,8047,401,6517,188,87610,036,6039,709,131
TOTAL ASSETS:9,197,0169,393,7437,877,3347,828,41010,630,06710,327,852
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities      
Accrued liabilities      
Debt 20,00070,000135,000639,000840,0001,270,000
Total current liabilities:20,00070,000135,000639,000840,0001,270,000
Noncurrent Liabilities
Other undisclosed liabilities8,217,3988,258,4536,845,1276,282,1658,844,5338,045,544
Total liabilities:8,237,3988,328,4536,980,1276,921,1659,684,5339,315,544
Equity
Equity, attributable to parent, including:959,6181,065,290897,207907,245945,5341,012,308
Preferred stock 94,956184,878189,825231,128269,071
Treasury stock, value (115,907)(40,827)(40,827)(28,786)(28,786)(28,786)
Additional paid in capital866,478854,873634,704629,848625,834621,435
Accumulated other comprehensive income (loss)(40,597)7,7437,746(11,900)(24,117)5,227
Retained earnings (accumulated deficit)248,988147,894110,179127,733140,952144,839
Other undisclosed equity, attributable to parent656651527525523522
Total equity:959,6181,065,290897,207907,245945,5341,012,308
TOTAL LIABILITIES AND EQUITY:9,197,0169,393,7437,877,3347,828,41010,630,06710,327,852

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues326,553264,346263,825345,997346,693309,968
Net investment income334,245264,071261,569342,977339,229289,448
Cost of revenue  (6,854)(29,719)(36,387)(30,215)(13,699)
Provision for loan, lease, and other losses  (6,854)(29,719)(36,387)(30,215)
Financial services costs(13,699)
Gross profit:326,553257,492234,106309,610316,478296,269
Operating expenses(58,650)(64,533)(56,481)(64,820)(92,552)(234,455)
Other operating income, net
(Noninterest Income, Other Operating Income)
 10,5827,2988,9988749,7527,043
Operating income (loss):278,485200,257186,623245,664233,67868,857
Nonoperating income (expense) 3,4022,871(24,280)2,2922,1762,339
Loss on contract termination   (26,769)   
Bank owned life insurance income 3,4022,8712,4892,2922,1762,339
Interest and debt expense(58,407)(37,881)(66,013)(142,948)(136,720)(85,000)
Income (loss) from continuing operations before equity method investments, income taxes:223,480165,24796,330105,00899,134(13,804)
Loss from equity method investments (2,313)   (5,044) 
Other undisclosed income (loss) from continuing operations before income taxes(52,283)(82,625)(81,970)(77,030)(47,099)40,697
Income (loss) from continuing operations before income taxes:168,88482,62214,36027,97846,99126,893
Income tax expense (benefit)(47,945)(20,276)(1,786)(4,219)(4,844)26,581
Income (loss) from continuing operations:120,93962,34612,57423,75942,14753,474
Income before gain (loss) on sale of properties:62,34612,57423,75945,47257,709
Income from discontinued operations     3,3254,235
Net income (loss) attributable to parent:120,93962,34612,57423,75945,47257,709
Preferred stock dividends and other adjustments(1,420)(8,322)(13,869)(20,652)(21,811)(20,451)
Undistributed earnings (loss) allocated to participating securities, basic  (114)   (311)
Other undisclosed net loss available to common stockholders, basic    (483)(811)(811)
Net income (loss) available to common stockholders, diluted:119,51953,910(1,295)2,62422,85036,136

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):120,93962,34612,57423,75945,47257,709
Comprehensive income (loss):120,93962,34612,57423,75945,47257,709
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(48,340)(3)19,64612,217(29,840)14,269
Comprehensive income (loss), net of tax, attributable to parent:72,59962,34332,22035,97615,63271,978

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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