Banc of California, Inc. (BANC) Income Statement Analysis

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Complete financial analysis of Banc of California, Inc. (BANC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Banc of California, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.

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Banc of California, Inc. (BANC)

Industry: Banks - Regional

Sector: Financial Services

Website: https://bancofcal.com

About Banc of California, Inc.

Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits. It also provides various commercial and consumer loan products, such as commercial and industrial loans; commercial real estate and multifamily loans; construction loans; single family residential mortgage loans; warehouse and indirect/direct leveraged lending; home equity lines of credit; small business administration loans; and other consumer loans. In addition, the company offers automated bill payment, cash and treasury management, foreign exchange, card payment, remote and mobile deposit capture, automated clearing house origination, wire transfer, direct deposit, and internet banking services; and master demand accounts, interest rate swaps, and safe deposit boxes. Further, it invests in collateralized loan obligations, agency securities, municipal bonds, agency residential mortgage-backed securities, and corporate debt securities. As of December 31, 2020, the company operated 29 full-service branches in Southern California. The company was formerly known as First PacTrust Bancorp, Inc. and changed its name to Banc of California, Inc. in July 2013. Banc of California, Inc. was founded in 1941 and is headquartered in Santa Ana, California.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000
Revenue	278.39M	331.72M	272.71M	243.11M	260.28M	309.99M	348.86M	597.35M	434.02M	300.91M	193.97M	83.17M	34.05M	35.04M	30.50M	25.08M	19.26M	20.79M	21.09M	21.86M	19.84M	14.73M	1.10M	1.53M
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	2.41M	5.84M	19.38M	1.18M	1.49M	12.64M	12.85M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	278.39M	331.72M	272.71M	243.11M	260.28M	307.58M	343.02M	577.98M	432.83M	299.43M	181.33M	70.33M	34.05M	35.04M	30.50M	25.08M	19.26M	20.79M	21.09M	21.86M	19.84M	14.73M	1.10M	1.53M
Gross Profit Ratio	100.00%	100.00%	100.00%	100.00%	100.00%	99.22%	98.33%	96.76%	99.73%	99.51%	93.48%	84.55%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	332.35M	113.06M	103.36M	96.81M	105.92M	109.97M	129.15M	257.92M	213.11M	162.88M	110.69M	41.89M	19.05M	13.43M	9.38M	6.73M	7.27M	7.45M	7.28M	7.07M	6.00M	4.61M	829.00K	0.00
Selling & Marketing	135.67M	0.00	491.00K	3.30M	8.42M	12.66M	5.31M	10.74M	6.16M	5.02M	4.36M	1.05M	477.00K	232.00K	178.00K	319.00K	353.00K	364.00K	429.00K	344.00K	399.00K	282.00K	282.00K	0.00
SG&A	468.02M	113.06M	103.85M	100.11M	114.34M	122.64M	129.15M	257.92M	213.11M	162.88M	110.69M	41.89M	19.52M	13.66M	9.56M	7.05M	7.62M	7.81M	7.71M	7.41M	6.40M	4.89M	1.11M	0.00
Other Expenses	0.00	-45.11M	-293.94M	-328.86M	-346.64M	-257.82M	-102.34M	-86.78M	0.00	0.00	0.00	-97.63M	-50.56M	-34.05M	-24.78M	-11.09M	5.55M	5.59M	-4.67M	-8.88M	-10.03M	-6.92M	12.97M	10.53M
Operating Expenses	498.44M	15.00M	-190.09M	-228.75M	-232.30M	-120.55M	47.73M	42.03M	26.35M	24.26M	18.23M	-55.74M	-31.04M	-20.39M	-15.22M	-4.05M	13.18M	13.40M	3.04M	-1.47M	-3.62M	-2.03M	14.08M	10.53M
Cost & Expenses	498.44M	15.00M	-190.09M	-228.75M	-232.30M	-120.55M	53.57M	61.41M	27.53M	25.75M	30.87M	12.85M	-31.04M	-20.39M	-15.22M	-4.05M	13.18M	13.40M	3.04M	-1.47M	-3.62M	-2.03M	14.08M	10.53M
Interest Income	1.97B	372.77M	291.66M	290.61M	391.11M	422.80M	389.19M	376.52M	261.82M	185.92M	119.31M	54.68M	34.96M	40.73M	46.58M	45.90M	45.71M	45.51M	35.65M	31.73M	27.72M	21.83M	21.82M	18.70M
Interest Expense	1.22B	58.41M	37.88M	66.01M	142.95M	136.72M	85.00M	59.50M	42.62M	32.86M	23.28M	8.48M	6.04M	10.79M	17.98M	23.02M	28.85M	26.95M	16.70M	11.43M	9.16M	8.11M	11.57M	10.32M
Depreciation & Amortization	91.29M	61.63M	20.55M	17.82M	18.62M	13.89M	16.35M	16.53M	5.84M	10.91M	6.93M	2.41M	650.00K	390.00K	446.00K	447.00K	434.00K	441.00K	508.00K	502.00K	635.00K	675.00K	445.00K	0.00
EBITDA	0.00	664.97M	177.96M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.52M	0.00	0.00	0.00	0.00	0.00	0.00	20.00K	0.00	0.00	0.00	0.00	12.06M
EBITDA Ratio	0.00%	73.66%	30.76%	6.53%	11.59%	64.82%	37.98%	37.74%	37.30%	23.11%	19.36%	20.44%	10.76%	42.93%	51.56%	85.64%	170.69%	166.61%	116.84%	95.57%	84.94%	90.82%	1,421.84%	787.59%
Operating Income	-251.60M	242.64M	82.62M	14.36M	27.98M	187.04M	53.47M	220.59M	156.04M	58.64M	30.62M	14.59M	3.01M	14.65M	15.28M	21.03M	32.43M	34.19M	24.14M	20.39M	16.22M	12.70M	15.18M	12.06M
Operating Income Ratio	-90.38%	73.15%	30.30%	5.91%	10.75%	60.34%	15.33%	36.93%	35.95%	19.49%	15.79%	17.54%	8.85%	41.81%	50.10%	83.86%	168.43%	164.49%	114.43%	93.27%	81.74%	86.23%	1,381.35%	787.59%
Total Other Income/Expenses	-1.96B	-200.76M	0.00	1.79M	4.22M	4.84M	-26.58M	19.75M	9.82M	408.00K	-23.28M	-364.00K	-3.02M	-327.00K	-2.69M	-1.99M	-422.00K	-223.00K	-226.00K	-11.43M	-9.16M	-8.11M	-11.57M	11.04M
Income Before Tax	-2.21B	168.88M	82.62M	14.36M	27.98M	46.99M	26.89M	149.41M	104.27M	25.78M	7.34M	6.11M	-3.02M	3.86M	-2.69M	-1.99M	3.59M	7.25M	7.43M	8.96M	7.06M	4.59M	3.61M	2.04M
Income Before Tax Ratio	-794.35%	50.91%	30.30%	5.91%	10.75%	15.16%	7.71%	25.01%	24.02%	8.57%	3.78%	7.35%	-8.88%	11.02%	-8.83%	-7.94%	18.62%	34.86%	35.24%	41.00%	35.58%	31.18%	328.30%	133.44%
Income Tax Expense	-312.20M	47.95M	20.28M	1.79M	4.22M	4.84M	-26.58M	33.99M	42.19M	-4.54M	7.26M	115.00K	-296.00K	1.04M	-1.70M	-1.46M	624.00K	2.53M	2.63M	3.89M	2.96M	1.96M	1.51M	300.00K
Net Income	-1.90B	120.94M	62.35M	12.57M	23.76M	45.47M	57.71M	115.42M	62.07M	30.32M	79.00K	6.00M	-2.73M	2.83M	-999.00K	-529.00K	2.96M	4.71M	4.81M	5.08M	4.10M	2.64M	2.10M	1.74M
Net Income Ratio	-682.20%	36.46%	22.86%	5.17%	9.13%	14.67%	16.54%	19.32%	14.30%	10.08%	0.04%	7.21%	-8.01%	8.06%	-3.28%	-2.11%	15.38%	22.68%	22.79%	23.22%	20.67%	17.89%	190.72%	113.85%
EPS	-13.30	0.83	0.53	0.11	0.20	0.37	0.47	0.96	0.58	0.35	0.00	0.13	-0.08	0.18	-0.08	-0.04	0.24	0.38	0.39	0.39	0.29	0.17	0.13	0.11
EPS Diluted	-22.71	0.85	0.53	0.11	0.20	0.37	0.47	0.96	0.58	0.35	0.00	0.13	-0.08	0.18	-0.08	-0.04	0.23	0.37	0.38	0.39	0.28	0.17	0.13	0.11
Weighted Avg Shares Out	145.79M	145.79M	117.31M	116.81M	118.97M	123.72M	121.61M	120.24M	106.35M	86.86M	40.82M	34.77M	34.79M	15.32M	12.47M	12.48M	12.51M	12.30M	12.43M	12.90M	14.31M	15.87M	15.87M	15.87M
Weighted Avg Shares Out (Dil)	85.39M	142.98M	117.31M	116.85M	118.97M	123.64M	121.61M	120.24M	106.33M	86.85M	40.82M	34.77M	34.79M	15.32M	12.47M	12.48M	12.69M	12.63M	12.76M	13.13M	14.47M	15.87M	15.87M	15.87M

Banc of California and PacWest Bancorp deal well received by the market

July 26, 2023proactiveinvestors.co.uk

In a significant development in the banking sector, Banc of California (NYSE:BANC) and PacWest Bancorp have announced their intention to merge, forming a new entity with assets totalling $36 billion. The move comes in the wake of a turbulent period...