Banc of California (BANC) Tops Q3 EPS by 17c

Banc of California (NYSE: BANC) reported Q3 EPS of $0.59, $0.17 better than the analyst estimate of $0.42.

Highlights for the quarter included:

• Record quarterly deposit growth of $1.1 billion, or 15%, and annual deposit growth of $3.7 billion, or 67%.
• Quarterly loan production of $2.6 billion, driven by quarterly commercial banking segment loan and lease originations of $1.1 billion, an increase of 44% from a year ago.
• Held for investment loan growth of $333 million for the third quarter, an increase of $1.8 billion, or 39% from a year ago
• The Company's return on average assets for the quarter was 1.3% and its return on average tangible common equity for the quarter was 19.5%.

For earnings history and earnings-related data on Banc of California (BANC) click here.

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