Banc of California (BANC) Tops Q1 EPS by 5c

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Go back to Banc of California (BANC) Tops Q1 EPS by 5c

Banc of California Reports Record First Quarter Earnings

April 21, 2016 6:00 AM EDT

IRVINE, Calif., April 21, 2016 /PRNewswire/ -- Banc of California, Inc. (NYSE: BANC) today reported record quarterly net income of $19.7 million for the first quarter of 2016, resulting in diluted earnings per share of $0.36 for the quarter.

Pre-tax income for the first quarter of 2016 was $33.0 million, an increase of 49% compared to first quarter of 2015.  Net income available to common shareholders for the first quarter was $15.1 million, an increase of 30% compared to the first quarter of 2015.

Highlights for the first quarter included:

Record quarterly non-interest bearing deposit growth of $278 million, or 25%.... More

Banc of California Announces Expanded Line of Credit

April 20, 2016 5:11 PM EDT

IRVINE, Calif., April 20, 2016 /PRNewswire/ -- Banc of California, Inc. (NYSE: BANC), the holding company for Banc of California, National Association, today announced it has expanded the Company's undrawn, revolving line of credit from $25 million to $75 million.  The line of credit was underwritten by Wells Fargo Bank.

"The expanded capacity on our holding company line of credit recognizes our accelerating financial performance and the continued... More