Banc of California Reports Fourth Quarter 2020 Financial Results
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Banc of California (BANC) Tops Q4 EPS by 17c
January 21, 2021 6:03 AM ESTBanc of California (NYSE: BANC) reported Q4 EPS of $0.35, $0.17 better than the analyst estimate of $0.18.
Highlights for the fourth quarter included:
Return on average assets of 1.11%Net interest margin of 3.38%, a 29 basis points increase from the prior quarterAverage cost of total deposits of 0.36%, a 15 basis points decrease from the prior quarter, and period-end cost of deposits at 0.29%Noninterest-bearing deposit balances increased $108.5 million during the quarter and represented 26% of total deposits at December 31, 2020, up from 20% a year earlierAllowance for credit losses remained strong at 1.43% of total loans and 230% of non-performing... More