Banc of California, Inc. (BANC) 10-Year Financial Performance & Capital Metrics

BANC • • Banking & Credit

Financial ServicesRegional BanksCommercial & Business BankingCommercial & Corporate Banking

AboutBanc 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.Show more

Net Interest Income $926M +23.9%
Total Revenue $1.87B +24.6%
Net Income $127M +106.7%
Return on Equity 3.68% +107.1%
Net Interest Margin 2.76% +42.4%
Efficiency Ratio 41.36% -74.5%
ROA 0.35% +107.4%
Equity / Assets 10.43% +18.6%
Book Value per Share 20.75 -12.5%
Tangible BV/Share 18.69 -11.7%
Debt/Equity 0.67 -41.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 39.8%
✓Efficient operations: 41.4% efficiency ratio
✓Well capitalized: 10.4% equity/assets
✓Trading near 52-week high
✓Trading at only 1.0x book value

✗Weaknesses

✗Shares diluted 18.0% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y19.07%

5Y35.95%

3Y11.92%

TTM-

Profit (Net Income) CAGR

10Y15.39%

5Y39.8%

3Y-40.65%

TTM110.92%

EPS CAGR

10Y-5.44%

5Y59.74%

3Y-18.2%

TTM124.09%

ROCE

10Y Avg4.13%

5Y Avg5.47%

3Y Avg-6.48%

Latest2.84%

Peer Comparison

Commercial & Corporate Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TCBITexas Capital Bancshares, Inc.	4.49B	98.37	76.85	-1.72%	4.4%	7.92%	9.27%	0.46
BANCBanc of California, Inc.	3.15B	20.87	40.13	24.65%	6.78%	6.01%	2.04%	0.67
DBDeutsche Bank AG	74.26B	38.87	28.37	11.78%	5.07%	7.18%		1.91
HTHHilltop Holdings Inc.	2.2B	35.83	20.59	2.5%	7.35%	7.2%	12.14%	0.61
SFBSServisFirst Bancshares, Inc.	4.28B	78.31	18.82	17.89%	23.26%	14.33%	5.8%	1.27
CMAComerica Incorporated	11.69B	91.51	18.23	-4.95%	13.98%	10.57%	3.83%	1.02
BOKFBOK Financial Corporation	8.08B	127.69	15.69	10.4%	15.57%	8.91%	15.59%	0.80
CNOBConnectOne Bancorp, Inc.	1.37B	27.26	15.49	6.06%	13.8%	3.98%	4.15%	0.63

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	211.19M	310.35M	304.19M	286.08M	248.16M	224.59M	1.1B	1.29B	747.13M	926.05M
NII Growth %	0.36%	0.47%	-0.02%	-0.06%	-0.13%	-0.09%	3.91%	0.17%	-0.42%	0.24%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	253.81M	369.84M	389.19M	422.8M	391.11M	290.61M	1.16B	1.56B	1.97B	1.81B
Interest Expense	42.62M	59.5M	85M	136.72M	142.95M	66.01M	54.91M	265.73M	1.22B	886.65M
Loan Loss Provision	9.79M	1.92M	11.89M	28.63M	35.17M	29.02M	-162M	24.5M	52M	42.8M
Non-Interest Income+	61.38M	85.32M	38.83M	26.18M	12.12M	18.87M	176.9M	50.26M	-468.74M	59.84M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	315.19M	455.16M	428.02M	448.97M	403.23M	309.48M	1.34B	1.61B	1.5B	1.87B
Revenue Growth %	-0.04%	0.44%	-0.06%	0.05%	-0.1%	-0.23%	3.32%	0.2%	-0.07%	0.25%
Non-Interest Expense	193.61M	293.25M	304.24M	236.63M	197.13M	200.08M	620.39M	748.95M	2.44B	774.43M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	69.17M	100.49M	26.89M	46.99M	27.98M	14.36M	822.33M	567.57M	-2.21B	168.65M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	1.61%	0.45%	-0.73%	0.75%	-0.4%	-0.49%	56.27%	-0.31%	-4.9%	1.08%
Pretax Income+	69.17M	100.49M	26.89M	46.99M	27.98M	14.36M	822.33M	567.57M	-2.21B	168.65M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	28.05M	13.75M	-26.58M	4.84M	4.22M	1.79M	215.38M	143.96M	-312.2M	41.77M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	62.07M	115.42M	57.71M	45.47M	23.76M	12.57M	606.96M	423.61M	-1.9B	126.89M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.05%	0.86%	-0.5%	-0.21%	-0.48%	-0.47%	47.27%	-0.3%	-5.48%	1.07%
Net Income (Continuing)	41.12M	86.74M	53.47M	42.15M	23.76M	12.57M	606.96M	423.61M	-1.9B	126.89M
EPS (Diluted)+	1.34	1.94	0.47	0.37	0.05	-0.02	0.95	0.85	-22.71	0.52
EPS Growth %	0.47%	0.45%	-0.76%	-0.21%	-0.86%	-1.4%	48.5%	-0.11%	-27.72%	1.02%
EPS (Basic)	1.36	1.97	0.47	0.37	0.05	-0.02	0.95	0.83	-13.30	0.52
Diluted Shares Outstanding	106.33M	120.24M	121.61M	123.64M	118.97M	116.85M	117.31M	142.98M	142.98M	168.68M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	157.62M	440.51M	387.7M	391.59M	373.47M	220.82M	228.12M	2.24B	5.38B	2.5B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	7.61B	10.07B	9.34B	9.69B	6.86B	7.08B	8.5B	36.04B	30.6B	28.69B
Investments Growth %	0.39%	0.32%	-0.07%	0.04%	-0.29%	0.03%	0.2%	3.24%	-0.15%	-0.06%
Long-Term Investments	6.78B	7.68B	6.76B	7.7B	5.95B	5.85B	7.18B	31.2B	28.25B	26.44B
Accounts Receivables	0	0	0	0	0	0	0	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	39.24M	37.14M	37.14M	37.14M	37.14M	37.14M	94.3M	1.38B	198.63M	214.52M
Intangible Assets	69.89M	53.55M	43.06M	6.35M	4.15M	2.63M	6.41M	31.38M	165.48M	132.94M
PP&E (Net)	111.54M	140.92M	135.7M	129.39M	150.56M	141.15M	112.87M	584.82M	624.25M	549.83M
Other Assets	231.82M	265.55M	344.1M	325.72M	355.19M	350.33M	392.83M	395.94M	615.83M	548.25M
Total Current Assets	991.82M	2.84B	2.97B	2.39B	1.29B	1.45B	1.55B	7.36B	7.94B	4.93B
Total Non-Current Assets	7.24B	8.19B	7.36B	8.24B	6.54B	6.42B	7.84B	33.87B	30.59B	28.61B
Total Assets+	8.24B	11.03B	10.33B	10.63B	7.83B	7.88B	9.43B	41.23B	38.53B	33.54B
Asset Growth %	0.38%	0.34%	-0.06%	0.03%	-0.26%	0.01%	0.2%	3.37%	-0.07%	-0.13%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0%	0%	0%	0.07%	0.02%	-0.05%	0%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	1.19B	733.3M	1.87B	1.69B	1.39B	816.76M	816.12M	2.63B	3.85B	2.33B
Net Debt	1.03B	292.79M	1.48B	1.3B	1.02B	595.94M	588M	390.89M	-1.53B	-168.47M
Long-Term Debt	1.19B	733.3M	1.87B	1.69B	1.37B	796.11M	750.45M	2.63B	1.23B	2.33B
Short-Term Debt	0	0	0	0	0	0	25M	0	2.62B	0
Other Liabilities	10.94M	92.69M	14.13M	0	0	5.51M	-40.67M	596.73M	893.61M	517.27M
Total Current Liabilities	6.38B	9.22B	7.43B	7.99B	5.52B	6.16B	7.58B	34.05B	33.02B	27.19B
Total Non-Current Liabilities	1.2B	826M	1.88B	1.7B	1.39B	822.27M	750.45M	3.23B	2.12B	2.85B
Total Liabilities	7.58B	10.05B	9.32B	9.68B	6.92B	6.98B	8.36B	37.28B	35.14B	30.04B
Total Equity+	652.4M	980.24M	1.01B	945.53M	907.25M	897.21M	1.07B	3.95B	3.39B	3.5B
Equity Growth %	0.3%	0.5%	0.03%	-0.07%	-0.04%	-0.01%	0.19%	2.71%	-0.14%	0.03%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.11%	0.14%	0.06%	0.05%	0.03%	0.01%	0.62%	0.17%	-0.52%	0.04%
Book Value per Share	6.14	8.15	8.32	7.65	7.63	7.68	9.08	27.63	23.72	20.75
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	396K	539K	522K	523K	525K	527K	651K	1.23M	1.69M	1.69M
Additional Paid-in Capital	429.79M	614.23M	621.43M	625.83M	629.85M	634.7M	854.87M	2.82B	3.84B	3.79B
Retained Earnings	63.53M	134.51M	144.84M	140.95M	127.73M	110.18M	147.89M	1.42B	-518.3M	-431.2M
Accumulated OCI	-3M	-9.04M	5.23M	-24.12M	-11.9M	7.75M	7.74M	-790.9M	-432.11M	-354.78M
Treasury Stock	-29.07M	-29.07M	-28.79M	-28.79M	-28.79M	-40.83M	-40.83M	-115.91M	0	0
Preferred Stock	190.75M	269.07M	269.07M	231.13M	189.82M	184.88M	94.96M	498.52M	498.52M	498.52M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-42.99M	18.11M	563.01M	123M	80.25M	74.86M	502.96M	701.97M	135.77M	77.37M
Operating CF Growth %	0.93%	1.42%	30.08%	-0.78%	-0.35%	-0.07%	5.72%	0.4%	-0.81%	-0.43%
Net Income	62.07M	115.42M	57.71M	45.47M	23.76M	12.57M	606.96M	423.61M	-1.9B	126.89M
Depreciation & Amortization	14.99M	16.53M	16.35M	13.88M	18.62M	17.82M	95.33M	97.4M	91.29M	121.4M
Deferred Taxes	7.28M	5.61M	-30.37M	-5.91M	-622K	-9.26M	5.84M	19.08M	0	0
Other Non-Cash Items	-127.46M	-116.1M	571.38M	43.39M	52.6M	56.78M	-128.94M	132.55M	2.08B	21.4M
Working Capital Changes	-9.2M	-15.29M	-64.2M	19.6M	-19.14M	-8.83M	-108.47M	-5.43M	-169.57M	-207.76M
Cash from Investing+	-2.26B	-2.32B	151.86M	-469.75M	2.8B	-266.92M	-5.71B	-3.57B	12.61B	1.89B
Purchase of Investments	-2.55B	-5.75B	-998.22M	-527.94M	-210.06M	-398.92M	-6.86B	-380.25M	-13.44M	-835.95M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-46.73M	247.22M	56.12M	0	0	0	3.76B	0	335.32M	0
Other Investing	-672.12M	-1.1B	-578.63M	-1.01B	1.73B	56.14M	-3.77B	-5.74B	9.01B	1.8B
Cash from Financing+	2.22B	2.58B	-766.68M	350.64M	-2.89B	39.4M	6.11B	1.05B	-9.61B	-4.84B
Dividends Paid	-26.4M	-41.47M	-46.16M	-54.68M	-31.3M	-25.72M	-119.44M	-139.59M	-88.67M	-108.09M
Share Repurchases	0	0	0	0	-1.02M	-12.96M	0	0	0	0
Stock Issued	0	175.08M	0	0	0	0	0	0	382.97M	308K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K
Other Financing	1.68B	2.83B	-1.85B	620.57M	-2.49B	648.89M	5.89B	-1.07B	-10.09B	-3.21B
Net Change in Cash+	-75.08M	283.39M	-51.81M	3.89M	-18.12M	-152.65M	896.57M	-1.82B	3.14B	-2.88B
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	231.2M	156.12M	439.51M	387.7M	391.59M	373.47M	3.16B	4.06B	2.24B	5.38B
Cash at End	156.12M	439.51M	387.7M	391.59M	373.47M	220.82M	4.06B	2.24B	5.38B	2.5B
Interest Paid	44.81M	59.38M	81.81M	130.79M	151.51M	66.01M	53.45M	238.38M	1.06B	1.01B
Income Taxes Paid	33.43M	42.38M	11.32M	8.32M	2.92M	762K	136.01M	97.25M	0	0
Free Cash Flow+	-126.25M	-26.57M	547.69M	114M	69.78M	69.77M	454.91M	581.11M	120.55M	64.33M
FCF Growth %	0.8%	0.79%	21.61%	-0.79%	-0.39%	-0%	5.52%	0.28%	-0.79%	-0.47%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.74%	14.14%	5.79%	4.65%	2.56%	1.39%	61.86%	16.89%	-51.74%	3.68%
Return on Assets (ROA)	0.87%	1.2%	0.54%	0.43%	0.26%	0.16%	7.02%	1.67%	-4.76%	0.35%
Net Interest Margin	2.56%	2.81%	2.95%	2.69%	3.17%	2.85%	11.71%	3.13%	1.94%	2.76%
Efficiency Ratio	61.43%	64.43%	71.08%	52.7%	48.89%	64.65%	46.45%	46.61%	162.27%	41.36%
Equity / Assets	7.92%	8.89%	9.8%	8.89%	11.59%	11.39%	11.3%	9.58%	8.8%	10.43%
Book Value / Share	6.14	8.15	8.32	7.65	7.63	7.68	9.08	27.63	23.72	20.75
NII Growth	36.01%	46.95%	-1.98%	-5.95%	-13.25%	-9.5%	391.48%	16.94%	-42.12%	23.95%
Dividend Payout	27.32%	18.93%	44.55%	71.97%	66.27%	94.22%	19.68%	28.39%	-	53.83%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Noninterest Income	-	-	-	-	-	33.77M	37.22M
Noninterest Income Growth	-	-	-	-	-	-	10.24%
Service Charges On Deposit Accounts	-	-	-	-	-	16.47M	18.58M
Service Charges On Deposit Accounts Growth	-	-	-	-	-	-	12.84%
Other Commissions And Fees	-	-	-	-	-	16.6M	18.05M
Other Commissions And Fees Growth	-	-	-	-	-	-	8.77%
Other	-	-	-	-	-	702K	589K
Other Growth	-	-	-	-	-	-	-16.10%
Products And Services, Deposit Service Fees	3M	2.41M	2.26M	3.73M	6.03M	-	-
Products And Services, Deposit Service Fees Growth	-	-19.53%	-6.21%	64.66%	61.83%	-	-
Products And Services, Debit Card Fees	659K	533K	1.32M	1.76M	1.91M	-	-
Products And Services, Debit Card Fees Growth	-	-19.12%	148.59%	32.83%	8.52%	-	-
Products And Services, Other	320K	340K	220K	476K	1.11M	-	-
Products And Services, Other Growth	-	6.25%	-35.29%	116.36%	134.24%	-	-
Products And Services, Investment Commissions	1.63M	685K	-	-	-	-	-
Products And Services, Investment Commissions Growth	-	-57.85%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Banc of California, Inc. (BANC) has a price-to-earnings (P/E) ratio of 40.1x. This suggests investors expect higher future growth.

Growth & Financials

Banc of California, Inc. (BANC) grew revenue by 24.6% over the past year. This is strong growth.

Yes, Banc of California, Inc. (BANC) is profitable, generating $208.5M in net income for fiscal year 2024 (6.8% net margin).

Dividend & Returns

Yes, Banc of California, Inc. (BANC) pays a dividend with a yield of 1.94%. This makes it attractive for income-focused investors.

Banc of California, Inc. (BANC) has a return on equity (ROE) of 3.7%. This is below average, suggesting room for improvement.

Industry Metrics

Banc of California, Inc. (BANC) has a net interest margin (NIM) of 2.8%. NIM has been under pressure due to interest rate environment.

Banc of California, Inc. (BANC) has an efficiency ratio of 41.4%. This is excellent, indicating strong cost control.

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