Revenue growth has been steady with NII up 4.3% year-over-year to $250.5M, but profitability is strained as the efficiency ratio deteriorated to 102.3% in Q2 2026 due to a $161.8M provision, resulting in a net loss of $240.2M.
Banc of California, Inc. (BANC) annual income statement — 25-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 |
|---|
| Net Interest Income | 1.03B | 977.39M | 926.05M | 747.13M | 1.29B | 1.1B | 224.59M | 248.16M | 286.08M | 304.19M | 310.35M | 211.19M | 155.28M | 96.02M | 46.2M | 28.92M | 29.94M | 28.6M | 22.35M | 16.86M | 18.57M | 18.95M | 20.31M | 18.56M | 13.72M | 10.25M |
| NII Growth % | 26.9% | 5.54% | 23.95% | -42.12% | 16.94% | 391.48% | -9.5% | -13.25% | -5.95% | -1.98% | 46.95% | 36.01% | 61.71% | 107.85% | 59.73% | -3.4% | 4.68% | 27.95% | 32.55% | -9.18% | -2% | -6.69% | 9.4% | 35.25% | 33.91% | - |
| Net Interest Margin % | 2.93% | 2.81% | 2.76% | 1.94% | 3.13% | 11.71% | 2.85% | 3.17% | 2.69% | 2.95% | 2.81% | 2.56% | 2.6% | 2.65% | 2.74% | 2.9% | 3.47% | 3.2% | 2.55% | 2.18% | 2.3% | 2.51% | 3.01% | 2.97% | 2.98% | 3.31% |
| Interest Income | 1.68B | 1.68B | 1.81B | 1.97B | 1.56B | 1.16B | 290.61M | 391.11M | 422.8M | 389.19M | 369.84M | 253.81M | 188.14M | 119.31M | 54.68M | 34.96M | 40.73M | 46.58M | 45.38M | 45.71M | 45.51M | 35.65M | 31.73M | 27.72M | 21.83M | 21.82M |
| Interest Expense | 655.8M | 699.27M | 886.65M | 1.22B | 265.73M | 54.91M | 66.01M | 142.95M | 136.72M | 85M | 59.5M | 42.62M | 32.86M | 23.28M | 8.48M | 6.04M | 10.79M | 17.98M | 23.02M | 28.85M | 26.95M | 16.7M | 11.43M | 9.16M | 8.11M | 11.57M |
| Loan Loss Provision | 181.99M | 48.43M | 42.8M | 52M | 24.5M | -162M | 29.02M | 35.17M | 28.63M | 11.89M | 1.92M | 9.79M | 13.78M | 10.35M | 5.76M | 5.39M | 8.96M | 17.3M | 13.55M | 1.59M | -24K | 250K | 238K | 1.27M | 1.11M | 68K |
| Non-Interest Income | 108.25M | 133.89M | 59.84M | -468.74M | 50.26M | 176.9M | 18.87M | 12.12M | 26.18M | 38.83M | 85.32M | 61.38M | 138.81M | 85.31M | 24.13M | -1.75M | 966K | 1.9M | 2.72M | 2.39M | 2.22M | 2.14M | 1.55M | 1.28M | 1.05M | -9.15M |
| Non-Interest Income % | 9.54% | 12.05% | 6.07% | -168.38% | 3.75% | 13.81% | 7.75% | 4.66% | 8.38% | 11.32% | 21.56% | 22.52% | 47.2% | 47.05% | 34.31% | -6.46% | 3.13% | 6.23% | 10.86% | 12.42% | 10.67% | 10.16% | 7.09% | 6.46% | 7.1% | -832.58% |
| Total Net Revenue | 1.13B | 1.11B | 985.89M | 278.38M | 1.34B | 1.28B | 243.46M | 260.28M | 312.25M | 343.02M | 395.66M | 272.57M | 294.09M | 181.33M | 70.33M | 27.17M | 30.91M | 30.5M | 25.08M | 19.25M | 20.79M | 21.09M | 21.86M | 19.84M | 14.77M | 1.1M |
| Revenue Growth % | 5.2% | 12.72% | 254.15% | -79.24% | 4.71% | 426.04% | -6.46% | -16.64% | -8.97% | -13.3% | 45.16% | -7.32% | 62.18% | 157.85% | 158.85% | -12.09% | 1.32% | 21.64% | 30.24% | -7.37% | -1.45% | -3.5% | 10.15% | 34.32% | 1244.22% | - |
| Non-Interest Expense | 971.36M | 737.27M | 774.43M | 2.44B | 748.95M | 620.39M | 200.08M | 197.13M | 236.63M | 304.24M | 293.25M | 193.61M | 253.84M | 163.08M | 58.46M | 24.8M | 18.09M | 15.9M | 13.52M | 14.08M | 13.56M | 13.41M | 12.66M | 11.51M | 9.07M | -2.58M |
| Efficiency Ratio | 85.64% | 66.34% | 78.55% | 875.67% | 55.85% | 48.44% | 82.18% | 75.74% | 75.78% | 88.69% | 74.12% | 71.03% | 86.31% | 89.93% | 83.13% | 91.3% | 58.53% | 52.13% | 53.92% | 73.13% | 65.26% | 63.58% | 57.91% | 58.01% | 61.4% | -234.49% |
| Operating Income | -19.17M | 325.57M | 168.65M | -2.21B | 567.57M | 822.33M | 14.36M | 27.98M | 46.99M | 26.89M | 100.49M | 69.17M | 26.47M | 7.91M | 6.11M | -3.02M | 3.86M | -2.69M | -1.99M | 3.58M | 7.25M | 7.43M | 8.96M | 7.06M | 4.59M | 3.61M |
| Operating Margin % | -1.69% | 29.3% | 17.11% | -794.35% | 42.32% | 64.21% | 5.9% | 10.75% | 15.05% | 7.84% | 25.4% | 25.38% | 9% | 4.36% | 8.69% | -11.13% | 12.49% | -8.83% | -7.94% | 18.62% | 34.86% | 35.24% | 41% | 35.58% | 31.09% | 328.3% |
| Operating Income Growth % | - | 93.04% | 107.63% | -489.62% | -30.98% | 5626.56% | -48.67% | -40.46% | 74.73% | -73.24% | 45.29% | 161.34% | 234.67% | 29.41% | 302.08% | -178.32% | 243.32% | -35.24% | -155.56% | -50.52% | -2.52% | -17.06% | 26.91% | 53.73% | 27.3% | - |
| Pretax Income | -31.67M | 313.07M | 168.65M | -2.21B | 567.57M | 822.33M | 14.36M | 27.98M | 46.99M | 26.89M | 100.49M | 69.17M | 26.47M | 7.91M | 6.11M | -3.02M | 3.86M | -2.69M | -1.99M | 3.58M | 7.25M | 7.43M | 8.96M | 7.06M | 4.59M | 3.61M |
| Pretax Margin % | -2.79% | 28.17% | 17.11% | -794.35% | 42.32% | 64.21% | 5.9% | 10.75% | 15.05% | 7.84% | 25.4% | 25.38% | 9% | 4.36% | 8.69% | -11.13% | 12.49% | -8.83% | -7.94% | 18.62% | 34.86% | 35.24% | 41% | 35.58% | 31.09% | 328.3% |
| Income Tax | -23.82M | 84.1M | 41.77M | -312.2M | 143.96M | 215.38M | 1.79M | 4.22M | 4.84M | -26.58M | 13.75M | 28.05M | -3.74M | 7.99M | 115K | -296K | 1.04M | -1.7M | -1.46M | 624K | 2.53M | 2.63M | 3.89M | 2.96M | 1.96M | 1.51M |
| Effective Tax Rate % | 75.22% | 26.86% | 24.76% | 14.12% | 25.36% | 26.19% | 12.44% | 15.08% | 10.31% | -98.84% | 13.68% | 40.55% | -14.13% | 101.06% | 1.88% | 9.79% | 26.83% | 62.92% | 73.44% | 17.41% | 34.93% | 35.32% | 43.37% | 41.92% | 42.61% | 41.91% |
| Net Income | -7.85M | 228.97M | 126.89M | -1.9B | 423.61M | 606.96M | 12.57M | 23.76M | 45.47M | 57.71M | 115.42M | 62.07M | 30.32M | -84K | 6M | -2.73M | 2.83M | -999K | -529K | 2.96M | 4.71M | 4.81M | 5.08M | 4.1M | 2.64M | 2.1M |
| Net Margin % | -0.69% | 20.6% | 12.87% | -682.2% | 31.59% | 47.39% | 5.16% | 9.13% | 14.56% | 16.82% | 29.17% | 22.77% | 10.31% | -0.05% | 8.52% | -10.04% | 9.14% | -3.28% | -2.11% | 15.38% | 22.68% | 22.79% | 23.22% | 20.67% | 17.84% | 190.72% |
| Net Income Growth % | -103.76% | 80.45% | 106.68% | -548.32% | -30.21% | 4727.1% | -47.08% | -47.75% | -21.2% | -50% | 85.94% | 104.74% | 36192.86% | -101.4% | 319.76% | -196.57% | 382.78% | -88.85% | -117.87% | -37.19% | -1.93% | -5.28% | 23.75% | 55.58% | 25.76% | - |
| Net Income (Continuing) | -7.85M | 228.97M | 126.89M | -1.9B | 423.61M | 606.96M | 12.57M | 23.76M | 42.15M | 53.47M | 86.74M | 41.12M | 30.2M | -84K | 6M | -2.73M | 2.83M | -999K | -529K | 2.96M | 4.71M | 4.81M | 5.08M | 4.1M | 2.64M | 2.1M |
| EPS (Diluted) | -0.05 | 1.18 | 0.52 | -22.71 | 0.85 | 0.95 | -0.02 | 0.05 | 0.37 | 0.47 | 1.94 | 1.34 | 0.91 | -0.14 | 0.40 | -0.08 | 0.18 | -0.08 | -0.04 | 0.23 | 0.37 | 0.38 | 0.39 | 0.28 | 0.23 | 0.13 |
| EPS Growth % | -126.92% | 126.92% | 102.29% | -2771.76% | -10.53% | 4850% | -140% | -86.49% | -21.28% | -75.77% | 44.78% | 47.25% | 750% | -135% | 610.2% | -143.56% | 324.72% | -88.92% | -118.43% | -37.84% | -2.63% | -2.56% | 39.29% | 21.74% | 76.92% | - |
| EPS (Basic) | - | 1.18 | 0.52 | -22.71 | 0.85 | 0.95 | -0.02 | 0.05 | 0.37 | 0.47 | 1.97 | 1.36 | 0.91 | -0.14 | 0.40 | -0.08 | 0.18 | -0.08 | -0.04 | 0.24 | 0.38 | 0.39 | 0.39 | 0.29 | 0.23 | 0.13 |
| Diluted Shares Outstanding | 160.31M | 160.09M | 168.68M | 142.98M | 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 |
Quick answers to the most common questions about buying BANC stock.
For fiscal year 2025, Banc of California, Inc. (BANC) reported total revenue of $1.11B. This represents a 101016.7% increase compared to $1.1M in 2001.
Banc of California, Inc. (BANC) is profitable, generating $229.0M in net income for the fiscal year ending 2025 with a net profit margin of 20.6%.
Banc of California, Inc. (BANC) reported an operating income of $325.6M, resulting in an operating profit margin of 29.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Banc of California, Inc. (BANC) generated $1.06B in gross profit for the year, representing a gross profit margin of 95.6%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
California CRE concentration risk
Metrics are mathematically derived from official filings.
NII Growth Steady Despite Repositioning
Net interest income rose 4.3% year-over-year to $250.5M in Q2 2026, per company filings, but the strategic repositioning may pressure future growth.
NII has grown sequentially from $229.1M in Q1 2024 to $250.5M in Q2 2026, a 9.3% increase, driven by loan repricing and balance sheet growth. However, the recent securities repositioning and loan sale in Q2 2026 likely reduced earning assets, which may temper NII growth in coming quarters. The stable NIM of 0.7% suggests that the bank is not benefiting from rate tailwinds, and deposit costs may be rising.
NIM Stuck at 0.7%
Net interest margin remained flat at 0.7% for the last ten quarters, as reported in financial statements, indicating limited spread expansion despite rate environment.
The NIM has been remarkably stable at 0.7% across all periods, suggesting that asset yields and funding costs are moving in tandem, or that the bank is not experiencing significant repricing benefits. This stability may reflect a high proportion of floating-rate loans and deposits, or the impact of purchase accounting adjustments. Compared to peers like WAL (61.1% gross margin) and EWBC (60.1%), BANC's NIM appears low, but the gross margin metric is not directly comparable; the bank's efficiency ratio of 102.3% in Q2 2026 indicates significant margin pressure from one-time charges.
Efficiency Ratio Spikes on Charges
Efficiency ratio deteriorated to 102.3% in Q2 2026 from 41.0% in Q1, per company data, reflecting the impact of strategic repositioning costs.
Excluding the one-time charges, the efficiency ratio has been relatively stable around 40%, indicating a well-controlled cost base. The Q2 2026 spike to 102.3% is due to the $161.8M provision and other repositioning costs, which overwhelmed revenue. This suggests that the bank's core operating leverage is intact, but the strategic pivot has temporarily impaired earnings. Investors should monitor whether the anticipated efficiency gains from the repositioning materialize in the coming quarters.
Provision Volatility Reflects CRE Risk
Provision expense surged to $161.8M in Q2 2026 from $9.8M in Q1, as per financial statements, highlighting elevated credit costs amid California CRE uncertainty.
The provision for loan losses has been minimal in most quarters, but the Q2 2026 charge is substantial, likely driven by the loan sale and updated economic forecasts. This suggests that the bank is proactively addressing credit risk in its portfolio, particularly in Southern California CRE. The low provision levels in prior quarters may indicate that credit quality was stable, but the recent charge raises concerns about the adequacy of the allowance. The bank's net charge-offs are not disclosed, but the provision spike warrants close monitoring.
Fee Income Volatile but Recovering
Non-interest income swung from -$19.4M in Q3 2024 to $35.3M in Q1 2026, per company data, indicating recovery in fee-based revenue streams.
Fee income has been inconsistent, with a negative quarter in Q3 2024 and a high of $41.6M in Q4 2025. The fee percentage of total revenue has ranged from -4.5% to 9.1%, suggesting reliance on transaction-based fees that are sensitive to market conditions. The recent quarters show improvement, but the bank's fee income is not a stable contributor to earnings. The warehouse lending and SBA segments likely drive these fees, and their performance is tied to mortgage origination volumes, which remain subdued in a high-rate environment.
Q2 2026 Repositioning Marks Turning Point
Q2 2026 saw a strategic repositioning with a $161.8M provision and a net loss of $240.2M, as reported, signaling a deliberate shift toward long-term efficiency.
The bank's decision to reposition its balance sheet, including a securities sale and loan sale, resulted in a significant one-time loss, but management maintained guidance for future performance. This inflection point suggests that the bank is prioritizing long-term profitability over near-term earnings, potentially improving NIM and efficiency in the future. However, the success of this strategy depends on the bank's ability to redeploy assets into higher-yielding loans and reduce funding costs. The revenue run-rate of $16.4M in the quarter indicates that the earnings power is currently under pressure, but the repositioning may set the stage for a stronger financial profile.
What Could Invalidate the Base Case
The Q2 2026 repositioning may not deliver expected benefits if California CRE deteriorates further, as per reported data, potentially leading to additional provisions.
The bank's strategic pivot assumes that the realized losses will be offset by improved efficiency and higher future earnings. However, if the Southern California CRE market continues to weaken, the bank may face additional credit costs that could erode the benefits of the repositioning. The provision spike in Q2 2026 suggests that the bank is already seeing stress in its portfolio, and further deterioration could require larger reserves. Additionally, the stable NIM of 0.7% indicates limited pricing power, and if deposit costs rise faster than loan yields, margins could compress further. Investors should monitor the bank's ability to maintain its deposit base and manage credit quality in a challenging environment.