Welcome to our dedicated page for Banc Of California news (Ticker: BANC), a resource for investors and traders seeking the latest updates and insights on Banc Of California stock.
Banc of California Inc (BANC) delivers full-service banking solutions to businesses and individuals across California. This news hub provides investors and financial professionals with timely updates on corporate developments directly affecting market perception and operational strategy.
Access official press releases, earnings reports, and regulatory filings in one centralized location. Track announcements about lending initiatives, leadership changes, and community-focused programs that reflect the bank’s commitment to California’s economic growth.
Key updates include quarterly financial results, merger/acquisition activity, dividend declarations, and strategic partnerships. All content is sourced from verified corporate communications to ensure reliability for investment research and industry analysis.
Bookmark this page for streamlined monitoring of BANC’s financial performance and operational milestones. Combine historical context with real-time updates to better understand the company’s position in the competitive banking sector.
Banc of California (NYSE: BANC) has announced quarterly dividends for its common and preferred stocks. The Board of Directors declared a $0.10 per share cash dividend on common stock, payable on October 1, 2024, to stockholders of record as of September 16, 2024. Additionally, a $0.4845 per depositary share dividend was declared on the 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F, payable on September 3, 2024, to stockholders of record as of August 22, 2024.
The company also maintains a Dividend Reinvestment Plan (DRIP), allowing common stockholders to acquire shares at a 3% discount from the market price. Registered common stockholders with holdings at Computershare are eligible to participate in the DRIP program.
Banc of California (NYSE: BANC) reported its Q2 2024 financial results with net earnings of $20.4 million or $0.12 per share, consistent with Q1 2024 earnings. Key highlights include a 3% increase in average noninterest-bearing deposits, a net interest margin of 2.80% (up by 14 basis points), and a reduction in the average total cost of deposits to 2.60%. Liquidity and capital ratios improved significantly following the sale of $1.95 billion CIVIC loans. The CET1 ratio increased to 10.27%, and book value per share rose to $17.23.
Key financial metrics include total revenue of $259.3 million and net interest income of $229.5 million. Noninterest income decreased to $29.8 million while noninterest expense dropped to $203.6 million. The provision for credit losses increased to $11.0 million. The company's strong capital position is reflected in a total risk-based capital ratio of 16.57%.
Banc of California (NYSE: BANC) will release its second quarter 2024 financial results on Tuesday, July 23, 2024. The company has scheduled a conference call the same day at 10:00 a.m. PT to discuss the earnings. Interested parties can join the call by dialing (888) 317-6003 with the event code 3283432, or via a live audio webcast available on the company's investor relations website. Additionally, a slide presentation will be accessible on the same website before the call. An audio archive of the conference will be posted within 24 hours after the call ends.
Banc of California (NYSE: BANC) has launched Build@Banc, a new service aimed at providing tailored banking solutions for seed and early-stage startups. The initiative offers guidance and access to a network of investors and advisers, supporting companies from inception to IPO. The bank, known for its tech-forward approach, provides various products including deposit accounts, loans, and payment processing solutions through Deepstack Technologies. Banc of California is based in Los Angeles and is the third-largest bank by assets in California. The Venture Banking Group has supported the innovation economy since 2005, offering venture debt and cash management solutions nationwide.
Banc of California (NYSE: BANC) has announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share on its common stock, payable on July 1, 2024, to shareholders of record as of June 14, 2024.
Additionally, a quarterly dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F, will be paid on June 3, 2024, to shareholders of record as of May 23, 2024. The Series F shares trade under the symbol Banc/PF.
The company also offers a Dividend Reinvestment Plan (DRIP), providing a 3% discount on market price for common shareholders.
Banc of California, a subsidiary of Banc of California, Inc. (NYSE: BANC), appoints Ann DeVries as Senior Vice President, leading investor relations strategy and finance team. DeVries brings extensive experience from Bakkt Holdings Inc. and JPMorgan Chase & Co. to enhance investor outreach and financial planning.
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