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Last $12.49 USD
Change Today -0.04 / -0.32%
Volume 67.1K
BANC On Other Exchanges
Symbol
Exchange
New York
OTC US
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

banc of california inc (BANC) Snapshot

Open
$12.51
Previous Close
$12.53
Day High
$12.59
Day Low
$12.49
52 Week High
04/21/15 - $12.85
52 Week Low
05/15/14 - $9.70
Market Cap
438.3M
Average Volume 10 Days
86.3K
EPS TTM
$0.81
Shares Outstanding
35.1M
EX-Date
03/11/15
P/E TM
15.4x
Dividend
$0.48
Dividend Yield
3.84%
Current Stock Chart for BANC OF CALIFORNIA INC (BANC)

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banc of california inc (BANC) Details

Banc 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. It operates through Banking, Mortgage Banking, Financial Advisory and Asset Management, and Corporate/Other segments. The company’s deposits consist of savings, checking, money market, and interest and non-interest bearing demand accounts, as well as certificates of deposit; and commercial and consumer loan products include commercial and industrial loans, commercial real estate loans, multi-family loans, SBA guaranteed business loans, construction and renovation loans, lease financing, single family residential mortgage loans, warehouse loans, asset or security backed loans, home equity lines of credit, consumer and business lines of credit, home equity loans, and other consumer loans. It also provides private banking products and services for high net worth individuals and entrepreneurs; and other banking services to financial institutions, as well as invests in mortgage-backed securities. In addition, the company offers mobile, online, cash and treasury management, card payment services, remote deposit, ACH origination, employer/employee retirement planning, telephone banking, automated bill payment, electronic statements, safe deposit boxes, direct deposit, and wire transfers services. Further, it provides financial advisory and asset management services to third parties; and manages and disposes other real estate owned properties. As of December 31, 2014, the company operated 37 branches in San Diego, Orange, and Los Angeles Counties in California; and 67 loan production offices in California, Arizona, Oregon, Virginia, Indiana, Maryland, Colorado, Idaho, and Nevada. Banc of California, Inc. was formerly known as First PacTrust Bancorp, Inc. and changed its name to Banc of California, Inc. in July 2013. The company was founded in 1941 and is headquartered in Irvine, California.

1,438 Employees
Last Reported Date: 03/16/15
Founded in 1941

banc of california inc (BANC) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $900.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $687.5K
Chief Banking Officer, Executive Vice Preside...
Total Annual Compensation: $1.1M
Executive Vice President, General Counsel and...
Total Annual Compensation: $700.0K
Chief Credit Officer, Chief Risk Officer, Exe...
Total Annual Compensation: $550.0K
Compensation as of Fiscal Year 2014.

banc of california inc (BANC) Key Developments

Banc of California, Inc. Presents at Western Private Equity Conference 2015, Apr-24-2015 11:30 AM

Banc of California, Inc. Presents at Western Private Equity Conference 2015, Apr-24-2015 11:30 AM. Venue: Fairmont Miramar Hotel & Bungalows, Santa Monica, California, United States. Speakers: Steven A. Sugarman, Chairman, Chief Executive Officer, President, Chairman of Joint Strategic & Executive Committee, Member of Joint Community Reinvestment Act Committee, Member of Joint Enterprise Risk Management Committee, Chief Executive Officer of Banc of California, National Association, President of Banc of California, National Association and Chairman of Banc of California, National Association.

Banc of California, Inc. Enters into Credit Agreement

On March 30, 2015, Banc of California, Inc. entered into a Credit Agreement by and between the company, as Borrower and Wells Fargo, National Association (Wells Fargo), pursuant to which Wells Fargo agreed to make advances to the company from time to time to and including March 28, 2016, in an amount not to exceed $20 million, the proceeds of which are to be used for working capital purposes. Interest will accrue on loans under the Credit Agreement at a floating rate equal to a LIBOR rate plus 2.25% or a prime rate, in the discretion of the company. The company will pay a commitment fee on unused commitments under the Credit Agreement at a rate of 0.1875% per annum.

Banc of California, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Banc of California, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest and dividend income of $55,080,000 compared to $40,756,000 a year ago. Net interest income was $46,331,000 compared to $38,186,000 a year ago. Income before income taxes was $4,690,000 compared to $8,837,000 a year ago. Net income available to common shareholders was $9,304,000 or $0.25 per basic and diluted share compared to $2,370,000 or $0.12 per diluted share a year ago. Return on average assets was 0.78% compared to 0.37% a year ago. Return on average equity was 8.31% compared to 4.06% a year ago. For the year, the company reported total interest and dividend income of $188,139,000 compared to $120,511,000 a year ago. Net interest income was $155,277,000 compared to $97,229,000 a year ago. Income before income taxes was $25,777,000 compared to $7,339,000 a year ago. Net income available to common shareholders was $26,678,000 or $0.91 per basic and diluted share compared to net loss available to common shareholders of $2,106,000 or $0.14 per basic and diluted share a year ago. Return on average assets was 0.70% compared to 0.00% a year ago. Return on average equity was 7.33% compared to 0.03% a year ago. Tangible common equity per share as at December 31, 2014 was $10.54 compared to $10.06 a year ago. Book value per common stock as at December 31, 2014 was $12.18 compared to $12.16 a year ago.

 

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Industry Analysis

BANC

Industry Average

Valuation BANC Industry Range
Price/Earnings 13.8x
Price/Sales 1.6x
Price/Book 1.0x
Price/Cash Flow 14.5x
TEV/Sales NM Not Meaningful
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