Annual Income Statements for Banc of California
This table shows Banc of California's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Banc of California
This table shows Banc of California's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
24 |
310 |
-1,205 |
-207 |
-33 |
-493 |
21 |
20 |
-1.16 |
47 |
Consolidated Net Income / (Loss) |
|
24 |
324 |
-1,195 |
-197 |
-23 |
-483 |
31 |
30 |
8.78 |
57 |
Net Income / (Loss) Continuing Operations |
|
24 |
324 |
-1,195 |
-197 |
-23 |
-483 |
31 |
30 |
8.78 |
57 |
Total Pre-Tax Income |
|
34 |
429 |
-1,260 |
-264 |
-27 |
-660 |
42 |
45 |
12 |
70 |
Total Revenue |
|
85 |
1,113 |
316 |
58 |
175 |
-249 |
263 |
259 |
217 |
264 |
Net Interest Income / (Expense) |
|
79 |
1,057 |
279 |
186 |
131 |
151 |
229 |
229 |
232 |
235 |
Total Interest Income |
|
96 |
1,288 |
518 |
540 |
446 |
467 |
479 |
463 |
447 |
425 |
Loans and Leases Interest Income |
|
84 |
1,074 |
431 |
409 |
310 |
346 |
385 |
389 |
370 |
357 |
Investment Securities Interest Income |
|
10 |
184 |
44 |
44 |
45 |
41 |
34 |
34 |
35 |
38 |
Deposits and Money Market Investments Interest Income |
|
- |
- |
43 |
87 |
90 |
80 |
59 |
40 |
42 |
29 |
Total Interest Expense |
|
17 |
231 |
239 |
354 |
315 |
316 |
250 |
233 |
215 |
189 |
Deposits Interest Expense |
|
8.99 |
187 |
156 |
179 |
206 |
208 |
195 |
186 |
181 |
154 |
Long-Term Debt Interest Expense |
|
7.58 |
44 |
83 |
175 |
109 |
108 |
55 |
47 |
34 |
35 |
Total Non-Interest Income |
|
5.68 |
56 |
36 |
-128 |
44 |
-400 |
34 |
30 |
-15 |
29 |
Service Charges on Deposit Accounts |
|
0.64 |
13 |
3.57 |
4.32 |
4.02 |
4.56 |
4.71 |
4.54 |
4.57 |
4.77 |
Other Service Charges |
|
4.13 |
46 |
15 |
14 |
23 |
17 |
14 |
12 |
19 |
14 |
Net Realized & Unrealized Capital Gains on Investments |
|
0.04 |
-2.66 |
18 |
-134 |
16 |
-425 |
14 |
14 |
-39 |
10 |
Other Non-Interest Income |
|
0.87 |
0.01 |
-0.33 |
-12 |
0.22 |
3.00 |
0.51 |
-0.36 |
0.14 |
0.34 |
Provision for Credit Losses |
|
0.00 |
56 |
3.00 |
2.00 |
0.00 |
47 |
10 |
11 |
9.00 |
13 |
Total Non-Interest Expense |
|
51 |
627 |
1,573 |
320 |
201 |
364 |
211 |
204 |
196 |
181 |
Salaries and Employee Benefits |
|
28 |
322 |
88 |
83 |
72 |
89 |
92 |
86 |
86 |
78 |
Net Occupancy & Equipment Expense |
|
12 |
73 |
28 |
28 |
28 |
29 |
33 |
33 |
32 |
30 |
Property & Liability Insurance Claims |
|
- |
- |
12 |
26 |
38 |
60 |
20 |
26 |
13 |
11 |
Other Operating Expenses |
|
8.83 |
126 |
48 |
160 |
42 |
62 |
49 |
55 |
51 |
48 |
Depreciation Expense |
|
- |
- |
9.38 |
9.09 |
8.33 |
7.45 |
7.52 |
7.51 |
7.14 |
7.10 |
Amortization Expense |
|
0.40 |
12 |
2.41 |
2.39 |
2.39 |
4.23 |
8.40 |
8.48 |
8.49 |
7.77 |
Restructuring Charge |
|
2.08 |
- |
8.51 |
12 |
9.93 |
112 |
0.00 |
-13 |
-0.51 |
-1.02 |
Income Tax Expense |
|
9.93 |
105 |
-65 |
-67 |
-3.22 |
-177 |
12 |
14 |
2.73 |
13 |
Preferred Stock Dividends Declared |
|
0.00 |
14 |
9.95 |
9.95 |
9.95 |
9.95 |
9.95 |
9.95 |
9.95 |
9.95 |
Basic Earnings per Share |
|
$0.80 |
$2.08 |
($15.56) |
($2.67) |
($0.42) |
($4.06) |
$0.12 |
$0.12 |
($0.01) |
$0.29 |
Weighted Average Basic Shares Outstanding |
|
60.16M |
59.03M |
58.07M |
57.43M |
57.44M |
156.79M |
157.75M |
158.30M |
158.33M |
158.35M |
Diluted Earnings per Share |
|
$0.80 |
$2.09 |
($15.56) |
($2.67) |
($0.42) |
($4.06) |
$0.12 |
$0.12 |
($0.01) |
$0.29 |
Weighted Average Diluted Shares Outstanding |
|
60.16M |
59.03M |
58.07M |
57.43M |
57.44M |
156.79M |
157.75M |
158.30M |
158.33M |
158.35M |
Basic & Diluted Earnings per Share |
|
- |
- |
($1,205,371,000.00) |
($207,361,000.00) |
($33,291,000.00) |
($492,902,000.00) |
$20,905,000.00 |
$20,386,000.00 |
($1,163,000.00) |
$46,972,000.00 |
Weighted Average Basic & Diluted Shares Outstanding |
|
60.16M |
59.03M |
58.07M |
57.43M |
57.44M |
156.79M |
157.75M |
158.30M |
158.33M |
158.35M |
Annual Cash Flow Statements for Banc of California
This table details how cash moves in and out of Banc of California's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-75 |
283 |
-52 |
3.89 |
-18 |
-153 |
897 |
-1,817 |
3,137 |
-2,875 |
Net Cash From Operating Activities |
|
-43 |
18 |
563 |
123 |
80 |
75 |
503 |
702 |
136 |
77 |
Net Cash From Continuing Operating Activities |
|
-43 |
18 |
563 |
123 |
80 |
75 |
503 |
702 |
136 |
203 |
Net Income / (Loss) Continuing Operations |
|
62 |
115 |
58 |
45 |
24 |
13 |
607 |
424 |
-1,899 |
127 |
Consolidated Net Income / (Loss) |
|
62 |
115 |
58 |
45 |
24 |
13 |
607 |
424 |
-1,899 |
127 |
Provision For Loan Losses |
|
9.99 |
2.24 |
13 |
29 |
35 |
29 |
-162 |
25 |
54 |
1.89 |
Depreciation Expense |
|
9.15 |
12 |
12 |
11 |
16 |
16 |
52 |
54 |
53 |
55 |
Amortization Expense |
|
-23 |
-30 |
-3.07 |
3.82 |
3.78 |
0.18 |
57 |
97 |
76 |
91 |
Non-Cash Adjustments to Reconcile Net Income |
|
-93 |
-66 |
548 |
21 |
20 |
26 |
57 |
109 |
2,022 |
179 |
Changes in Operating Assets and Liabilities, net |
|
-8.69 |
-15 |
-66 |
13 |
-19 |
-8.83 |
-108 |
-5.44 |
-170 |
-250 |
Net Cash From Investing Activities |
|
-2,257 |
-2,318 |
152 |
-470 |
2,795 |
-267 |
-5,714 |
-3,570 |
12,609 |
1,891 |
Net Cash From Continuing Investing Activities |
|
-2,257 |
-2,318 |
152 |
-470 |
2,795 |
-267 |
-5,714 |
-3,570 |
12,609 |
1,891 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-130 |
-45 |
-15 |
-9.00 |
-10 |
-5.09 |
-17 |
-20 |
-15 |
-13 |
Purchase of Investment Securities |
|
-3,843 |
-7,743 |
-2,182 |
-2,015 |
-285 |
-368 |
-10,790 |
-6,357 |
147 |
-1,522 |
Sale of Property, Leasehold Improvements and Equipment |
|
51 |
0.03 |
2.66 |
4.19 |
- |
- |
0.10 |
0.01 |
9.02 |
0.19 |
Sale and/or Maturity of Investments |
|
1,700 |
5,293 |
2,328 |
1,557 |
3,090 |
106 |
1,366 |
2,908 |
12,108 |
3,418 |
Other Investing Activities, net |
|
-35 |
-71 |
-38 |
-0.46 |
0.65 |
-0.53 |
-31 |
-101 |
26 |
7.87 |
Net Cash From Financing Activities |
|
2,224 |
2,584 |
-767 |
351 |
-2,894 |
39 |
6,108 |
1,051 |
-9,608 |
-4,844 |
Net Cash From Continuing Financing Activities |
|
2,224 |
2,584 |
-767 |
351 |
-2,894 |
39 |
6,108 |
1,090 |
-9,608 |
-4,844 |
Net Change in Deposits |
|
1,678 |
2,839 |
-1,849 |
624 |
-2,489 |
659 |
5,897 |
-1,061 |
-10,082 |
-3,210 |
Issuance of Debt |
|
934 |
68 |
1,305 |
380 |
0.00 |
194 |
339 |
1,763 |
186 |
-1,524 |
Issuance of Preferred Equity |
|
111 |
120 |
- |
- |
- |
- |
0.00 |
499 |
0.00 |
0.00 |
Issuance of Common Equity |
|
0.00 |
175 |
- |
- |
- |
- |
0.00 |
0.00 |
383 |
0.31 |
Repayment of Debt |
|
-470 |
-530 |
-103 |
-555 |
-325 |
-760 |
- |
- |
- |
0.00 |
Payment of Dividends |
|
-27 |
-42 |
-47 |
-55 |
-32 |
-26 |
-119 |
-101 |
-89 |
-108 |
Other Financing Activities, Net |
|
-1.75 |
-4.80 |
-73 |
-2.37 |
-1.02 |
-10 |
-8.51 |
-9.53 |
-5.42 |
-2.71 |
Cash Interest Paid |
|
45 |
59 |
82 |
131 |
152 |
66 |
53 |
238 |
1,064 |
1,015 |
Cash Income Taxes Paid |
|
33 |
42 |
11 |
13 |
3.13 |
0.76 |
136 |
97 |
-68 |
-14 |
Quarterly Cash Flow Statements for Banc of California
This table details how cash moves in and out of Banc of California's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
13 |
-1,845 |
4,440 |
18 |
-628 |
-692 |
-2,292 |
-386 |
-145 |
-52 |
Net Cash From Operating Activities |
|
35 |
591 |
-37 |
61 |
30 |
82 |
-88 |
39 |
47 |
80 |
Net Cash From Continuing Operating Activities |
|
35 |
591 |
-4.98 |
29 |
30 |
82 |
-40 |
-9.07 |
47 |
205 |
Net Income / (Loss) Continuing Operations |
|
24 |
324 |
-1,195 |
-197 |
-23 |
-483 |
31 |
30 |
8.78 |
57 |
Consolidated Net Income / (Loss) |
|
24 |
324 |
-1,195 |
-197 |
-23 |
-483 |
31 |
30 |
8.78 |
57 |
Provision For Loan Losses |
|
- |
56 |
3.53 |
2.16 |
0.02 |
48 |
10 |
12 |
9.21 |
-29 |
Depreciation Expense |
|
3.96 |
42 |
14 |
14 |
13 |
12 |
14 |
14 |
14 |
13 |
Amortization Expense |
|
1.08 |
93 |
12 |
27 |
18 |
19 |
23 |
24 |
-3.39 |
47 |
Non-Cash Adjustments to Reconcile Net Income |
|
-0.11 |
107 |
1,383 |
173 |
6.33 |
459 |
4.97 |
5.25 |
89 |
80 |
Changes in Operating Assets and Liabilities, net |
|
6.23 |
-30 |
-222 |
11 |
16 |
26 |
-123 |
-94 |
-70 |
37 |
Net Cash From Investing Activities |
|
146 |
-3,581 |
149 |
5,780 |
716 |
5,963 |
107 |
392 |
1,658 |
-266 |
Net Cash From Continuing Investing Activities |
|
146 |
-3,581 |
149 |
5,780 |
716 |
5,963 |
107 |
392 |
1,658 |
-266 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-1.18 |
-18 |
-9.24 |
-0.01 |
-2.86 |
-3.11 |
-1.94 |
-4.70 |
-2.27 |
-4.13 |
Purchase of Investment Securities |
|
-199 |
-5,470 |
-272 |
568 |
-54 |
-96 |
-211 |
97 |
-1,035 |
-372 |
Sale of Property, Leasehold Improvements and Equipment |
|
- |
- |
0.01 |
- |
9.01 |
- |
0.00 |
- |
0.13 |
0.05 |
Sale and/or Maturity of Investments |
|
346 |
2,012 |
145 |
5,491 |
744 |
5,727 |
324 |
303 |
226 |
2,565 |
Other Investing Activities, net |
|
- |
-103 |
285 |
-279 |
19 |
0.56 |
-3.12 |
-3.55 |
2,470 |
-2,455 |
Net Cash From Financing Activities |
|
-168 |
1,144 |
4,327 |
-5,823 |
-1,375 |
-6,737 |
-2,311 |
-817 |
-1,849 |
134 |
Net Cash From Continuing Financing Activities |
|
-168 |
1,183 |
4,327 |
-5,823 |
-1,375 |
-6,737 |
-2,311 |
-817 |
-1,849 |
134 |
Net Change in Deposits |
|
-278 |
-902 |
-5,749 |
-290 |
-1,298 |
-2,745 |
-1,509 |
-88 |
-1,976 |
364 |
Issuance of Debt |
|
215 |
1,513 |
10,371 |
-4,249 |
-64 |
-5,873 |
300 |
300 |
500 |
-2,624 |
Issuance of Common Equity |
|
- |
- |
0.00 |
- |
- |
383 |
0.07 |
0.08 |
0.10 |
0.07 |
Repayment of Debt |
|
- |
- |
-252 |
-1,272 |
-1.66 |
- |
-1,074 |
-1,001 |
-347 |
2,422 |
Payment of Dividends |
|
-3.56 |
-88 |
-39 |
-11 |
-11 |
-27 |
-27 |
-27 |
-26 |
-28 |
Other Financing Activities, Net |
|
-88 |
7.21 |
-4.05 |
-1.02 |
-0.19 |
-0.15 |
-1.24 |
-1.15 |
-0.16 |
-0.16 |
Cash Interest Paid |
|
12 |
209 |
209 |
258 |
248 |
349 |
361 |
247 |
212 |
195 |
Cash Income Taxes Paid |
|
5.10 |
82 |
0.79 |
0.36 |
-0.05 |
-69 |
-7.19 |
0.02 |
0.02 |
-7.29 |
Annual Balance Sheets for Banc of California
This table presents Banc of California's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
8,236 |
11,030 |
10,328 |
10,630 |
7,828 |
7,877 |
9,394 |
41,229 |
38,534 |
33,543 |
Cash and Due from Banks |
|
15 |
17 |
20 |
22 |
29 |
38 |
42 |
212 |
202 |
192 |
Interest Bearing Deposits at Other Banks |
|
141 |
423 |
368 |
370 |
345 |
182 |
186 |
2,028 |
5,175 |
2,310 |
Trading Account Securities |
|
2,465 |
3,564 |
2,691 |
2,030 |
942 |
1,259 |
1,316 |
7,113 |
4,634 |
4,553 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
6,610 |
7,639 |
0.00 |
5,817 |
7,159 |
28,408 |
25,208 |
23,542 |
Loans and Leases |
|
- |
- |
6,659 |
7,701 |
- |
5,898 |
7,251 |
28,609 |
25,490 |
23,782 |
Allowance for Loan and Lease Losses |
|
- |
- |
49 |
62 |
- |
81 |
93 |
201 |
282 |
239 |
Loans Held for Sale |
|
- |
- |
- |
- |
23 |
1.41 |
- |
65 |
123 |
26 |
Premises and Equipment, Net |
|
112 |
141 |
136 |
129 |
128 |
122 |
113 |
459 |
491 |
450 |
Goodwill |
|
39 |
37 |
37 |
37 |
37 |
37 |
94 |
1,377 |
199 |
215 |
Intangible Assets |
|
19 |
14 |
9.35 |
6.35 |
4.15 |
2.63 |
6.41 |
31 |
165 |
133 |
Other Assets |
|
5,443 |
6,834 |
457 |
397 |
6,321 |
417 |
477 |
1,536 |
2,336 |
2,122 |
Total Liabilities & Shareholders' Equity |
|
8,236 |
11,030 |
10,328 |
10,630 |
7,828 |
7,877 |
9,394 |
41,229 |
38,534 |
33,543 |
Total Liabilities |
|
7,583 |
10,050 |
9,316 |
9,685 |
6,921 |
6,980 |
8,328 |
37,278 |
35,143 |
30,043 |
Non-Interest Bearing Deposits |
|
1,121 |
1,283 |
1,072 |
1,023 |
1,089 |
1,559 |
2,788 |
11,212 |
7,774 |
7,720 |
Interest Bearing Deposits |
|
5,182 |
7,860 |
6,221 |
6,893 |
4,339 |
4,527 |
4,651 |
22,724 |
22,628 |
19,472 |
Long-Term Debt |
|
1,202 |
673 |
1,874 |
1,693 |
1,375 |
802 |
750 |
2,763 |
3,848 |
2,334 |
Other Long-Term Liabilities |
|
78 |
166 |
148 |
72 |
119 |
93 |
114 |
711 |
894 |
517 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
652 |
980 |
1,012 |
946 |
907 |
897 |
1,065 |
3,951 |
3,391 |
3,500 |
Total Preferred & Common Equity |
|
652 |
980 |
1,012 |
946 |
907 |
897 |
1,065 |
3,951 |
3,391 |
3,500 |
Preferred Stock |
|
191 |
269 |
269 |
231 |
190 |
185 |
95 |
499 |
499 |
499 |
Total Common Equity |
|
461 |
711 |
743 |
714 |
717 |
712 |
970 |
3,452 |
2,892 |
3,001 |
Common Stock |
|
430 |
614 |
621 |
626 |
630 |
635 |
856 |
2,822 |
3,843 |
3,787 |
Retained Earnings |
|
64 |
135 |
145 |
141 |
128 |
110 |
148 |
1,421 |
-518 |
-431 |
Accumulated Other Comprehensive Income / (Loss) |
|
-3.00 |
-9.04 |
5.23 |
-24 |
-12 |
7.75 |
7.74 |
-791 |
-432 |
-355 |
Quarterly Balance Sheets for Banc of California
This table presents Banc of California's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
9,369 |
10,039 |
9,370 |
9,247 |
36,074 |
35,244 |
33,433 |
Cash and Due from Banks |
|
69 |
37 |
43 |
46 |
200 |
203 |
252 |
Interest Bearing Deposits at Other Banks |
|
187 |
974 |
241 |
265 |
2,885 |
2,495 |
2,302 |
Trading Account Securities |
|
1,199 |
1,287 |
1,250 |
1,314 |
4,579 |
4,541 |
4,602 |
Loans and Leases, Net of Allowance |
|
7,197 |
6,970 |
7,075 |
6,887 |
25,420 |
-274 |
-280 |
Loans and Leases |
|
7,289 |
7,054 |
7,156 |
6,961 |
25,712 |
-26 |
-26 |
Allowance for Loan and Lease Losses |
|
92 |
85 |
81 |
74 |
292 |
248 |
254 |
Loans Held for Sale |
|
- |
- |
- |
- |
81 |
1,935 |
29 |
Premises and Equipment, Net |
|
108 |
108 |
108 |
109 |
485 |
482 |
458 |
Goodwill |
|
114 |
114 |
114 |
114 |
199 |
216 |
217 |
Intangible Assets |
|
8.08 |
7.07 |
6.60 |
6.14 |
157 |
149 |
141 |
Other Assets |
|
487 |
7,512 |
532 |
506 |
2,307 |
25,222 |
25,433 |
Total Liabilities & Shareholders' Equity |
|
9,369 |
10,039 |
9,370 |
9,247 |
36,074 |
35,244 |
33,433 |
Total Liabilities |
|
8,417 |
9,080 |
8,413 |
8,245 |
32,679 |
31,836 |
29,936 |
Non-Interest Bearing Deposits |
|
2,944 |
2,507 |
2,447 |
2,367 |
7,834 |
7,825 |
7,812 |
Interest Bearing Deposits |
|
4,337 |
4,445 |
4,424 |
4,274 |
21,059 |
20,979 |
19,016 |
Long-Term Debt |
|
1,005 |
2,008 |
1,422 |
1,283 |
3,077 |
2,380 |
2,534 |
Other Long-Term Liabilities |
|
121 |
120 |
120 |
136 |
710 |
651 |
574 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
952 |
959 |
957 |
1,002 |
3,394 |
3,408 |
3,496 |
Total Preferred & Common Equity |
|
952 |
959 |
957 |
1,002 |
3,394 |
3,408 |
3,496 |
Preferred Stock |
|
0.00 |
- |
- |
- |
499 |
499 |
499 |
Total Common Equity |
|
952 |
959 |
957 |
1,002 |
2,894 |
2,908 |
2,996 |
Common Stock |
|
865 |
867 |
869 |
870 |
3,828 |
3,813 |
3,802 |
Retained Earnings |
|
231 |
264 |
275 |
312 |
-497 |
-477 |
-478 |
Accumulated Other Comprehensive Income / (Loss) |
|
-48 |
-50 |
-50 |
-43 |
-436 |
-429 |
-328 |
Annual Metrics And Ratios for Banc of California
This table displays calculated financial ratios and metrics derived from Banc of California's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-4.65% |
42.53% |
-14.70% |
-11.14% |
-16.04% |
-6.46% |
433.04% |
5.23% |
-78.12% |
235.69% |
EBITDA Growth |
|
1,269.63% |
47.84% |
-55.86% |
70.15% |
-21.89% |
-36.00% |
2,920.49% |
-22.95% |
-390.17% |
115.07% |
EBIT Growth |
|
161.34% |
45.29% |
-73.24% |
74.73% |
-40.46% |
-48.67% |
5,626.56% |
-30.98% |
-489.62% |
107.63% |
NOPAT Growth |
|
36.13% |
110.95% |
-38.35% |
-21.18% |
-43.63% |
-47.08% |
4,727.10% |
-30.21% |
-465.41% |
108.20% |
Net Income Growth |
|
105.50% |
85.94% |
-50.00% |
-21.20% |
-47.75% |
-47.08% |
4,727.10% |
-30.21% |
-548.32% |
106.68% |
EPS Growth |
|
48.89% |
44.78% |
-63.40% |
26.76% |
-88.89% |
-140.00% |
19,500.00% |
-33.76% |
-541.83% |
102.29% |
Operating Cash Flow Growth |
|
93.15% |
142.13% |
3,008.33% |
-78.15% |
-34.75% |
-6.72% |
571.84% |
39.57% |
-80.66% |
-43.01% |
Free Cash Flow Firm Growth |
|
-5.37% |
138.14% |
-607.08% |
126.09% |
31.24% |
56.49% |
-17.72% |
-1,013.02% |
53.67% |
173.90% |
Invested Capital Growth |
|
49.73% |
-7.15% |
67.68% |
-8.59% |
-13.52% |
-25.55% |
6.88% |
269.75% |
7.82% |
-19.41% |
Revenue Q/Q Growth |
|
-30.40% |
60.12% |
-9.49% |
29.32% |
0.00% |
0.00% |
393.49% |
0.66% |
-82.01% |
104.91% |
EBITDA Q/Q Growth |
|
-16.43% |
57.29% |
-22.79% |
-4.41% |
246.05% |
25.81% |
686.65% |
-28.06% |
-133.93% |
166.47% |
EBIT Q/Q Growth |
|
-11.49% |
35.06% |
-35.06% |
-7.85% |
0.00% |
0.00% |
700.64% |
-35.98% |
-97.08% |
130.04% |
NOPAT Q/Q Growth |
|
-22.66% |
43.84% |
-20.34% |
77.18% |
0.00% |
0.00% |
675.19% |
-34.81% |
-97.08% |
132.29% |
Net Income Q/Q Growth |
|
16.80% |
14.06% |
-27.57% |
28.79% |
0.00% |
0.00% |
675.19% |
-34.81% |
-73.92% |
130.72% |
EPS Q/Q Growth |
|
8.94% |
0.00% |
0.00% |
114.29% |
0.00% |
0.00% |
255.96% |
-42.83% |
-37.14% |
113.58% |
Operating Cash Flow Q/Q Growth |
|
6.70% |
107.93% |
-16.46% |
-17.25% |
-7.41% |
27.48% |
349.21% |
30.54% |
-78.97% |
-2.24% |
Free Cash Flow Firm Q/Q Growth |
|
31.40% |
226.30% |
-70.21% |
841.77% |
901.00% |
-46.41% |
173.97% |
-2,279.51% |
-86.25% |
137.01% |
Invested Capital Q/Q Growth |
|
6.22% |
-13.02% |
6.93% |
-4.48% |
-16.24% |
5.33% |
20.07% |
243.10% |
216.89% |
-3.26% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
19.36% |
20.08% |
10.39% |
19.90% |
18.51% |
12.67% |
71.77% |
52.56% |
-696.88% |
31.29% |
EBIT Margin |
|
24.11% |
24.57% |
7.71% |
15.16% |
10.75% |
5.90% |
63.37% |
41.56% |
-739.97% |
16.81% |
Profit (Net Income) Margin |
|
21.63% |
28.22% |
16.54% |
14.67% |
9.13% |
5.16% |
46.77% |
31.02% |
-635.50% |
12.65% |
Tax Burden Percent |
|
89.74% |
114.85% |
214.59% |
96.77% |
84.92% |
87.56% |
73.81% |
74.64% |
85.88% |
75.24% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
40.55% |
13.68% |
-98.84% |
10.31% |
15.08% |
12.44% |
26.19% |
25.36% |
0.00% |
24.76% |
Return on Invested Capital (ROIC) |
|
2.66% |
4.85% |
2.32% |
1.53% |
0.97% |
0.63% |
34.54% |
9.93% |
-22.19% |
1.94% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
4.82% |
7.80% |
2.64% |
1.71% |
0.97% |
0.63% |
34.54% |
9.93% |
-32.81% |
1.94% |
Return on Net Nonoperating Assets (RNNOA) |
|
8.08% |
9.29% |
3.47% |
3.12% |
1.60% |
0.76% |
27.32% |
6.96% |
-29.55% |
1.74% |
Return on Equity (ROE) |
|
10.74% |
14.14% |
5.79% |
4.65% |
2.56% |
1.39% |
61.86% |
16.89% |
-51.74% |
3.68% |
Cash Return on Invested Capital (CROIC) |
|
-37.17% |
12.26% |
-48.24% |
10.50% |
15.47% |
29.92% |
27.89% |
-104.92% |
-29.71% |
23.44% |
Operating Return on Assets (OROA) |
|
0.97% |
1.04% |
0.25% |
0.45% |
0.30% |
0.18% |
9.52% |
2.24% |
-5.54% |
0.47% |
Return on Assets (ROA) |
|
0.87% |
1.20% |
0.54% |
0.43% |
0.26% |
0.16% |
7.03% |
1.67% |
-4.76% |
0.35% |
Return on Common Equity (ROCE) |
|
8.22% |
10.15% |
4.23% |
3.46% |
1.98% |
1.10% |
53.04% |
14.89% |
-44.71% |
3.15% |
Return on Equity Simple (ROE_SIMPLE) |
|
9.51% |
11.77% |
5.70% |
4.81% |
2.62% |
1.40% |
56.98% |
10.72% |
-56.01% |
3.63% |
Net Operating Profit after Tax (NOPAT) |
|
41 |
87 |
53 |
42 |
24 |
13 |
607 |
424 |
-1,548 |
127 |
NOPAT Margin |
|
14.33% |
21.21% |
15.33% |
13.60% |
9.13% |
5.16% |
46.77% |
31.02% |
-517.98% |
12.65% |
Net Nonoperating Expense Percent (NNEP) |
|
-2.16% |
-2.95% |
-0.32% |
-0.19% |
0.00% |
0.00% |
0.00% |
0.00% |
10.62% |
0.00% |
SG&A Expenses to Revenue |
|
53.91% |
55.67% |
51.81% |
52.08% |
58.42% |
54.37% |
35.23% |
37.61% |
149.18% |
46.83% |
Operating Expenses to Revenue |
|
73.29% |
74.14% |
88.36% |
74.80% |
75.49% |
81.90% |
49.12% |
56.64% |
822.57% |
78.92% |
Earnings before Interest and Taxes (EBIT) |
|
69 |
100 |
27 |
47 |
28 |
14 |
822 |
568 |
-2,211 |
169 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
56 |
82 |
36 |
62 |
48 |
31 |
931 |
718 |
-2,083 |
314 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.99 |
1.03 |
1.22 |
0.84 |
1.11 |
0.97 |
1.19 |
0.26 |
0.26 |
0.82 |
Price to Tangible Book Value (P/TBV) |
|
1.13 |
1.11 |
1.30 |
0.90 |
1.18 |
1.02 |
1.33 |
0.44 |
0.30 |
0.92 |
Price to Revenue (P/Rev) |
|
1.58 |
1.78 |
2.59 |
1.94 |
3.06 |
2.82 |
0.89 |
0.66 |
2.51 |
2.44 |
Price to Earnings (P/E) |
|
8.70 |
7.64 |
25.05 |
26.33 |
303.60 |
0.00 |
1.91 |
2.24 |
0.00 |
28.10 |
Dividend Yield |
|
3.99% |
3.34% |
2.90% |
4.38% |
1.98% |
1.75% |
1.30% |
1.60% |
3.06% |
2.59% |
Earnings Yield |
|
11.49% |
13.09% |
3.99% |
3.80% |
0.33% |
0.00% |
52.39% |
44.72% |
0.00% |
3.56% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.91 |
0.75 |
0.92 |
0.81 |
0.87 |
0.86 |
0.98 |
0.29 |
0.00 |
0.48 |
Enterprise Value to Revenue (EV/Rev) |
|
5.89 |
3.18 |
7.63 |
6.89 |
7.64 |
5.97 |
1.37 |
1.41 |
0.00 |
2.77 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
30.41 |
15.82 |
73.39 |
34.60 |
41.25 |
47.13 |
1.91 |
2.68 |
0.00 |
8.85 |
Enterprise Value to EBIT (EV/EBIT) |
|
24.43 |
12.93 |
98.94 |
45.42 |
71.04 |
101.21 |
2.16 |
3.39 |
0.00 |
16.47 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
41.09 |
14.98 |
49.76 |
50.64 |
83.66 |
115.59 |
2.93 |
4.55 |
0.00 |
21.89 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
71.74 |
4.73 |
17.35 |
24.77 |
19.41 |
3.53 |
2.74 |
0.00 |
35.90 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
5.93 |
0.00 |
7.36 |
5.22 |
2.44 |
3.62 |
0.00 |
0.00 |
1.81 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.84 |
0.76 |
1.85 |
1.79 |
1.52 |
0.89 |
0.70 |
0.70 |
1.13 |
0.67 |
Long-Term Debt to Equity |
|
1.84 |
0.69 |
1.85 |
1.79 |
1.52 |
0.89 |
0.70 |
0.70 |
1.13 |
0.67 |
Financial Leverage |
|
1.68 |
1.19 |
1.31 |
1.82 |
1.66 |
1.21 |
0.79 |
0.70 |
0.90 |
0.90 |
Leverage Ratio |
|
12.29 |
11.80 |
10.72 |
10.70 |
9.96 |
8.70 |
8.80 |
10.09 |
10.87 |
10.46 |
Compound Leverage Factor |
|
12.29 |
11.80 |
10.72 |
10.70 |
9.96 |
8.70 |
8.80 |
10.09 |
10.87 |
10.46 |
Debt to Total Capital |
|
64.81% |
43.06% |
64.93% |
64.17% |
60.24% |
47.19% |
41.33% |
41.16% |
53.16% |
40.00% |
Short-Term Debt to Total Capital |
|
0.00% |
3.95% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
64.81% |
39.11% |
64.93% |
64.17% |
60.24% |
47.19% |
41.33% |
41.16% |
53.16% |
40.00% |
Preferred Equity to Total Capital |
|
10.29% |
15.63% |
9.32% |
8.76% |
8.32% |
10.88% |
5.23% |
7.43% |
6.89% |
8.55% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
24.88% |
41.28% |
25.73% |
27.07% |
31.44% |
41.93% |
53.44% |
51.42% |
39.96% |
51.45% |
Debt to EBITDA |
|
21.63 |
9.03 |
51.70 |
27.45 |
28.53 |
25.99 |
0.81 |
3.85 |
-1.85 |
7.44 |
Net Debt to EBITDA |
|
18.79 |
3.66 |
41.00 |
21.10 |
20.78 |
18.83 |
0.56 |
0.73 |
0.73 |
-0.54 |
Long-Term Debt to EBITDA |
|
21.63 |
8.20 |
51.70 |
27.45 |
28.53 |
25.99 |
0.81 |
3.85 |
-1.85 |
7.44 |
Debt to NOPAT |
|
29.22 |
8.55 |
35.05 |
40.17 |
57.86 |
63.75 |
1.24 |
6.52 |
-2.49 |
18.39 |
Net Debt to NOPAT |
|
25.39 |
3.47 |
27.80 |
30.88 |
42.14 |
46.19 |
0.86 |
1.23 |
0.99 |
-1.33 |
Long-Term Debt to NOPAT |
|
29.22 |
7.76 |
35.05 |
40.17 |
57.86 |
63.75 |
1.24 |
6.52 |
-2.49 |
18.39 |
Noncontrolling Interest Sharing Ratio |
|
23.45% |
28.22% |
27.06% |
25.58% |
22.72% |
20.77% |
14.26% |
11.83% |
13.58% |
14.47% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-575 |
219 |
-1,112 |
290 |
381 |
596 |
490 |
-4,474 |
-2,073 |
1,532 |
Operating Cash Flow to CapEx |
|
-54.18% |
40.56% |
4,447.16% |
2,558.30% |
765.94% |
1,470.19% |
2,929.78% |
3,489.45% |
2,189.45% |
601.80% |
Free Cash Flow to Firm to Interest Expense |
|
-13.48 |
3.68 |
-13.08 |
2.12 |
2.66 |
9.02 |
8.93 |
-16.84 |
-1.69 |
1.73 |
Operating Cash Flow to Interest Expense |
|
-1.01 |
0.30 |
6.62 |
0.90 |
0.56 |
1.13 |
9.16 |
2.64 |
0.11 |
0.09 |
Operating Cash Flow Less CapEx to Interest Expense |
|
-2.87 |
-0.45 |
6.47 |
0.86 |
0.49 |
1.06 |
8.85 |
2.57 |
0.11 |
0.07 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
0.15 |
0.05 |
0.01 |
0.03 |
Fixed Asset Turnover |
|
3.02 |
3.24 |
2.52 |
2.34 |
2.02 |
1.95 |
11.07 |
4.78 |
0.63 |
2.13 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,854 |
1,722 |
2,887 |
2,639 |
2,282 |
1,699 |
1,816 |
6,714 |
7,239 |
5,834 |
Invested Capital Turnover |
|
0.19 |
0.23 |
0.15 |
0.11 |
0.11 |
0.12 |
0.74 |
0.32 |
0.04 |
0.15 |
Increase / (Decrease) in Invested Capital |
|
616 |
-132 |
1,165 |
-248 |
-357 |
-583 |
117 |
4,898 |
525 |
-1,405 |
Enterprise Value (EV) |
|
1,689 |
1,300 |
2,661 |
2,134 |
1,988 |
1,453 |
1,776 |
1,925 |
-281 |
2,778 |
Market Capitalization |
|
455 |
730 |
905 |
602 |
797 |
688 |
1,158 |
904 |
751 |
2,448 |
Book Value per Share |
|
$12.20 |
$14.29 |
$14.70 |
$14.10 |
$14.10 |
$14.18 |
$15.49 |
$57.38 |
$50.35 |
$18.96 |
Tangible Book Value per Share |
|
$10.65 |
$13.27 |
$13.78 |
$13.25 |
$13.29 |
$13.39 |
$13.88 |
$33.97 |
$44.01 |
$16.76 |
Total Capital |
|
1,854 |
1,722 |
2,887 |
2,639 |
2,282 |
1,699 |
1,816 |
6,714 |
7,239 |
5,834 |
Total Debt |
|
1,202 |
741 |
1,874 |
1,693 |
1,375 |
802 |
750 |
2,763 |
3,848 |
2,334 |
Total Long-Term Debt |
|
1,202 |
673 |
1,874 |
1,693 |
1,375 |
802 |
750 |
2,763 |
3,848 |
2,334 |
Net Debt |
|
1,044 |
301 |
1,487 |
1,302 |
1,001 |
581 |
522 |
523 |
-1,530 |
-168 |
Capital Expenditures (CapEx) |
|
79 |
45 |
13 |
4.81 |
10 |
5.09 |
17 |
20 |
6.20 |
13 |
Net Nonoperating Expense (NNE) |
|
-21 |
-29 |
-4.24 |
-3.33 |
0.00 |
0.00 |
0.00 |
0.00 |
351 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
1,202 |
741 |
1,874 |
1,693 |
1,375 |
802 |
750 |
2,763 |
3,848 |
2,334 |
Total Depreciation and Amortization (D&A) |
|
-14 |
-18 |
9.36 |
15 |
20 |
16 |
109 |
150 |
129 |
145 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.36 |
$1.97 |
$0.72 |
$0.45 |
$0.05 |
($0.04) |
$1.90 |
$3.80 |
($22.71) |
$0.52 |
Adjusted Weighted Average Basic Shares Outstanding |
|
38.38M |
49.78M |
50.59M |
50.66M |
50.90M |
50.61M |
62.67M |
59.03M |
156.79M |
158.35M |
Adjusted Diluted Earnings per Share |
|
$1.34 |
$1.94 |
$0.71 |
$0.45 |
$0.05 |
($0.04) |
$1.90 |
$3.79 |
($22.71) |
$0.52 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
38.38M |
49.78M |
50.59M |
50.66M |
50.90M |
50.61M |
62.67M |
59.03M |
156.79M |
158.35M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$87,100,000.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
38.38M |
49.78M |
50.59M |
50.66M |
50.90M |
50.61M |
62.67M |
59.03M |
156.79M |
158.35M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
41 |
87 |
44 |
51 |
29 |
15 |
614 |
450 |
-484 |
116 |
Normalized NOPAT Margin |
|
14.38% |
21.35% |
12.71% |
16.34% |
11.07% |
6.07% |
47.31% |
32.92% |
-162.08% |
11.58% |
Pre Tax Income Margin |
|
24.11% |
24.57% |
7.71% |
15.16% |
10.75% |
5.90% |
63.37% |
41.56% |
-739.97% |
16.81% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
1.62 |
1.69 |
0.32 |
0.34 |
0.20 |
0.22 |
14.98 |
2.14 |
-1.81 |
0.19 |
NOPAT to Interest Expense |
|
0.96 |
1.46 |
0.63 |
0.31 |
0.17 |
0.19 |
11.05 |
1.59 |
-1.26 |
0.14 |
EBIT Less CapEx to Interest Expense |
|
-0.24 |
0.94 |
0.17 |
0.31 |
0.12 |
0.14 |
14.66 |
2.06 |
-1.81 |
0.18 |
NOPAT Less CapEx to Interest Expense |
|
-0.90 |
0.71 |
0.48 |
0.27 |
0.09 |
0.11 |
10.74 |
1.52 |
-1.27 |
0.13 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
43.66% |
36.58% |
81.39% |
122.03% |
133.79% |
207.51% |
19.68% |
23.82% |
-4.67% |
85.18% |
Augmented Payout Ratio |
|
43.66% |
36.58% |
81.39% |
122.03% |
133.79% |
303.27% |
19.68% |
23.82% |
-4.67% |
85.18% |
Quarterly Metrics And Ratios for Banc of California
This table displays calculated financial ratios and metrics derived from Banc of California's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
24.23% |
0.82% |
283.31% |
-32.16% |
105.12% |
-122.41% |
-16.71% |
347.08% |
24.17% |
205.98% |
EBITDA Growth |
|
14.62% |
-33.18% |
-1,794.27% |
-633.70% |
-88.38% |
-211.51% |
106.40% |
137.02% |
375.31% |
120.72% |
EBIT Growth |
|
7.21% |
-42.63% |
-1,972.80% |
-817.17% |
-177.84% |
-253.75% |
103.36% |
116.88% |
143.34% |
110.62% |
NOPAT Growth |
|
4.43% |
-41.09% |
-1,918.60% |
-792.98% |
-176.86% |
-242.51% |
103.50% |
116.39% |
147.24% |
112.32% |
Net Income Growth |
|
4.43% |
-41.09% |
-2,564.18% |
-839.05% |
-196.48% |
-248.97% |
102.58% |
115.37% |
137.63% |
111.79% |
EPS Growth |
|
-4.76% |
-64.81% |
-1,227.54% |
-406.90% |
-152.50% |
-294.26% |
100.77% |
104.49% |
97.62% |
107.14% |
Operating Cash Flow Growth |
|
204.56% |
38.43% |
-802.83% |
-12.51% |
-14.98% |
-86.21% |
-138.88% |
-36.04% |
55.91% |
-2.17% |
Free Cash Flow Firm Growth |
|
-439.64% |
-1,155.17% |
-3,100.12% |
-532.72% |
17.65% |
78.42% |
-70.70% |
-309.19% |
-979.70% |
248.12% |
Invested Capital Growth |
|
29.39% |
269.75% |
63.56% |
36.84% |
16.74% |
7.82% |
118.14% |
143.28% |
163.98% |
-19.41% |
Revenue Q/Q Growth |
|
-0.46% |
1,207.65% |
-71.63% |
-81.63% |
200.96% |
-242.86% |
234.96% |
-1.38% |
-16.41% |
21.94% |
EBITDA Q/Q Growth |
|
-6.70% |
1,339.25% |
-318.99% |
81.85% |
102.03% |
-13,906.66% |
112.00% |
4.95% |
-73.90% |
501.98% |
EBIT Q/Q Growth |
|
-7.45% |
1,157.86% |
-393.60% |
79.02% |
89.95% |
-2,384.34% |
105.69% |
5.28% |
-74.21% |
508.85% |
NOPAT Q/Q Growth |
|
-9.42% |
1,239.86% |
-372.13% |
79.02% |
89.95% |
-2,384.34% |
105.91% |
-1.68% |
-71.04% |
547.99% |
Net Income Q/Q Growth |
|
-9.42% |
1,239.86% |
-468.74% |
83.49% |
88.18% |
-1,968.86% |
105.62% |
-1.68% |
-71.04% |
547.99% |
EPS Q/Q Growth |
|
-8.05% |
161.25% |
-844.50% |
82.84% |
84.27% |
-866.67% |
102.01% |
0.00% |
-108.33% |
3,000.00% |
Operating Cash Flow Q/Q Growth |
|
-49.40% |
1,572.74% |
-106.26% |
265.23% |
-50.83% |
171.34% |
-311.77% |
144.24% |
19.87% |
70.25% |
Free Cash Flow Firm Q/Q Growth |
|
-222.09% |
-988.22% |
55.51% |
59.43% |
58.08% |
-185.16% |
-231.87% |
2.75% |
-10.61% |
139.12% |
Invested Capital Q/Q Growth |
|
12.55% |
243.10% |
-55.81% |
-19.80% |
-3.99% |
216.89% |
-10.60% |
-10.56% |
4.18% |
-3.26% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
46.03% |
50.66% |
-391.07% |
-386.31% |
2.61% |
0.00% |
30.06% |
31.98% |
9.99% |
49.30% |
EBIT Margin |
|
40.11% |
38.58% |
-399.27% |
-455.98% |
-15.22% |
0.00% |
16.13% |
17.22% |
5.31% |
26.53% |
Profit (Net Income) Margin |
|
28.44% |
29.14% |
-378.70% |
-340.40% |
-13.37% |
0.00% |
11.73% |
11.70% |
4.05% |
21.54% |
Tax Burden Percent |
|
70.90% |
75.52% |
94.85% |
74.65% |
87.87% |
73.18% |
72.76% |
67.95% |
76.29% |
81.19% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
29.10% |
24.48% |
0.00% |
0.00% |
0.00% |
0.00% |
27.24% |
32.05% |
23.71% |
18.81% |
Return on Invested Capital (ROIC) |
|
22.24% |
9.33% |
-186.96% |
-243.61% |
-8.35% |
0.00% |
0.61% |
1.28% |
0.48% |
3.31% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
22.24% |
9.33% |
-209.00% |
-244.73% |
-8.76% |
0.00% |
0.61% |
1.28% |
0.48% |
3.31% |
Return on Net Nonoperating Assets (RNNOA) |
|
20.70% |
6.54% |
-306.55% |
-283.94% |
-10.26% |
0.00% |
0.71% |
1.12% |
0.41% |
2.97% |
Return on Equity (ROE) |
|
42.94% |
15.87% |
-493.51% |
-527.55% |
-18.60% |
0.00% |
1.33% |
2.40% |
0.88% |
6.27% |
Cash Return on Invested Capital (CROIC) |
|
11.84% |
-104.92% |
-70.49% |
-67.20% |
-52.49% |
-29.71% |
-87.75% |
-93.75% |
-99.56% |
23.44% |
Operating Return on Assets (OROA) |
|
6.17% |
2.08% |
-65.07% |
-75.94% |
-2.72% |
0.00% |
0.17% |
0.35% |
0.12% |
0.74% |
Return on Assets (ROA) |
|
4.37% |
1.57% |
-61.72% |
-56.69% |
-2.39% |
0.00% |
0.13% |
0.23% |
0.09% |
0.60% |
Return on Common Equity (ROCE) |
|
40.67% |
13.99% |
-493.51% |
-527.55% |
-18.60% |
0.00% |
1.17% |
2.12% |
0.78% |
5.36% |
Return on Equity Simple (ROE_SIMPLE) |
|
68.26% |
0.00% |
-85.55% |
-109.13% |
-109.01% |
0.00% |
-19.82% |
-13.06% |
-11.81% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
24 |
324 |
-882 |
-185 |
-19 |
-462 |
31 |
30 |
8.78 |
57 |
NOPAT Margin |
|
28.44% |
29.14% |
-279.49% |
-319.19% |
-10.65% |
0.00% |
11.73% |
11.70% |
4.05% |
21.54% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
22.04% |
1.11% |
0.42% |
0.63% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
46.60% |
35.51% |
36.91% |
191.66% |
57.17% |
0.00% |
47.78% |
45.83% |
54.20% |
40.82% |
Operating Expenses to Revenue |
|
59.89% |
56.38% |
498.32% |
552.53% |
115.22% |
0.00% |
80.07% |
78.54% |
90.53% |
68.63% |
Earnings before Interest and Taxes (EBIT) |
|
34 |
429 |
-1,260 |
-264 |
-27 |
-660 |
42 |
45 |
12 |
70 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
39 |
564 |
-1,234 |
-224 |
4.55 |
-629 |
79 |
83 |
22 |
130 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.96 |
0.26 |
0.74 |
0.68 |
0.69 |
0.26 |
0.82 |
0.69 |
0.78 |
0.82 |
Price to Tangible Book Value (P/TBV) |
|
1.10 |
0.44 |
0.85 |
0.78 |
0.78 |
0.30 |
0.93 |
0.79 |
0.88 |
0.92 |
Price to Revenue (P/Rev) |
|
0.67 |
0.66 |
0.45 |
0.42 |
0.42 |
2.51 |
9.62 |
4.51 |
4.76 |
2.44 |
Price to Earnings (P/E) |
|
1.39 |
2.24 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
28.10 |
Dividend Yield |
|
1.58% |
1.60% |
2.32% |
2.85% |
2.99% |
3.06% |
2.65% |
3.13% |
2.72% |
2.59% |
Earnings Yield |
|
71.79% |
44.72% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
3.56% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.85 |
0.29 |
0.58 |
0.75 |
0.73 |
0.00 |
0.44 |
0.38 |
0.47 |
0.48 |
Enterprise Value to Revenue (EV/Rev) |
|
1.22 |
1.41 |
1.07 |
1.14 |
1.00 |
0.00 |
11.61 |
4.91 |
5.74 |
2.77 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
1.66 |
2.68 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
8.85 |
Enterprise Value to EBIT (EV/EBIT) |
|
1.87 |
3.39 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
16.47 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
2.56 |
4.55 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
21.89 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
3.09 |
2.74 |
2.59 |
2.75 |
2.57 |
0.00 |
33.86 |
35.23 |
35.50 |
35.90 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
8.09 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.81 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.06 |
0.70 |
2.09 |
1.49 |
1.28 |
1.13 |
0.91 |
0.70 |
0.72 |
0.67 |
Long-Term Debt to Equity |
|
1.06 |
0.70 |
2.09 |
1.49 |
1.28 |
1.13 |
0.91 |
0.70 |
0.72 |
0.67 |
Financial Leverage |
|
0.93 |
0.70 |
1.47 |
1.16 |
1.17 |
0.90 |
1.17 |
0.87 |
0.85 |
0.90 |
Leverage Ratio |
|
9.82 |
10.09 |
10.13 |
9.90 |
9.53 |
10.87 |
10.59 |
10.22 |
9.49 |
10.46 |
Compound Leverage Factor |
|
9.82 |
10.09 |
10.13 |
9.90 |
9.53 |
10.87 |
10.59 |
10.22 |
9.49 |
10.46 |
Debt to Total Capital |
|
51.35% |
41.16% |
67.68% |
59.77% |
56.15% |
53.16% |
47.55% |
41.12% |
42.02% |
40.00% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
51.35% |
41.16% |
67.68% |
59.77% |
56.15% |
53.16% |
47.55% |
41.12% |
42.02% |
40.00% |
Preferred Equity to Total Capital |
|
0.00% |
7.43% |
0.00% |
0.00% |
0.00% |
6.89% |
7.70% |
8.61% |
8.27% |
8.55% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
48.65% |
51.42% |
32.32% |
40.23% |
43.85% |
39.96% |
44.72% |
50.24% |
49.68% |
51.45% |
Debt to EBITDA |
|
1.01 |
3.85 |
-3.41 |
-1.66 |
-1.44 |
-1.85 |
-3.86 |
-4.86 |
-5.37 |
7.44 |
Net Debt to EBITDA |
|
0.75 |
0.73 |
-1.69 |
-1.33 |
-1.09 |
0.73 |
0.01 |
0.65 |
0.04 |
-0.54 |
Long-Term Debt to EBITDA |
|
1.01 |
3.85 |
-3.41 |
-1.66 |
-1.44 |
-1.85 |
-3.86 |
-4.86 |
-5.37 |
7.44 |
Debt to NOPAT |
|
1.55 |
6.52 |
-3.77 |
-1.91 |
-1.63 |
-2.49 |
-4.84 |
-5.67 |
-6.45 |
18.39 |
Net Debt to NOPAT |
|
1.15 |
1.23 |
-1.87 |
-1.53 |
-1.24 |
0.99 |
0.01 |
0.76 |
0.05 |
-1.33 |
Long-Term Debt to NOPAT |
|
1.55 |
6.52 |
-3.77 |
-1.91 |
-1.63 |
-2.49 |
-4.84 |
-5.67 |
-6.45 |
18.39 |
Noncontrolling Interest Sharing Ratio |
|
5.28% |
11.83% |
0.00% |
0.00% |
0.00% |
0.00% |
11.49% |
11.46% |
11.12% |
14.47% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-420 |
-4,574 |
-2,035 |
-826 |
-346 |
-987 |
-3,474 |
-3,379 |
-3,737 |
1,462 |
Operating Cash Flow to CapEx |
|
3,009.28% |
3,365.95% |
-401.21% |
679,344.44% |
0.00% |
2,620.27% |
-4,556.49% |
832.51% |
2,190.23% |
1,955.78% |
Free Cash Flow to Firm to Interest Expense |
|
-25.37 |
-19.78 |
-8.53 |
-2.33 |
-1.10 |
-3.12 |
-13.92 |
-14.49 |
-17.40 |
7.73 |
Operating Cash Flow to Interest Expense |
|
2.13 |
2.56 |
-0.16 |
0.17 |
0.10 |
0.26 |
-0.35 |
0.17 |
0.22 |
0.42 |
Operating Cash Flow Less CapEx to Interest Expense |
|
2.06 |
2.48 |
-0.19 |
0.17 |
0.11 |
0.25 |
-0.36 |
0.15 |
0.21 |
0.40 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.15 |
0.05 |
0.16 |
0.17 |
0.18 |
0.01 |
0.01 |
0.02 |
0.02 |
0.03 |
Fixed Asset Turnover |
|
12.24 |
4.78 |
14.69 |
14.50 |
15.32 |
0.63 |
0.83 |
1.52 |
1.73 |
2.13 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,957 |
6,714 |
2,967 |
2,379 |
2,284 |
7,239 |
6,471 |
5,788 |
6,030 |
5,834 |
Invested Capital Turnover |
|
0.78 |
0.32 |
0.67 |
0.76 |
0.78 |
0.04 |
0.05 |
0.11 |
0.12 |
0.15 |
Increase / (Decrease) in Invested Capital |
|
444 |
4,898 |
1,153 |
641 |
328 |
525 |
3,505 |
3,409 |
3,746 |
-1,405 |
Enterprise Value (EV) |
|
1,661 |
1,925 |
1,709 |
1,791 |
1,662 |
-281 |
2,857 |
2,196 |
2,810 |
2,778 |
Market Capitalization |
|
912 |
904 |
712 |
653 |
691 |
751 |
2,367 |
2,016 |
2,332 |
2,448 |
Book Value per Share |
|
$15.87 |
$57.38 |
$16.25 |
$16.48 |
$17.44 |
$50.35 |
$18.46 |
$18.43 |
$18.93 |
$18.96 |
Tangible Book Value per Share |
|
$13.83 |
$33.97 |
$14.19 |
$14.40 |
$15.34 |
$44.01 |
$16.19 |
$16.12 |
$16.67 |
$16.76 |
Total Capital |
|
1,957 |
6,714 |
2,967 |
2,379 |
2,284 |
7,239 |
6,471 |
5,788 |
6,030 |
5,834 |
Total Debt |
|
1,005 |
2,763 |
2,008 |
1,422 |
1,283 |
3,848 |
3,077 |
2,380 |
2,534 |
2,334 |
Total Long-Term Debt |
|
1,005 |
2,763 |
2,008 |
1,422 |
1,283 |
3,848 |
3,077 |
2,380 |
2,534 |
2,334 |
Net Debt |
|
749 |
523 |
997 |
1,138 |
972 |
-1,530 |
-8.01 |
-319 |
-20 |
-168 |
Capital Expenditures (CapEx) |
|
1.18 |
18 |
9.22 |
0.01 |
-6.14 |
3.11 |
1.94 |
4.70 |
2.14 |
4.08 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
313 |
12 |
4.75 |
21 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
1,005 |
2,763 |
2,008 |
1,422 |
1,283 |
3,848 |
3,077 |
2,380 |
2,534 |
2,334 |
Total Depreciation and Amortization (D&A) |
|
5.04 |
134 |
26 |
40 |
31 |
31 |
37 |
38 |
10 |
60 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.00 |
$2.08 |
$0.00 |
$0.62 |
$0.00 |
($4.06) |
$0.12 |
$0.12 |
($0.01) |
$0.29 |
Adjusted Weighted Average Basic Shares Outstanding |
|
0.00 |
59.03M |
0.00 |
57.43M |
0.00 |
156.79M |
157.75M |
158.30M |
158.33M |
158.35M |
Adjusted Diluted Earnings per Share |
|
$0.00 |
$2.09 |
$0.00 |
$0.62 |
$0.00 |
($4.06) |
$0.12 |
$0.12 |
($0.01) |
$0.29 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
0.00 |
59.03M |
0.00 |
57.43M |
0.00 |
156.79M |
157.75M |
158.30M |
158.33M |
158.35M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
($492,902,000.00) |
$20,905,000.00 |
$20,386,000.00 |
($1,163,000.00) |
$46,972,000.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
0.00 |
59.03M |
0.00 |
57.43M |
0.00 |
156.79M |
157.75M |
158.30M |
158.33M |
158.35M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
26 |
324 |
87 |
-176 |
-12 |
-384 |
31 |
22 |
8.39 |
56 |
Normalized NOPAT Margin |
|
30.17% |
29.14% |
27.70% |
-304.23% |
-6.67% |
0.00% |
11.73% |
8.38% |
3.87% |
21.22% |
Pre Tax Income Margin |
|
40.11% |
38.58% |
-399.27% |
-455.98% |
-15.22% |
0.00% |
16.13% |
17.22% |
5.31% |
26.53% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.06 |
1.86 |
-5.28 |
-0.75 |
-0.08 |
-2.09 |
0.17 |
0.19 |
0.05 |
0.37 |
NOPAT to Interest Expense |
|
1.46 |
1.40 |
-3.70 |
-0.52 |
-0.06 |
-1.46 |
0.12 |
0.13 |
0.04 |
0.30 |
EBIT Less CapEx to Interest Expense |
|
1.99 |
1.78 |
-5.32 |
-0.75 |
-0.06 |
-2.10 |
0.16 |
0.17 |
0.04 |
0.35 |
NOPAT Less CapEx to Interest Expense |
|
1.39 |
1.33 |
-3.74 |
-0.52 |
-0.04 |
-1.47 |
0.12 |
0.11 |
0.03 |
0.28 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
17.93% |
23.82% |
-21.15% |
-17.32% |
-17.22% |
-4.67% |
-11.28% |
-20.69% |
-26.07% |
85.18% |
Augmented Payout Ratio |
|
17.93% |
23.82% |
-21.15% |
-17.32% |
-17.22% |
-4.67% |
-11.28% |
-20.69% |
-26.07% |
85.18% |
Key Financial Trends
Key Positive Trends for Banc of California (NYSE: BANC):
- Net interest income has generally stabilized around the $229M-$235M range in 2024 Q1-Q4 after a dip in 2023 Q3-Q4, showing a recovery trajectory.
- Net income attributable to common shareholders improved significantly in 2024 Q4 reaching $46.97 million, a notable rebound from losses in 2023 Q3 (-$1.16M) and Q4 (-$492.9M).
- Total revenue in 2024 quarters is showing growth, for example $264.3M in Q4 2024 compared to negative revenue in 2023 Q4 (-$249.4M), indicating revenue recovery.
- Provision for credit losses declined to more manageable levels in 2024 quarters ($9M-$12.8M range), down significantly from a very high $47M in 2023 Q4, suggesting improvement in asset quality or credit risk.
- Operating cash flow turned strongly positive in 2024 quarters, with Q4 2024 net cash from operating activities at $79.8M, up from negative cash flows in some 2023 periods.
- Decline in restructuring charges from $111.8M in 2023 Q4 to a small negative restructuring charge (gain) of -$1M in 2024 Q4, indicating reduced restructuring costs.
- Deposits increased notably in Q4 2024 with net change in deposits of +$363.6M, providing liquidity and funding stability.
- Strong amortization and depreciation are non-cash expenses that add back in cash flows supporting the operating cash flow generation.
Neutral/Stable Observations:
- Loan and leases interest income declined slightly in 2024 compared to 2023 peaks but remains high at $357.3M in Q4 2024.
- Total assets as of Q3 2024 stood at $33.4B, a slight decline compared to Q2'24 and Q1'24 levels near $35B and $36B respectively, showing some asset contraction.
- Total equity stands around $3.4B in mid 2024, consistent with prior quarters indicating moderate capitalization levels but no rapid growth.
- Long-term debt remains sizable at roughly $2.5B in Q3 2024, relatively steady from earlier 2024 quarters.
- Basic and diluted earnings per share improved to positive $0.29 in Q4 2024, after negative EPS in much of 2023, indicating a return to profitability but still relatively low gains per share.
Negative Trends and Risks:
- Banc of California reported significant net losses in 2023 Q4 (-$482.9M) and Q3 (-$23.3M), due primarily to heavy realized & unrealized capital losses linked to investments (-$425.4M in 2023 Q4), indicating volatility in investment portfolio.
- Total non-interest expenses remain high at around $181M-$210M for 2024 quarters and spiked to $363M in 2023 Q4, pressuring earnings.
- The bank has sustained large restructuring charges in past quarters, especially $111.8M in 2023 Q4 and elevated restructuring costs in 2023 and earlier, indicating ongoing restructuring that may pressure short term results.
- Allowance for loan and lease losses remains high (e.g. $254M in 2024 Q3), reflecting concerns about credit risks on the loan portfolio.
- Despite recent improvements, quarterly net income remains volatile, with losses in much of 2023 and only recent quarters turning positive, reflecting ongoing earnings variability and risk.
- Cash flows from financing activities have been significantly negative in 2024 indicating debt repayments and other financing outflows, which could impact liquidity.
Summary:
Banc of California has seen a meaningful turnaround in 2024 after suffering large investment losses and net income deficits in 2023. Key improvements include stabilizing net interest income, reducing credit loss provisions, and regaining quarterly profitability in Q4 2024. Operating cash flows turned positive in 2024 quarters contributing to better financial flexibility. However, the company still faces elevated operating expenses, restructuring charges, and loan loss reserves suggesting caution. The large volatility in realized investment gains/losses in prior quarters adds a layer of earnings risk. Overall, the financials indicate progress toward recovery but with risks remaining from loan portfolio credit quality and investment volatility.
10/05/25 08:06 AM ETAI Generated. May Contain Errors.