Banc of California (BANC) Tops Q3 EPS by 17c
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Banc of California Reports Record Third Quarter Earnings
October 19, 2016 6:00 AM EDTIRVINE, Calif., Oct. 19, 2016 /PRNewswire/ -- Banc of California, Inc. (NYSE: BANC) today reported record quarterly net income of $35.9 million for the third quarter of 2016, resulting in earnings per share of $0.59 for the quarter, fully diluted. Third quarter net income increased 147% compared to the third quarter of 2015. Net income available to common shareholders for the third quarter was $30.8 million, an increase of 168% compared to the third quarter of 2015.
Highlights for the quarter included:
Record quarterly deposit growth of $1.1 billion, or 15%, and annual deposit growth of $3.7 billion, or 67%.... MoreBanc of California Update
October 18, 2016 7:05 PM EDTIRVINE, Calif., Oct. 18, 2016 /PRNewswire/ -- Banc of California, Inc. (NYSE: BANC) today announced it is aware of allegations posted in a financial blog. The Company's Board of Directors has been aware of matters relating to Jason Galanis including certain claims he had made suggesting an affiliation with members of the Company, its Board, and/or its Executive team. The Board, acting through its Disinterested Directors, immediately initiated a thorough independent investigation led by Winston & Strawn, and has received regular reports including related to regulatory and governmental communications over the past... More
