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Dec 31, 2024
Banc of California Q4 2024 Earnings Report
Banc of California reported strong Q4 2024 results driven by net interest margin expansion and lower noninterest expenses.
Key Takeaways
Banc of California reported net earnings available to common and equivalent stockholders of $47.0 million, or $0.28 per diluted common share, for the fourth quarter of 2024. The company's net interest margin expanded, and noninterest expenses decreased, contributing to the improved financial performance.
Net interest margin expanded by 11 basis points compared to 3Q24, reaching 3.04%.
Funding costs decreased by 27 basis points compared to 3Q24.
Average noninterest-bearing deposits grew to 29.1% of average total deposits.
Total noninterest expense declined 7.6% compared to 3Q24.
Forward Guidance
Banc of California believes it is well-positioned to generate further growth in the balance sheet in 2025, expanding operating leverage and profitability to create additional value for its shareholders.
Positive Outlook
- Positive economic outlook
- Solid gains in loans
- Solid gains in deposits
- Expanding operating leverage
- Expanding profitability
Historical Earnings Impact
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Avg. Return Before/After Earnings
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