Recent Updates — BANC-PF

Banc of California, Inc. reported a net loss available to common stockholders of $251.3 million, or $(1.61) per diluted share, for the second quarter ended June 30, 2026. The results reflect significant one-time charges from a strategic balance sheet repositioning, including a $256.7 million pre-tax loss on securities sold and a $161.8 million provision for credit losses related to the transfer of $827.0 million in commercial real estate loans to held-for-sale. The company also retired $385.0 million of subordinated debt prior to an interest rate reset. Despite these actions, average loan growth was 9% annualized and deposits grew 12% annualized. Book value per share was $18.38 and tangible book value per share was $16.44. Banc of California operates as a regional bank holding company providing commercial banking services in California.