Banc of California, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 24, 2019 at 03:30 pm IST
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Banc of California, Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 70.682 million compared to USD 73.173 million a year ago. Net income was USD 11.038 million compared to USD 11.302 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to USD 0.11 a year ago. Basic earnings per share was USD 0.13 compared to USD 0.12 a year ago. For the full year, net interest income was USD 286.076 million compared to USD 304.190 million a year ago. Net income was USD 45.472 million compared to USD 57.709 million a year ago. Basic earnings per share from continuing operations was USD 0.38 compared to USD 0.64 a year ago. Basic earnings per share was USD 0.45 compared to USD 0.72 a year ago. Diluted earnings per share from continuing operations was USD 0.38 compared to USD 0.63 a year ago. Diluted earnings per share was USD 0.45 compared to USD 0.71 a year ago.
Banc of California, Inc. is a bank holding company for its subsidiary, Banc of California (the Bank), a California state-chartered bank. The Bank provides a range of loan and deposit products and services through more than 90 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, and full-stack payment processing solutions through its subsidiary, Deepstack Technologies, LLC. The Bank also serves the Community Association Management Industry nationwide with its technology-forward platform SmartStreet. The Bank is organized into four business groups: Community Banking, Specialty Banking, Deposit Services, and Payment Solutions. Specialty Banking is focused on serving clients in niche verticals by industry, including homeowner associations, venture banking, SBA lending, mortgage warehouse lending, media and entertainment and equipment finance. Deposit Services provide valuable services to clients in the Community and Specialty Banking groups.
BANC OF CALIFORNIA, INC. 
