NYSE$BANC
Banc Of California · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported net income with stable deposit mix and improved net interest margin.
Banc of California reported a net income of $42.6 million for Q3 2023, a 138% increase from the prior quarter. The results reflect strategic balance sheet positioning ahead of the merger with PacWest, including a $46.2 million gain from derivative instruments.
- Net income of $42.6 million, or $0.74 per diluted common share, up 138% from the prior quarter.
- Stable overall deposit mix, with the period-end noninterest-bearing deposit percentage consistent with the prior quarter at 36% of total deposits.
- Net interest margin improvement of 8 basis points from 3.11% to 3.19% in comparison to the prior quarter.
- High liquidity levels, with immediately available on-balance sheet liquidity and unused borrowing capacity of $3.67 billion.
Headline financials
Revenue & EPS history
Banc of California · Revenue · Quarterly
$120M
Forward guidance
Banc of California expects to close the merger with PacWest on or about November 30, 2023.
Tailwinds
- Strong, liquid balance sheet
- Strong credit quality
- Ample reserves
- Sufficient capital
- Growth centered around relationship banking and high quality commercial clients
Headwinds
- Volatility and changes in the interest rate environment
- Relative performance of the two companies
- Potential impacts on the opening day and post-restructuring balance sheets
- Refinements to many of the assumptions and estimates used in the creation of projections included in the Investor Presentation
- Economic environment remains dynamic with heightened levels of volatility in interest rates, market levels and potentially other economic impacts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.2%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+3.2%
Avg return
30 days after
45%
30 / 66 earnings
Positive
+21.2%
Q3 2016
Best reaction
-11.8%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.8% | +2.7% | +2.3% | |
| Q4 2025 | -1.7% | -4.5% | -4.9% | |
| Q3 2025 | -2.0% | +1.6% | +5.2% | |
| Q2 2025 | -1.5% | -0.4% | +5.4% | |
| Q1 2025 | -1.9% | -1.5% | +0.1% | |
| Q4 2024 | -2.3% | -0.1% | -6.7% | |
| Q3 2024 | +3.3% | +2.8% | +10.5% | |
| Q2 2024 | -11.8% | -1.9% | -5.1% | |
| Q1 2024 | -0.8% | +0.8% | -3.0% | |
| Q4 2023 | +10.5% | +11.3% | +9.6% | |
| Q3 2023 | -4.8% | -4.0% | +10.4% | |
| Q2 2023 | +11.9% | +10.0% | -7.1% | |
| Q1 2023 | -1.5% | -7.1% | -11.3% | |
| Q4 2022 | -0.2% | -2.6% | +6.3% | |
| Q3 2022 | -8.2% | -5.4% | -2.9% | |
| Q2 2022 | -5.9% | -3.6% | -1.4% | |
| Q1 2022 | -2.1% | -2.5% | -6.7% | |
| Q4 2021 | -6.0% | -7.2% | -7.3% | |
| Q3 2021 | +5.0% | +9.3% | +11.9% | |
| Q2 2021 | +5.2% | +5.5% | +7.5% | |
| Q1 2021 | -1.7% | -1.5% | -0.1% | |
| Q4 2020 | -0.3% | -1.1% | +6.4% | |
| Q3 2020 | +7.2% | +2.3% | +15.6% | |
| Q2 2020 | +7.7% | +7.7% | +9.9% | |
| Q1 2020 | -3.3% | -9.7% | +1.6% | |
| Q4 2019 | -3.9% | -3.2% | -2.1% | |
| Q3 2019 | -7.6% | -7.3% | -0.2% | |
| Q2 2019 | +4.2% | +6.7% | -3.8% | |
| Q1 2019 | -1.1% | -0.8% | -9.0% | |
| Q4 2018 | -1.0% | +0.0% | +8.9% | |
| Q3 2018 | -4.1% | -0.1% | +7.5% | |
| Q2 2018 | +7.0% | +7.0% | +6.4% | |
| Q1 2018 | +3.8% | +1.4% | +6.5% | |
| Q4 2017 | -4.8% | -9.2% | -5.5% | |
| Q3 2017 | +5.9% | +2.7% | +2.2% | |
| Q2 2017 | -2.9% | +0.2% | -8.3% | |
| Q1 2017 | -6.5% | -2.1% | -0.9% | |
| Q4 2016 | +6.8% | +10.5% | +38.9% | |
| Q3 2016 | +21.2% | +15.7% | +31.4% | |
| Q2 2016 | +4.9% | +11.7% | +10.4% | |
| Q1 2016 | +3.0% | — | — | |
| Q4 2015 | +9.3% | — | — | |
| Q3 2015 | +1.5% | — | — | |
| Q2 2015 | -4.3% | — | — | |
| Q1 2015 | -1.8% | — | — | |
| Q4 2014 | +3.5% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | +8.3% | — | — | |
| Q1 2014 | +2.4% | — | — | |
| Q4 2013 | -2.5% | — | — | |
| Q3 2013 | -6.3% | — | — | |
| Q2 2013 | -2.0% | — | — | |
| Q1 2013 | +7.4% | — | — | |
| Q4 2012 | +1.7% | — | — | |
| Q3 2012 | -0.3% | — | — | |
| Q2 2012 | +0.3% | — | — | |
| Q1 2012 | +0.7% | — | — | |
| Q1 2011 | +0.7% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q4 2009 | +0.6% | — | — | |
| Q3 2010 | -2.3% | — | — | |
| Q3 2011 | -2.3% | — | — | |
| Q2 2010 | -9.1% | — | — | |
| Q2 2011 | -9.1% | — | — | |
| Q4 2010 | -9.1% | — | — | |
| Q1 2010 | +5.1% | — | — |
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