Pre-tax income for the full year 2015 was $104.3 million, an increase of 294% compared to full year 2014. Net income available to common shareholders for 2015 grew to $52.2 million, an increase of 97% compared to full year 2014.

Highlights for the fourth quarter included:
• Record quarterly core deposit growth of $540 million; including $110 million from non-interest bearing deposits.
• Record quarterly commercial banking segment loan and lease originations of $914 million; resulting in $2.8 billion for the full year.
• Full year 2015 total loan originations of $7.1 billion.
• Commercial Banking profits increased to 90% of total, fully allocated segment profitability with Financial Advisory finishing at 9% and Mortgage Banking falling to 1% for the quarter.
• The Company’s return on average assets for the quarter was 1.0%, and its return on average tangible common equity (ROTCE) for the quarter was 16.6%.
• The Company’s consolidated assets totalled $8.2 billion at December 31, 2015, an increase of $1.0 billion compared to the prior quarter, and an increase of $2.3 billion compared to a year ago.

Steven Sugarman, Chairman and Chief Executive Officer said: “Banc of California finished 2015 with accelerating growth and profitability across our businesses. Our return on tangible common equity over 15% and return on assets over 1% demonstrates the long-term earnings power of our franchise. Combining these returns with our industry leading growth continues to yield significant value creation for shareholders. Our strong results are a testament to the hard work and dedication of our talented employees, who as employee-shareholders take pride in the shared success in growing the long-term value of the franchise. I am also particularly proud that Banc of California ranked #1 for total shareholder return in 2015 of all west coast banks included on Forbes Magazine’s list of America’s Top 100 banks.”

The Company will host a conference call to discuss its fourth quarter financial results at 8:00 a.m. Pacific Time (PT) on Thursday, January 28, 2016. Interested parties are welcome to attend the conference call by dialing 888-317-6003, and referencing event code 4988712. A live audio webcast will also be available and the webcast link will be posted on the Company’s Investor Relations website at www.bancofcal.com/investor. The slide presentation for the call will also be available on the Company’s Investor Relations website prior to the call.

 

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