28th January 2016

Banc of California Reports Record 2015 Earnings

Banc of California, Inc. today reported net income of $19.0 million for the fourth quarter of 2015, resulting in diluted earnings per share of $0.39 for the quarter and $1.34 for the full year.

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Banc of California Reports Record 2015 Earnings

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 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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