Banc Of California Q3 Profit Rises - Quick Facts

(RTTNews) - Banc of California Inc. (BANC) reported net income of $42.6 million, or $0.74 per share, for the third quarter of 2023 up from $24.20 million or $0.40 per share in the prior year.

On an adjusted basis, net income was $17.1 million or $0.30 per share for the latest quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share. Analysts' estimates typically exclude special items.

Net interest income after provision for credit losses was $64.22 million compared to $79.41 million in the prior year.

Total noninterest income was $50.78 million compared to $5.68 million in the prior year.

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