Banc of California reports Q1 EPS 39c, consensus 38c

Reports Q revenue $286.9M, consensus $290.57M. Net interest margin expanded 4 basis points to 3.24% compared to fourth quarter 2025, driven by an 11 basis point decline in deposit costs. Report growth in book value per share to $19.80 and tangible book value per share to $17.77, up 9% and 10% year over year, respectively. Jared Wolff, Chairman and CEO of Banc of California (BANC), commented, “Our first quarter results reflect disciplined execution and continued strength in our core earnings drivers. We delivered positive operating leverage and significant earnings growth year over year, supported by net interest margin expansion, disciplined expense management, and continued progress in improving the mix and earnings power of the balance sheet. Supported by our healthy capital and liquidity position, we also efficiently deployed capital through opportunistic share repurchases and announced the redemption of subordinated debt. As we look ahead, we are well positioned for continued earnings growth, supported by strong pipelines, embedded asset repricing opportunities, and our attractive market position.”