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Banc of California, Inc. - $BANC STOCK NEWS

Welcome to our dedicated page for Banc of California news (Ticker: $BANC), a resource for investors and traders seeking the latest updates and insights on Banc of California stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Banc of California's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Banc of California's position in the market.

Rhea-AI Summary

Banc of California (NYSE: BANC) has launched Build@Banc, a new service aimed at providing tailored banking solutions for seed and early-stage startups. The initiative offers guidance and access to a network of investors and advisers, supporting companies from inception to IPO. The bank, known for its tech-forward approach, provides various products including deposit accounts, loans, and payment processing solutions through Deepstack Technologies. Banc of California is based in Los Angeles and is the third-largest bank by assets in California. The Venture Banking Group has supported the innovation economy since 2005, offering venture debt and cash management solutions nationwide.

Rhea-AI Impact
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End-of-Day
-4.04%
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none
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Rhea-AI Summary

Banc of California (NYSE: BANC) has announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share on its common stock, payable on July 1, 2024, to shareholders of record as of June 14, 2024.

Additionally, a quarterly dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F, will be paid on June 3, 2024, to shareholders of record as of May 23, 2024. The Series F shares trade under the symbol Banc/PF.

The company also offers a Dividend Reinvestment Plan (DRIP), providing a 3% discount on market price for common shareholders.

Rhea-AI Impact
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End-of-Day
3.48%
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dividends
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Rhea-AI Summary

Banc of California, a subsidiary of Banc of California, Inc. (NYSE: BANC), appoints Ann DeVries as Senior Vice President, leading investor relations strategy and finance team. DeVries brings extensive experience from Bakkt Holdings Inc. and JPMorgan Chase & Co. to enhance investor outreach and financial planning.

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Rhea-AI Sentiment
End-of-Day
0.47%
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management
Rhea-AI Summary
Banc of California, Inc. reported improved profitability and a strengthened balance sheet in the first quarter of 2024. Net earnings available to common stockholders increased to $28.2 million, or $0.17 per diluted common share. The company saw a significant increase in net interest income and a decrease in noninterest expenses. Highlights include a 58% increase in net interest income, a 109 basis point increase in net interest margin, and a decrease in noninterest expenses by over $41 million. The company also reported strong capital ratios well above regulatory thresholds, with a total risk-based capital ratio of 16.43% and a CET1 ratio of 10.12%. Book value per share increased to $17.18, and tangible book value per share increased to $15.07.
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End-of-Day
-1.76%
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Rhea-AI Summary
Banc of California promotes key executives to lead community banking operations in California and Colorado, enhancing relationship-based lending and treasury management solutions.
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0.4%
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Rhea-AI Summary
Banc of California, Inc. (BANC) will release its 2024 first quarter financial results on April 23, 2024. A conference call will be held at 10:00 a.m. PT on the same day for discussing earnings. Interested parties can join the call or access the live webcast on the Company's investor relations website.
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Rhea-AI Sentiment
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0.21%
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Rhea-AI Summary
Banc of California appoints Greg Smith as senior vice president of Digital Strategy to enhance client-centric digital experience, focusing on online and mobile banking tools. Smith's expertise from City National Bank and Transamerica adds value to the bank's tech-forward approach, aiming to strengthen client relationships and market position.
Rhea-AI Impact
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-0.87%
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Banc of California, Inc. (NYSE: BANC) achieves a perfect score in the small-size company category, being recognized as one of America’s Greatest Workplaces for Women 2024 by Newsweek and Plant-A Insights Group. The company's commitment to diversity, inclusion, and support for women in the workforce is highlighted, with Banc of California earning five out of five stars, making it one of only four companies in the banks category to receive this top rating.
Rhea-AI Impact
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End-of-Day
-1.39%
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Rhea-AI Summary
Banc of California, Inc. (BANC) appoints Michael David as the executive vice president for Technology Banking-West, enhancing its venture banking capabilities. With over 25 years of experience in banking and finance, David aims to expand the bank's venture banking relationships and drive new technology business opportunities on the West Coast and beyond.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.81%
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none
Rhea-AI Summary
Banc of California, Inc. (BANC) declares quarterly cash dividends for common stock and preferred stock. The common stock dividend is $0.10 per share, payable on April 1, 2024, to stockholders of record as of March 15, 2024. The preferred stock dividend is $0.4845 per depositary share, payable on March 1, 2024, to stockholders of record as of February 20, 2024. The company also offers a Dividend Reinvestment Plan (DRIP) at a 3% discount for common stockholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.16%
Tags
dividends
Banc of California, Inc.

NYSE:BANC

BANC Rankings

BANC Stock Data

2.31B
139.94M
1.07%
88.84%
5.83%
Commercial Banking
Finance and Insurance
Link
United States of America
SANTA ANA

About BANC

since 1941, banc of california has provided full-service banking to private businesses, entrepreneurs and homeowners throughout california. today, with over $7 billion in assets and over 100 banking and lending locations, we are large enough to meet your banking needs yet small enough to serve you well. banc of california’s strong balance sheet, deep community roots and commitment to lasting and meaningful relationships are the foundation for its long record of success. banc of california is committed to building the top full-service bank serving california’s diverse private businesses, entrepreneurs, and homeowners with innovative banking products and exceptional service that simplifies financial lives and benefits the communities where our clients live and work. our simple and fair approach to full-service banking is designed to eliminate the complexity of everyday banking and save you time so that you can focus on what’s important to you–growing your business, looking after fa