Earnings rise at Banc of California (NYSE: BANC) as margin widens

Q: What happened to Banc of California’s net interest margin and funding costs in Q1 2026?

Net interest margin improved to 3.24% in Q1 2026 from 3.08% a year earlier. The average total cost of deposits decreased to 1.78% , and the average total cost of funds fell to 2.10% , reflecting lower deposit costs after federal funds rate cuts and balance sheet remixing.

Q: How strong are Banc of California’s capital ratios after Q1 2026?

At March 31, 2026 , the holding company reported an estimated 12.54% Tier 1 capital ratio and 10.18% common equity Tier 1 ratio . Book value per share was $19.80 and tangible book value per share was $17.77 , both up solidly year over year.

Q: How large was Banc of California’s allowance for credit losses at the end of Q1 2026?

The allowance for credit losses on loans totaled $276.5 million at March 31, 2026 , equal to 1.12% of total loans and leases held for investment. Including credit-linked notes and unearned credit marks, the economic coverage ratio was 1.60% .

Q: Did Banc of California repurchase shares or debt in Q1 2026?

Yes. Banc of California repurchased 1,709,935 common and equivalent shares for $31.9 million at an average price of $18.68. The company extended its $300 million stock repurchase program through March 2027 and announced plans to redeem $385 million of subordinated debt.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Banc of California, Inc. reported first quarter 2026 net earnings available to common and equivalent stockholders of $62.0 million, or $0.39 diluted EPS, up 50% from $0.26 a year earlier. Total revenue was $286.9 million, up 8% year over year, driving a 28% increase in pre-tax pre-provision income to $105.6 million.

Net interest margin expanded to 3.24% from 3.08% a year ago as the average total cost of deposits fell to 1.78%. Average total loans grew, with first quarter loan production and disbursements of $2.1 billion at a 6.65% weighted average rate.

Total noninterest expense declined 1% year over year to $181.4 million, improving the efficiency ratio to 61.00%. Book value per share rose to $19.80 and tangible book value per share to $17.77, both up high single to low double digits year over year.

Asset quality weakened somewhat: total delinquent loans and leases increased to $345.1 million, or 1.39% of loans and leases held for investment, and nonperforming loans and leases rose to $185.7 million. The allowance for credit losses on loans was $276.5 million, equal to 1.12% of total loans and leases, while the economic coverage ratio was 1.60%.

The company repurchased 1.7 million common and equivalent shares for $31.9 million and extended its $300 million stock repurchase program through March 2027. It also announced plans to redeem $385 million of subordinated debt. Regulatory capital ratios remained well above “well-capitalized” thresholds, with an estimated 12.54% Tier 1 capital ratio and 10.18% common equity Tier 1 ratio at the holding company level, supported by total assets of $34.7 billion and liquidity of $14.2 billion.

Positive

Diluted EPS rose 50% year over year to $0.39, with total revenue up 8% and pre-tax pre-provision income up 28%, indicating stronger core earnings despite a challenging rate environment.
Net interest margin expanded to 3.24% from 3.08% a year earlier as the average total cost of deposits fell to 1.78%, supporting profitability and showing effective deposit repricing.
Capital and liquidity remained strong, with an estimated 10.18% common equity Tier 1 ratio, 12.54% Tier 1 ratio, and total available liquidity of $14.2 billion, while book value and tangible book value per share grew 9–10% year over year.

Negative

Credit quality weakened, as total delinquent loans and leases increased to $345.1 million, or 1.39% of loans and leases held for investment, from 0.80% at year-end, and nonperforming loans and leases rose to $185.7 million.
Net charge-offs accelerated to 0.23% of average loans and leases (annualized), up from 0.04% in the prior quarter, and the allowance coverage of nonperforming loans declined from 176% to 149%, signaling higher realized and potential losses.

Insights

Q1 shows solid earnings growth and margin strength, offset by weaker credit metrics.

Banc of California delivered higher profitability in Q1 2026, with total revenue of $286.9 million up 8% year over year and pre-tax pre-provision income rising 28% to $105.6 million. Diluted EPS reached $0.39, a 50% increase from Q1 2025, helped by improved net interest margin of 3.24% and disciplined noninterest expense, which declined 1% year over year.

Funding costs trended favorably. The average total cost of deposits decreased to 1.78%, and the average total cost of funds fell to 2.10%. First quarter loan production and disbursements of $2.1 billion at a 6.65% weighted average rate, combined with remixing away from lower-yielding loans, supported earnings despite recent federal funds rate cuts. Tangible book value per share increased to $17.77, up 10% year over year, even after $31.9 million of share repurchases.

Credit is the main pressure point. Total delinquent loans and leases rose to $345.1 million, or 1.39% of loans and leases held for investment, from 0.80% at year-end, and nonperforming loans and leases increased to $185.7 million. Net charge-offs annualized at 0.23% of average loans and leases, up from 0.04% in Q4 2025. Still, the allowance for credit losses ratio stayed at 1.12%, and the economic coverage ratio, which includes $105.0 million of credit-linked note protection and unearned credit marks, was 1.60%. Capital ratios remained strong, with holding company common equity Tier 1 at 10.18% on March 31, 2026, leaving capacity to redeem $385 million of subordinated debt and continue repurchases if conditions support it.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Diluted EPS: $0.39 per share Total revenue: $286.9 million Net interest margin: 3.24% +5 more

8 metrics

Diluted EPS $0.39 per share First quarter 2026, up from $0.26 in Q1 2025 (50% increase)

Total revenue $286.9 million First quarter 2026, up 8% year over year

Net interest margin 3.24% First quarter 2026, up from 3.20% in Q4 2025 and 3.08% in Q1 2025

Pre-tax pre-provision income $105.6 million First quarter 2026, up 28% from $82.4 million in Q1 2025

Total delinquent loans and leases $345.1 million March 31, 2026; 1.39% of loans and leases held for investment vs 0.80% at December 31, 2025

Allowance for credit losses ratio 1.12% Allowance for credit losses to total loans and leases HFI at March 31, 2026

CET1 capital ratio 10.18% Holding company common equity Tier 1 ratio at March 31, 2026 (preliminary)

Share repurchases 1,709,935 shares / $31.9 million Common and equivalent stock repurchased in Q1 2026 at $18.68 average price

Key Terms

net interest margin, pre-tax pre-provision income, allowance for credit losses, common equity tier 1 capital ratio, +2 more

6 terms

net interest margin financial

"Net interest margin was 3.24% for the first quarter, up 4 basis points from 3.20% for the fourth quarter"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

pre-tax pre-provision income financial

"Total revenue of $286.9 million, up 8% year over year, with pre-tax pre-provision income(1) of $105.6 million, up 28% year over year."

Pre-tax pre-provision income is a banking measure of how much a lender earns from its normal operations before subtracting taxes and the money set aside to cover bad loans. Think of it as a car’s engine power measured before adding safety equipment and fuel costs: it shows the underlying earning strength and how much cushion the bank has to absorb future losses or support dividends. Investors use it to compare core profitability across banks and to judge resilience during credit stress.

allowance for credit losses financial

"The allowance for credit losses - loans, which includes the reserve for unfunded loan commitments, totaled $276.5 million, or 1.12% of total loans and leases"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

common equity tier 1 capital ratio financial

"Common equity tier 1 capital ratio | 10.18 % | | 10.01 % | | 10.14 %"

A bank’s common equity tier 1 (CET1) capital ratio measures the size of its strongest loss-absorbing capital—mainly common shares and retained earnings—relative to the bank’s assets after adjusting those assets for how risky they are (riskier loans count more). Think of it as the safety cushion compared with the weight of risky business; investors use it to judge a bank’s ability to survive losses, meet rules, and sustain dividends or growth.

economic coverage ratio financial

"We refer to this adjusted ACL ratio as our economic coverage ratio(1), which equaled 1.60% of total loans and leases at March 31, 2026"

credit-linked notes financial

"loss coverage from the credit-linked notes, pursuant to which the bank sold the first 5% of any losses on $2.1 billion of single-family residential mortgage loans"

Earnings Snapshot

Total revenue: $286.9 million

Q1 2026

Total revenue $286.9 million +8% YoY

Net earnings available to common and equivalent stockholders $62.0 million up from $43.6 million in Q1 2025

Diluted EPS $0.39 +50% YoY from $0.26

Pre-tax pre-provision income $105.6 million +28% YoY

Net interest margin 3.24% up from 3.08% in Q1 2025

Understanding 8-K Material Events →

04/22/2026 - 04:13 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 22, 2026

BANC OF CALIFORNIA, INC.

(Exact name of registrant as specified in its charter)


Maryland	001-35522	04-3639825
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

11611 San Vicente Boulevard, Suite 500, Los Angeles, California 90049

(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (855) 361-2262

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of

the following provisions (see General Instruction A.2.):


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	BANC	New York Stock Exchange
Depositary Shares, each representing a 1/40th interest in a share of 7.75% fixed rate reset non-cumulative perpetual preferred stock, Series F	BANC/PF	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of

this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with

any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Conditions.

On April 22, 2026, Banc of California, Inc. (the “Company”) issued a press release announcing financial results for

the first quarter ended March 31, 2026.

A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.

Item 7.01 Regulation FD Disclosure.

The Company will host a conference call to discuss its first quarter 2026 results at 10:00 A.M. Pacific Time on

Thursday, April 23, 2026. Interested parties may attend the conference call by dialing (888) 317-6003 and

referencing event code 5670833. A live audio webcast will be available through the webcast link to be posted on the

Company’s Investor Relations website at www.bancofcal.com/investor, in addition to the slide presentation for

investor review prior to the call. A copy of the presentation materials is furnished herewith as Exhibit 99.2 and is

incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1Banc of California, Inc. Press Release dated April 22, 2026

99.2Banc of California, Inc. Earnings Conference Call Presentation Materials

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be

signed on its behalf by the undersigned hereunto duly authorized.

BANC OF CALIFORNIA, INC.

/s/ Joseph Kauder

Joseph Kauder

Executive Vice President and

Chief Financial Officer

Date: April 22, 2026

Banc of California, Inc. Reports First Quarter Diluted Earnings per Share of $0.39, Up 50% Year over Year;

Net Interest Margin Expands to 3.24%; Positive Operating Leverage Continues

Company Release – 4/22/2026

Quarter Highlights

$0.39

Earnings Per Share

$19.80

Book Value Per Share

$17.77

Tangible Book Value

Per Share(1)

3.24%

Net Interest Margin

Loan Average Annualized Growth

Noninterest-bearing Deposit Average Annualized Growth

LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (“Banc of California” or the “Company”), the parent company of wholly-owned subsidiary Banc of California (the “Bank”), today reported financial results for the first quarter ended March 31, 2026. The Company reported net earnings available to common and equivalent stockholders of $62.0 million, or $0.39 per diluted common share, for the first quarter of 2026, compared to $67.4 million, or $0.42 per diluted common share for the fourth quarter of 2025.

During the quarter, the Company extended its existing $300 million stock repurchase program through March 2027 and announced plans to redeem $385 million of subordinated debt, reflecting continued capital flexibility and commitment to creating value for our shareholders.

Jared Wolff, Chairman & CEO of Banc of California, 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.”

First Quarter 2026 Financial Highlights:

•Total revenue of $286.9 million, up 8% year over year, with pre-tax pre-provision income(1) of $105.6 million, up 28% year over year.

•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.

•Average total deposits increased by $103.4 million, and average noninterest-bearing deposits grew $81.2 million to 28.9% of average total deposits.

•First quarter loan production and disbursements totaled $2.1 billion, with a weighted average interest rate on production of 6.65%, supporting our balance sheet remixing and providing embedded earnings upside as higher-rate production replaces lower-yielding fixed-rate and hybrid loans.

•Average total loans increased $267.5 million.

•Total noninterest expense of $181.4 million, down 1% year over year.

•Maintained allowance for credit losses coverage of 1.12% of total loans held for investment.

•Repurchased $31.9 million of common stock and common equivalent stock at a weighted average price per share of $18.68.

•Growth in book value per share to $19.80 and tangible book value per share(1) to $17.77, up 9% and 10% year over year, respectively.

•Healthy capital ratios(2) well above the regulatory thresholds for "well capitalized" banks, including an estimated 12.54% Tier 1 capital ratio and 10.18% CET 1 capital ratio.

(1)Non-GAAP measure; refer to section 'Non-GAAP Measures'

(2)Capital ratios for March 31, 2026 are preliminary

INCOME STATEMENT HIGHLIGHTS


	Three Months Ended
	March 31,		December 31,		March 31,
Summary Income Statement	2026		2025		2025
	(In thousands)
Total interest income	$	407,442	$	416,948	$	406,655
Total interest expense	155,825		165,586		174,291
Net interest income	251,617		251,362		232,364
Provision for credit losses	9,800		12,500		9,300
Gain on sale of loans	7		18		211

Other noninterest income	35,321		41,553		33,439
Total noninterest income	35,328		41,571		33,650
Total revenue	286,945		292,933		266,014



Total noninterest expense	181,391		180,644		183,653
Earnings before income taxes	95,754		99,789		73,061
Income tax expense	23,802		22,398		19,493
Net earnings	71,952		77,391		53,568
Preferred stock dividends	9,947		9,947		9,947
Net earnings available to common
and equivalent stockholders	$	62,005	$	67,444	$	43,621

Diluted earnings per share	$	0.39	$	0.42	$	0.26

Net Interest Income and Margin

First Quarter of 2026 Compared to Fourth Quarter of 2025

Net interest income increased by $0.3 million to $251.6 million for the first quarter, up from $251.4 million in the fourth quarter. This increase was primarily driven by a $9.7 million decrease in interest expense on deposits, reflecting lower interest rates due to the full quarter impact of the federal funds rate cuts of 50 basis points in the fourth quarter and two fewer days in the quarter. Additionally, interest income from investment securities rose by $2.3 million, supported by higher average balances from security purchases and a Federal Home Loan Bank (FHLB) special dividend. These positive factors were offset partially by a $9.3 million decrease in interest income from loans, mainly due to two fewer days in the quarter and lower average yields resulting from the federal funds rate cuts. Interest income from deposits in financial institutions also declined by $2.5 million, driven by lower average balances and interest rates.

Net interest margin was 3.24% for the first quarter, up 4 basis points from 3.20% for the fourth quarter primarily driven by lower average total cost of funds, offset partially by lower average yield on interest-earning assets. The average total cost of funds decreased to 2.10% from 2.20%, as a result of an 11 basis point decrease in the average total cost of deposits to 1.78%, and an 11 basis point decrease in the average cost of borrowings to 4.63%. The average yield on interest-earning assets decreased to 5.25% from 5.31%, as a result of a 9 basis point decrease in the average yield on loans and leases to 5.74%. Declines in both funding costs and asset yield reflect the full quarter impact of rate cuts that occurred in fourth quarter.

Average total deposits increased by $103.4 million, with a $81.2 million increase in average noninterest-bearing deposits and $22.2 million increase in average interest-bearing deposits. Average noninterest-bearing deposits represented 28.9% of average total deposits in the first quarter, up from 28.7% in the fourth quarter.


	Three Months Ended												Increase (Decrease)
	March 31, 2026						December 31, 2025							QoQ
Summary			Interest		Average				Interest		Average						Average
Average Balance	Average		Income/		Yield/		Average		Income/		Yield/				Average		Yield/
and Yield/Cost Data	Balance		Expense		Cost		Balance		Expense		Cost				Balance		Cost
	(Dollars in thousands)
Assets:
Loans and leases(1)	$	24,710,609	$	349,943	5.74	%	$	24,443,089	$	359,268	5.83	%			$	267,520	(0.09)	%
Investment securities	5,018,002		41,873		3.38	%	4,891,281		39,557		3.21	%			126,721		0.17	%
Deposits in financial institutions	1,742,657		15,626		3.64	%	1,834,773		18,123		3.92	%			(92,116)		(0.28)	%
Total interest-earning assets	$	31,471,268	$	407,442	5.25	%	$	31,169,143	$	416,948	5.31	%			$	302,125	(0.06)	%




Liabilities:




Noninterest-bearing demand deposits	$	7,890,489					$	7,809,326							$	81,163
Total interest-bearing deposits	19,429,112		$	120,233	2.51	%	19,406,865		$	129,896	2.66	%			22,247		(0.15)	%


Total deposits	$	27,319,601	120,233		1.78	%	$	27,216,191	129,896		1.89	%			$	103,410	(0.11)	%

Total interest-bearing liabilities	$	22,148,512	$	155,825	2.85	%	$	22,020,144	$	165,586	2.98	%			$	128,368	(0.13)	%








Net interest income(1)			$	251,617					$	251,362

Net interest margin					3.24	%					3.20	%					0.04	%


Total funds(2)	$	30,039,001	$	155,825	2.10	%	$	29,829,470	$	165,586	2.20	%			$	209,531	(0.10)	%

______________

(1) Includes net loan discount accretion of $12.2 million and $12.7 million for the three months ended March 31, 2026 and December 31, 2025, respectively.

(2) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense divided by average total funds.

Provision For Credit Losses

First Quarter of 2026 Compared to Fourth Quarter of 2025

The provision for credit losses was $9.8 million for the first quarter compared to $12.5 million for the fourth quarter.

The first quarter provision for loan losses and unfunded loan commitments was primarily driven by net charge off activity and changes in loan risk ratings including specific reserves, offset partially by lower balances in the held for investment ("HFI") portfolio and lower qualitative reserves.

The fourth quarter provision for loan losses and unfunded loan commitments was primarily driven by changes in loan risk ratings including specific reserves, and higher loan balances and unfunded commitments, offset partially by lower qualitative reserves.

Noninterest Income

First Quarter of 2026 Compared to Fourth Quarter of 2025

Noninterest income decreased by $6.2 million to $35.3 million for the first quarter from $41.6 million for the fourth quarter due mainly to a $7.9 million decrease in leased equipment income, offset partially by the increase of $1.5 million in commission and fees and $1.1 million in other income. The decrease in leased equipment income was due mainly to higher gains on early lease terminations in the fourth quarter.

Noninterest Expense

First Quarter of 2026 Compared to Fourth Quarter of 2025

Noninterest expense increased by $0.7 million to $181.4 million for the first quarter from $180.6 million for the fourth quarter due mainly to a $5.2 million increase in compensation expense, offset partially by the decrease of $2.5 million in other professional services and $1.1 million in customer related expense. The increase in compensation expense was mainly driven by seasonality, reflecting higher incentive compensation and annual reset of payroll related taxes and benefits in the first quarter. The decline in other professional services was driven by lower project spend, while customer related expenses decreased due to lower earnings credit rate payments following the federal funds rate cuts in the fourth quarter.

Income Taxes

First Quarter of 2026 Compared to Fourth Quarter of 2025

Income tax expense of $23.8 million was recorded for the first quarter resulting in an effective tax rate of 24.9% compared to income tax expense of $22.4 million and an effective tax rate of 22.4% for the fourth quarter.

BALANCE SHEET HIGHLIGHTS


	March 31,		December 31,		March 31,		Increase (Decrease)
Selected Balance Sheet Items	2026		2025		2025		QoQ		YoY
	(In thousands)
Cash and cash equivalents	$	2,217,269	$	2,307,965	$	2,343,889	$	(90,696)	$	(126,620)
Securities available-for-sale	2,656,332		2,454,058		2,334,058		202,274		322,274
Securities held-to-maturity	2,313,548		2,308,636		2,311,912		4,912		1,636
Loans held for sale	259,049		182,936		25,797		76,113		233,252
Loans and leases held for investment	24,780,347		25,032,679		24,126,527		(252,332)		653,820
Total loans and leases	25,039,396		25,215,615		24,152,324		(176,219)		887,072
Total assets	34,724,241		34,797,442		33,779,918		(73,201)		944,323

Noninterest-bearing deposits	$	7,797,542	$	7,822,787	$	7,593,950	$	(25,245)	$	203,592
Total deposits	27,322,134		27,843,357		27,193,191		(521,223)		128,943
Borrowings	2,551,250		2,063,819		1,670,782		487,431		880,468
Total liabilities	31,170,915		31,256,165		30,258,262		(85,250)		912,653
Total stockholders' equity	3,553,326		3,541,277		3,521,656		12,049		31,670

Securities

Securities available-for-sale ("AFS") increased by $202.3 million during the first quarter to $2.7 billion at March 31, 2026. The increase was primarily driven by $343.4 million of purchases, offset partially by $119.8 million of principal paydowns, $10.8 million of maturities, $9.2 million decrease in the fair value of AFS securities, and $1.3 million of net amortization. As of March 31, 2026, AFS securities had aggregate unrealized net after-tax losses in accumulated other comprehensive income (loss) ("AOCI") of $143.3 million, up from $136.6 million at December 31, 2025, driven by higher interest rates.

The balance of securities held-to-maturity ("HTM") increased by $4.9 million in the first quarter to $2.3 billion at March 31, 2026. As of March 31, 2026, HTM securities had aggregate unrealized net after-tax losses in AOCI of $127.2 million remaining from the balance established at the time of transfer from AFS.

Loans and Leases

The following table sets forth the composition, by loan category, of our loan and lease portfolio HFI as of the dates indicated:


	March 31,			December 31,			September 30,			June 30,			March 31,
	2026			2025			2025			2025			2025
	(Dollars in thousands)
Composition of Loans and Leases
Real estate mortgage:
Commercial	$	4,093,386		$	4,314,637		$	4,292,625		$	4,369,401		$	4,489,543
Multi-family	5,955,102			6,089,417			6,124,673			6,280,791			6,216,084
Other residential	3,458,410			3,346,733			3,162,564			3,157,616			2,787,031
Total real estate mortgage	13,506,898			13,750,787			13,579,862			13,807,808			13,492,658
Real estate construction and land:
Commercial	364,575			379,387			395,150			381,449			733,684
Residential	1,527,754			1,568,240			1,759,676			1,920,642			2,127,354
Total real estate construction and land	1,892,329			1,947,627			2,154,826			2,302,091			2,861,038
Total real estate	15,399,227			15,698,414			15,734,688			16,109,899			16,353,696
Commercial:
Asset-based	3,209,338			2,951,010			2,742,519			2,462,351			2,305,325
Venture capital	2,322,261			2,222,097			1,907,601			2,002,601			1,733,074
Other commercial	3,501,388			3,804,099			3,356,537			3,288,305			3,340,400
Total commercial	9,032,987			8,977,206			8,006,657			7,753,257			7,378,799
Consumer	348,133			357,059			369,297			382,737			394,032

Total loans and leases HFI	$	24,780,347		$	25,032,679		$	24,110,642		$	24,245,893		$	24,126,527

Total unfunded loan commitments	$	5,549,325		$	5,433,357		$	4,822,917		$	4,673,596		$	4,858,960


Composition as % of Total Loans and Leases
Real estate mortgage:
Commercial	17		%	17		%	18		%	18		%	19		%
Multi-family	24		%	24		%	25		%	26		%	26		%
Other residential	14		%	14		%	13		%	13		%	11		%
Total real estate mortgage	55		%	55		%	56		%	57		%	56		%
Real estate construction and land:
Commercial	2		%	2		%	2		%	1		%	3		%
Residential	6		%	6		%	7		%	8		%	9		%
Total real estate construction and land	8		%	8		%	9		%	9		%	12		%
Total real estate	63		%	63		%	65		%	66		%	68		%
Commercial:
Asset-based	13		%	12		%	11		%	10		%	9		%
Venture capital	9		%	9		%	8		%	8		%	7		%
Other commercial	14		%	15		%	14		%	14		%	14		%
Total commercial	36		%	36		%	33		%	32		%	30		%
Consumer	1		%	1		%	2		%	2		%	2		%

Total loans and leases HFI	100		%	100		%	100		%	100		%	100		%

Total loans and leases HFI decreased by $252.3 million in the first quarter and totaled $24.8 billion at March 31, 2026. The decrease in loans and leases HFI was due primarily to decreased balances in other commercial loans, commercial real estate mortgage loans, and multi-family real estate mortgage loans, offset partially by increases in asset-based loans, other residential real mortgage loans, and venture capital loans. Loan production and disbursements totaled $2.1 billion in the first quarter with a weighted average interest rate on production of 6.65%.

Total loans and leases held for sale ("HFS") increased by $76.1 million in the first quarter and totaled $259.0 million at March 31, 2026. The increase in loans HFS was primarily driven by a $72.1 million loan transfer during the first quarter that subsequently sold at par in April 2026.

Credit Quality


	March 31,			December 31,			September 30,			June 30,			March 31,
Asset Quality Information and Ratios	2026			2025			2025			2025			2025
	(Dollars in thousands)
Delinquent loans and leases held for investment:
30 to 89 days delinquent	$	263,530		$	108,303		$	56,416		$	53,900		$	100,664
90+ days delinquent	81,599			92,655			104,952			95,566			99,976
Total delinquent loans and leases	$	345,129		$	200,958		$	161,368		$	149,466		$	200,640


Total delinquent loans and leases to loans and leases HFI	1.39		%	0.80		%	0.67		%	0.62		%	0.83		%


Nonperforming assets, excluding loans held for sale:
Nonaccrual loans and leases	$	185,734		$	159,168		$	174,541		$	167,516		$	213,480

90+ days delinquent loans and still accruing	—			—			—			—			—

Total nonperforming loans and leases ("NPLs")	185,734			159,168			174,541			167,516			213,480
Foreclosed assets, net	18,055			17,115			4,790			7,806			5,474
Total nonperforming assets ("NPAs")	$	203,789		$	176,283		$	179,331		$	175,322		$	218,954


Classified loans and leases HFI	$	842,834		$	800,330		$	763,582		$	656,556		$	764,723

Special mention loans and leases HFI	688,659			458,683			505,979			661,568			937,014

Criticized loans and leases HFI	$	1,531,493		$	1,259,013		$	1,269,561		$	1,318,124		$	1,701,737

Allowance for loan and lease losses	$	241,600		$	245,612		$	240,501		$	229,344		$	234,986

Allowance for loan and lease losses to NPLs	130.08		%	154.31		%	137.79		%	136.91		%	110.07		%

NPLs to loans and leases HFI	0.75		%	0.64		%	0.72		%	0.69		%	0.88		%
NPAs to total assets	0.59		%	0.51		%	0.53		%	0.51		%	0.65		%

Classified loans and leases to loans and leases HFI	3.40		%	3.20		%	3.17		%	2.71		%	3.17		%

Special mention loans and leases to loans and leases HFI	2.78		%	1.83		%	2.10		%	2.73		%	3.88		%

Asset quality metrics primarily reflect migration in a limited number of loans within a few larger relationships during the quarter. These were largely isolated situations, reflect proactive risk management actions, and the credits are supported by strong collateral and defined resolution paths.

At March 31, 2026, total delinquent loans and leases were $345.1 million, compared to $201.0 million at December 31, 2025. The 30 to 89 days delinquent category increased by $114.1 million in residential real estate construction and land loans, $32.9 million in commercial real estate construction and land loans, and $7.0 million in other residential real estate mortgage loans. In the 90 or more days delinquent category, there were decreases of $5.4 million in commercial real estate mortgage loans and $5.3 million in other residential real estate mortgage loans.

At March 31, 2026, nonperforming loans and leases were $185.7 million, compared to $159.2 million at December 31, 2025. During the first quarter, nonperforming loans and leases increased by $26.6 million due to additions of $54.6 million, offset partially by payoffs and paydowns of $20.0 million, charge-offs of $5.2 million, and transfers to accrual status of $2.8 million.

At March 31, 2026, nonperforming assets were $203.8 million, or 0.59% of total assets, compared to $176.3 million, or 0.51% of total assets, as of December 31, 2025. At March 31, 2026, nonperforming assets included $18.1 million of foreclosed assets, consisting primarily of single-family residences.

Allowance for Credit Losses – Loans


	Three Months Ended
	March 31,			December 31,			March 31,
Allowance for Credit Losses - Loans	2026			2025			2025
	(Dollars in thousands)

Allowance for loan and lease losses ("ALLL"):
Balance at beginning of period	$	245,612		$	240,501		$	239,360
Charge-offs	(16,097)			(5,541)			(16,551)
Recoveries	2,285			2,852			2,477
Net charge-offs	(13,812)			(2,689)			(14,074)
Provision for loan losses	9,800			7,800			9,700
Balance at end of period	$	241,600		$	245,612		$	234,986


Reserve for unfunded loan commitments ("RUC"):
Balance at beginning of period	$	34,921		$	30,221		$	29,071
Provision for credit losses	—			4,700			500
Balance at end of period	$	34,921		$	34,921		$	29,571

Allowance for credit losses ("ACL") - Loans:

Balance at beginning of period	$	280,533		$	270,722		$	268,431
Charge-offs	(16,097)			(5,541)			(16,551)
Recoveries	2,285			2,852			2,477
Net charge-offs	(13,812)			(2,689)			(14,074)
Provision for credit losses	9,800			12,500			10,200
Balance at end of period	$	276,521		$	280,533		$	264,557

ALLL to loans and leases HFI	0.97		%	0.98		%	0.97		%

ACL to loans and leases HFI	1.12		%	1.12		%	1.10		%
ACL to NPLs	148.88		%	176.25		%	123.93		%
ACL to NPAs	135.69		%	159.14		%	120.83		%
Annualized net charge-offs
to average loans and leases	0.23		%	0.04		%	0.24		%

The allowance for credit losses - loans, which includes the reserve for unfunded loan commitments, totaled $276.5 million, or 1.12% of total loans and leases at March 31, 2026, compared to $280.5 million, or 1.12% of total loans and leases at December 31, 2025. The $4.0 million decrease in the allowance was driven by net charge-offs of $13.8 million, offset partially by the provision of $9.8 million.

Our ability to absorb credit losses is also bolstered by (i) $105.0 million of loss coverage from the credit-linked notes, pursuant to which the bank sold the first 5% of any losses on $2.1 billion of single-family residential mortgage loans in our portfolio; and (ii) unearned credit marks of $14.3 million on approximately $1.2 billion of purchased loans without credit deterioration. When the loss coverage from the credit-linked notes and unearned credit marks is added to our allowance for credit losses, this provides additional economic coverage on top of our ACL ratio. We refer to this adjusted ACL ratio as our economic coverage ratio(1), which equaled 1.60% of total loans and leases at March 31, 2026 compared to 1.62% at December 31, 2025.

The ACL coverage of nonperforming loans and leases was 149% at March 31, 2026 compared to 176% at December 31, 2025.

Net charge-offs were 0.23% of average loans and leases (annualized) for the first quarter, compared to net charge-offs of 0.04% for the fourth quarter.

(1) Non-GAAP measure; refer to section 'Non-GAAP Measures'

Deposits and Client Investment Funds

The following table sets forth the composition of our deposits at the dates indicated:


	March 31,			December 31,			September 30,			June 30,			March 31,
	2026			2025			2025			2025			2025
	(Dollars in thousands)
Composition of Deposits
Noninterest-bearing checking	$	7,797,542		$	7,822,787		$	7,603,748		$	7,441,116		$	7,593,950
Interest-bearing:
Checking	8,178,485			8,509,587			7,930,951			7,974,452			7,747,051
Money market	4,643,349			4,917,857			4,974,177			5,375,080			5,367,788
Savings	1,991,010			1,905,863			1,949,369			1,932,906			1,999,062
Time deposits:
Non-brokered	2,149,564			2,254,293			2,468,017			2,492,890			2,490,639
Brokered	2,562,184			2,432,970			2,258,503			2,311,989			1,994,701
Total time deposits	4,711,748			4,687,263			4,726,520			4,804,879			4,485,340
Total interest-bearing	19,524,592			20,020,570			19,581,017			20,087,317			19,599,241
Total deposits	$	27,322,134		$	27,843,357		$	27,184,765		$	27,528,433		$	27,193,191

Composition as % of
Total Deposits
Noninterest-bearing checking	29		%	28		%	28		%	27		%	28		%
Interest-bearing:
Checking	30		%	30		%	29		%	29		%	29		%
Money market	17		%	18		%	19		%	20		%	20		%
Savings	7		%	7		%	7		%	7		%	7		%
Time deposits:
Non-brokered	8		%	8		%	9		%	9		%	9		%
Brokered	9		%	9		%	8		%	8		%	7		%
Total time deposits	17		%	17		%	17		%	17		%	16		%
Total interest-bearing	71		%	72		%	72		%	73		%	72		%
Total deposits	100		%	100		%	100		%	100		%	100		%

Total deposits decreased by $521.2 million to $27.3 billion at March 31, 2026 from $27.8 billion at December 31, 2025, driven by a decrease in interest-bearing deposits of $496.0 million and a decrease in noninterest-bearing deposits of $25.2 million. Interest-bearing deposits decreased due mainly to lower balances in checking accounts of $331.1 million and lower money market accounts of $274.5 million, offset partially by higher savings accounts of $85.1 million and higher brokered and non-brokered time deposits of $24.5 million.

At March 31, 2026, noninterest-bearing checking deposits totaled $7.8 billion, or 29% of total deposits, compared to $7.8 billion, or 28% of total deposits, at December 31, 2025.

At March 31, 2026, uninsured and uncollateralized deposits totaled $7.8 billion, or 28% of total deposits, compared to $7.7 billion, or 28% of total deposits, at December 31, 2025.

In addition to deposit products, we also offer alternative, non-depository corporate treasury solutions for select clients to invest excess liquidity. These off-balance sheet client funds totaled $1.2 billion as of March 31, 2026 and December 31, 2025.

Borrowings

Borrowings increased by $487.4 million to $2.6 billion at March 31, 2026 from $2.1 billion at December 31, 2025, mainly due to higher overnight and short-term borrowings.

Equity

During the first quarter, total stockholders’ equity increased by $12.0 million to $3.6 billion and tangible common equity(1) increased by $18.2 million to $2.7 billion at March 31, 2026. The increase in total stockholders’ equity for the first quarter resulted primarily from net earnings of $72.0 million, offset partially by the repurchase of common stock of $31.9 million and common and preferred stock dividends of $29.1 million.

At March 31, 2026, book value per common share increased to $19.80 compared to $19.56 at December 31, 2025, and tangible book value per common share(1) increased to $17.77 compared to $17.51 at December 31, 2025.

For the three-month period ended March 31, 2026, the Company repurchased 1,709,935 shares of common and common equivalent stock at a weighted average price per share of $18.68, or $31.9 million in the aggregate. As of March 31, 2026, $82.6 million remained available under the current stock repurchase authorization, which expires in March 2027.

(1) Non-GAAP measure; refer to section 'Non-GAAP Measures'

CAPITAL AND LIQUIDITY

The following table sets forth our regulatory capital ratios as of the dates indicated:


	March 31,		December 31,		September 30,		June 30,		March 31,
	2026		2025		2025		2025		2025
Capital Ratios(1)
Banc of California, Inc.
Total risk-based capital ratio	16.55	%	16.31	%	16.69	%	16.37	%	16.93	%
Tier 1 risk-based capital ratio	12.54	%	12.34	%	12.56	%	12.34	%	12.86	%
Common equity tier 1 capital ratio	10.18	%	10.01	%	10.14	%	9.95	%	10.45	%
Tier 1 leverage ratio	9.97	%	9.99	%	9.77	%	9.74	%	10.19	%

Banc of California
Total risk-based capital ratio	15.97	%	15.61	%	15.94	%	15.65	%	16.22	%
Tier 1 risk-based capital ratio	13.50	%	13.15	%	13.42	%	13.21	%	13.74	%
Common equity tier 1 capital ratio	13.50	%	13.15	%	13.42	%	13.21	%	13.74	%
Tier 1 leverage ratio	10.73	%	10.65	%	10.44	%	10.42	%	10.88	%

______________

(1) March 31, 2026 capital ratios are preliminary.

At March 31, 2026, cash and cash equivalents totaled $2.2 billion, down $90.7 million from December 31, 2025.

Our immediately available cash and cash equivalents (excluding restricted cash) were $2.0 billion. Combined with total available borrowing capacity of $9.7 billion and unpledged AFS securities of $2.5 billion, total available liquidity was $14.2 billion at the end of the first quarter.

Conference Call

The Company will host a conference call to discuss its first quarter 2026 financial results at 10:00 a.m. Pacific Time (PT) on Thursday, April 23, 2026. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 5670833. 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. A replay of the call will be made available approximately one hour after the call has ended on the Company’s Investor Relations website at www.bancofcal.com/investor or by dialing (855) 669-9658 and referencing event code 7930561.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $34 billion in assets and the parent company of Banc of California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California is the largest independent bank headquartered in Los Angeles and the third largest bank headquartered in California and offers a broad range of loan and deposit products and services through 79 full-service branches located throughout California and in Denver, Colorado, and Durham, North Carolina, as well as through regional offices nationwide. The bank also provides full-service payment processing solutions to its clients and serves the Community Association Management industry nationwide with its technology-forward platform, SmartStreet™. The bank is committed to its local communities through the Banc of California Charitable Foundation, and by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. Member FDIC. For more information, please visit us at www.bancofcal.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, liquidity and capital ratios and other non-historical statements. Words or phrases such as “believe,” “will,” “should,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” “strategy,” or similar expressions are intended to identify these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by the Company with the Securities and Exchange Commission ("SEC"). The Company undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made, except as required by law.

Factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to: (i) changes in general economic conditions, either nationally or in our market areas, including the impact of tariffs, supply chain disruptions, and the risk of recession or an economic downturn; (ii) changes in the interest rate environment, including the recent and potential future changes in the FRB benchmark rate, which could adversely affect our revenue and expenses, the value of assets and obligations, the realization of deferred tax assets, the availability and cost of capital and liquidity, and the impacts of continuing or renewed inflation; (iii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of our underwriting practices and the risk of fraud, any of which may lead to increased loan delinquencies, losses, and non-performing assets, and may result in our allowance for credit losses not being adequate; (iv) fluctuations in the demand for loans, and fluctuations in commercial and residential real estate values in our market area; (v) the quality and composition of our securities portfolio; (vi) our ability to develop and maintain a strong core deposit base, including among our venture banking clients, or other low cost funding sources necessary to fund our activities particularly in a rising or high interest rate environment; (vii) the rapid withdrawal of a significant amount of demand deposits over a short period of time; (viii) the costs and effects of litigation; (ix) risks related to the Company’s acquisitions, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; and our inability to achieve expected revenues, cost savings, synergies, and other benefits; (x) results of examinations by regulatory authorities of the Company and the possibility that any such regulatory authority may, among other things, limit our business activities, restrict our ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase our allowance for credit losses, result in write-downs of asset values, restrict our ability or that of our bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xi) legislative or regulatory changes that adversely affect our business, including changes in tax laws and policies, accounting policies and practices, privacy laws, and regulatory capital or other rules; (xii) the risk that our enterprise risk management framework may not be effective in mitigating risk and reducing the potential for losses; (xiii) errors in estimates of the fair values of certain of our assets and liabilities, as well as the value of collateral supporting our loans, which may result in significant changes

in valuation or recoveries; (xiv) failures or security breaches with respect to the network, applications, vendors and computer systems on which we depend, including due to cybersecurity threats; (xv) our ability to attract and retain key members of our senior management team; (xvi) the effects of climate change, severe weather events, natural disasters such as earthquakes and wildfires, pandemics, epidemics and other public health crises, military activity (including the ongoing Iran war) or acts of terrorism, and other external events on our business; (xvii) the impact of bank failures or other adverse developments at other banks on general depositor and investor sentiment regarding the stability and liquidity of banks; (xviii) the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; (xix) our existing indebtedness, together with any future incurrence of additional indebtedness, could adversely affect our ability to raise additional capital and to meet our debt obligations; (xx) changes in market conditions or strategic balance sheet actions, which may result in realized losses on investment securities or other assets; and (xxi) other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services and the other risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and from time to time in other documents that we file with or furnish to the SEC.

Non-GAAP Financial Measures

Included in this press release are certain non-GAAP financial measures, such as tangible common equity, tangible book value per common share, return on average tangible common equity, pre-tax pre-provision income, efficiency ratio, and economic coverage ratio, designed to complement the financial information presented in accordance with U.S. GAAP because management believes such measures are useful to investors. These non-GAAP financial measures should be considered only as supplemental to, and not superior to, financial measures provided in accordance with GAAP. Please refer to the “Non-GAAP Measures” section of this release for additional detail including reconciliations of the non-GAAP financial measures included in this press release to the most directly comparable financial measures prepared in accordance with GAAP.


Investor Relations Inquiries:
Banc of California, Inc.
(855) 361-2262
Jared Wolff, (310) 424-1230
Joe Kauder, (310) 844-5224
Ann DeVries, (646) 376-7011

Media Contact:
Debora Vrana, Banc of California
(213) 533-3122
Deb.Vrana@bancofcal.com


BANC OF CALIFORNIA, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)

	March 31,		December 31,		September 30,		June 30,		March 31,
	2026		2025		2025		2025		2025
ASSETS:	(Dollars in thousands)
Cash and due from banks	$	214,120	$	181,103	$	205,364	$	222,210	$	215,591
Interest-earning deposits in financial
institutions	2,003,149		2,126,862		2,192,901		2,131,342		2,128,298
Total cash and cash equivalents	2,217,269		2,307,965		2,398,265		2,353,552		2,343,889

Securities available-for-sale	2,656,332		2,454,058		2,426,734		2,246,174		2,334,058
Securities held-to-maturity	2,313,548		2,308,636		2,303,657		2,316,725		2,311,912
FRB and FHLB stock	170,342		160,442		159,337		162,243		155,330
Total investment securities	5,140,222		4,923,136		4,889,728		4,725,142		4,801,300

Loans held for sale	259,049		182,936		211,454		465,571		25,797

Loans and leases held for investment	24,780,347		25,032,679		24,110,642		24,245,893		24,126,527
Allowance for loan and lease losses	(241,600)		(245,612)		(240,501)		(229,344)		(234,986)
Total loans and leases held for investment, net	24,538,747		24,787,067		23,870,141		24,016,549		23,891,541


Equipment leased to others under operating leases	223,558		238,232		280,872		288,692		295,032
Premises and equipment, net	146,316		146,698		132,766		138,032		140,347
Bank owned life insurance	352,707		350,083		348,051		346,142		342,810
Goodwill	214,521		214,521		214,521		214,521		214,521
Intangible assets, net	99,091		105,287		111,923		118,930		125,937
Deferred tax asset, net	653,481		656,755		672,159		691,535		702,323
Other assets	879,280		884,762		883,085		891,787		896,421
Total assets	$	34,724,241	$	34,797,442	$	34,012,965	$	34,250,453	$	33,779,918

LIABILITIES:
Noninterest-bearing deposits	$	7,797,542	$	7,822,787	$	7,603,748	$	7,441,116	$	7,593,950
Interest-bearing deposits	19,524,592		20,020,570		19,581,017		20,087,317		19,599,241
Total deposits	27,322,134		27,843,357		27,184,765		27,528,433		27,193,191
Borrowings	2,551,250		2,063,819		2,005,022		1,917,180		1,670,782
Subordinated debt	954,072		952,740		950,888		949,213		944,908

Accrued interest payable and other liabilities	343,459		396,249		405,551		428,784		449,381
Total liabilities	31,170,915		31,256,165		30,546,226		30,823,610		30,258,262

STOCKHOLDERS' EQUITY:
Preferred stock	498,516		498,516		498,516		498,516		498,516
Common stock	1,538		1,500		1,509		1,474		1,561
Class B non-voting common stock	5		5		5		5		5
Non-voting common stock equivalents	—		50		41		98		98
Additional paid-in-capital	3,501,213		3,552,483		3,563,145		3,609,109		3,732,376
Retained deficit	(180,011)		(242,016)		(309,460)		(369,142)		(387,580)

Accumulated other comprehensive loss, net	(267,935)		(269,261)		(287,017)		(313,217)		(323,320)
Total stockholders’ equity	3,553,326		3,541,277		3,466,739		3,426,843		3,521,656

Total liabilities and stockholders’ equity	$	34,724,241	$	34,797,442	$	34,012,965	$	34,250,453	$	33,779,918

Common shares outstanding (1)	154,262,045		155,533,403		155,522,693		157,647,137		166,403,086

______________

(1) Common shares outstanding include non-voting common stock equivalents that are participating securities. There were no non‑voting common stock equivalents outstanding as of March 31, 2026.


BANC OF CALIFORNIA, INC.
CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)
	Three Months Ended
	March 31,		December 31,		March 31,
	2026		2025		2025
	(In thousands, except per share amounts)
Interest income:
Loans and leases	$	349,943	$	359,268	$	346,103
Investment securities	41,873		39,557		37,862
Deposits in financial institutions	15,626		18,123		22,690
Total interest income	407,442		416,948		406,655
Interest expense:
Deposits	120,233		129,896		140,530
Borrowings	20,177		19,858		18,421
Subordinated debt	15,415		15,832		15,340
Total interest expense	155,825		165,586		174,291
Net interest income	251,617		251,362		232,364
Provision for credit losses	9,800		12,500		9,300
Net interest income after provision
for credit losses	241,817		238,862		223,064
Noninterest income:
Service charges on deposit accounts	4,978		5,038		4,543
Commissions and fees	10,980		9,524		9,958
Leased equipment income	8,530		16,381		10,784
Gain on sale of loans and leases	7		18		211

Dividends and gains on equity investments	2,002		3,492		2,323
Warrant income (loss)	938		361		(295)
LOCOM HFS adjustment	3		—		—
Other income	7,890		6,757		6,126
Total noninterest income	35,328		41,571		33,650
Noninterest expense:
Compensation	91,100		85,862		86,417
Occupancy	14,892		14,726		15,010
Information technology and data processing	14,339		13,751		15,099
Other professional services	4,236		6,774		4,513
Insurance and assessments	6,764		7,070		7,283
Intangible asset amortization	6,348		6,788		7,160
Leased equipment depreciation	5,304		6,202		6,741

Customer related expense	23,737		24,870		27,751
Loan expense	4,292		4,445		2,930

Other expense	10,379		10,156		10,749
Total noninterest expense	181,391		180,644		183,653
Earnings before income taxes	95,754		99,789		73,061
Income tax expense	23,802		22,398		19,493
Net earnings	71,952		77,391		53,568
Preferred stock dividends	9,947		9,947		9,947
Net earnings available to common
and equivalent stockholders	$	62,005	$	67,444	$	43,621
Earnings per common share:
Basic	$	0.40	$	0.43	$	0.26
Diluted	$	0.39	$	0.42	$	0.26


Weighted average number of common shares outstanding: (1)
Basic	154,821		155,449		168,495
Diluted	160,832		160,094		169,434

______________

(1) Common shares outstanding include non-voting common stock equivalents that are participating securities.


BANC OF CALIFORNIA, INC.
SELECTED FINANCIAL DATA
(UNAUDITED)
	Three Months Ended
	March 31,		December 31,		March 31,
Profitability and Other Ratios	2026		2025		2025
Return on average assets (1)	0.86	%	0.91	%	0.65	%

Return on average equity (1)	8.22	%	8.79	%	6.16	%
Return on average tangible common equity (1)(2)	9.91	%	10.75	%	7.56	%


Dividend payout ratio (3)	30.00	%	23.26	%	38.46	%
Average yield on loans and leases (1)	5.74	%	5.83	%	5.90	%
Average yield on interest-earning assets (1)	5.25	%	5.31	%	5.39	%
Average cost of interest-bearing deposits (1)	2.51	%	2.66	%	2.97	%
Average total cost of deposits (1)	1.78	%	1.89	%	2.12	%
Average cost of interest-bearing liabilities (1)	2.85	%	2.98	%	3.28	%
Average total cost of funds (1)	2.10	%	2.20	%	2.42	%
Net interest spread	2.40	%	2.33	%	2.11	%
Net interest margin (1)	3.24	%	3.20	%	3.08	%
Noninterest income to total revenue (4)	12.31	%	14.19	%	12.65	%
Noninterest expense to average total assets (1)	2.16	%	2.12	%	2.24	%
Noninterest expense to total revenue (4)	63.21	%	61.67	%	69.04	%
Efficiency ratio (2)(5)	61.00	%	59.35	%	66.35	%
Loans to deposits ratio	91.65	%	90.56	%	88.82	%
Average loans and leases to average deposits	90.45	%	89.81	%	88.36	%

Average investment securities to average total assets	14.76	%	14.49	%	14.21	%

Average stockholders' equity to average total assets	10.44	%	10.35	%	10.58	%

______________

(1) Annualized.

(2) Non-GAAP measure.

(3) Ratio calculated by dividing dividends declared per common and equivalent share by basic earnings per common and equivalent share.

(4) Total revenue equals the sum of net interest income and noninterest income.

(5) Ratio calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs) by total revenue.


BANC OF CALIFORNIA, INC.
AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID
(UNAUDITED)

	Three Months Ended
	March 31, 2026						December 31, 2025						March 31, 2025
			Interest		Average				Interest		Average				Interest		Average
	Average		Income/		Yield/		Average		Income/		Yield/		Average		Income/		Yield/
	Balance		Expense		Cost		Balance		Expense		Cost		Balance		Expense		Cost
	(Dollars in thousands)
Assets:
Loans and leases (1)	$	24,710,609	$	349,943	5.74	%	$	24,443,089	$	359,268	5.83	%	$	23,788,647	$	346,103	5.90	%
Investment securities	5,018,002		41,873		3.38	%	4,891,281		39,557		3.21	%	4,734,037		37,862		3.24	%

Deposits in financial institutions	1,742,657		15,626		3.64	%	1,834,773		18,123		3.92	%	2,088,139		22,690		4.41	%

Total interest-earning assets	31,471,268		407,442		5.25	%	31,169,143		416,948		5.31	%	30,610,823		406,655		5.39	%
Other assets	2,531,433						2,583,357						2,697,562
Total assets	$	34,002,701					$	33,752,500					$	33,308,385


Liabilities and Stockholders' Equity:
Interest checking	$	8,175,172	46,882		2.33	%	$	7,944,858	49,319		2.46	%	$	7,343,451	47,879		2.64	%
Money market	4,785,691		22,826		1.93	%	4,948,960		25,810		2.07	%	5,415,716		33,003		2.47	%
Savings	1,957,831		9,772		2.02	%	1,942,678		10,863		2.22	%	1,948,649		12,857		2.68	%
Time	4,510,418		40,753		3.66	%	4,570,369		43,904		3.81	%	4,498,268		46,791		4.22	%

Total interest-bearing deposits	19,429,112		120,233		2.51	%	19,406,865		129,896		2.66	%	19,206,084		140,530		2.97	%
Borrowings	1,765,661		20,177		4.63	%	1,661,808		19,858		4.74	%	1,397,720		18,421		5.34	%
Subordinated debt	953,739		15,415		6.55	%	951,471		15,832		6.60	%	942,817		15,340		6.60	%

Total interest-bearing liabilities	22,148,512		155,825		2.85	%	22,020,144		165,586		2.98	%	21,546,621		174,291		3.28	%

Noninterest-bearing demand deposits	7,890,489						7,809,326						7,714,830
Other liabilities	415,000						428,873						522,753
Total liabilities	30,454,001						30,258,343						29,784,204
Stockholders' equity	3,548,700						3,494,157						3,524,181

Total liabilities and stockholders' equity	$	34,002,701					$	33,752,500					$	33,308,385
Net interest income (1)			$	251,617					$	251,362					$	232,364
Net interest spread					2.40	%					2.33	%					2.11	%
Net interest margin					3.24	%					3.20	%					3.08	%

Total deposits (2)	$	27,319,601	$	120,233	1.78	%	$	27,216,191	$	129,896	1.89	%	$	26,920,914	$	140,530	2.12	%
Total funds (3)	$	30,039,001	$	155,825	2.10	%	$	29,829,470	$	165,586	2.20	%	$	29,261,451	$	174,291	2.42	%

______________

(1) Includes net loan discount accretion of $12.2 million, $12.7 million, and $16.0 million for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025.

(2) Total deposits is the sum of total interest-bearing deposits and noninterest-bearing demand deposits. The cost of total deposits is calculated as annualized interest expense on total deposits divided by average total deposits.

(3) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense divided by average total funds.

BANC OF CALIFORNIA, INC.

NON-GAAP MEASURES

We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles (“GAAP”) in this press release, including: tangible common equity, tangible book value per common share, return on average tangible common equity, pre-tax pre-provision income, efficiency ratio, and economic coverage ratio. These non-GAAP measures are used by management in its analysis of the Company's performance.

Tangible common equity is calculated by subtracting preferred stock, as applicable, from total common equity. Return on average tangible common equity is calculated by dividing net earnings available to common stockholders, after adjustment for amortization of intangible assets and any goodwill impairment, by average tangible common equity. Banking regulators also exclude goodwill and other intangible assets from stockholders' equity when assessing the capital adequacy of a financial institution.

Pre-tax pre-provision income is calculated by subtracting noninterest expense from total revenue, which is the sum of net interest income and noninterest income.

Efficiency ratio is calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs) by total revenue (the sum of net interest income and noninterest income).

Economic coverage ratio is calculated by dividing the allowance for credit losses adjusted for the impact of the credit-linked notes and unearned credit mark from purchase accounting by loans and leases HFI.

Management believes the presentation of these financial measures adjusting the impact of these items provides useful supplemental information that is essential to a proper understanding of the financial results and operating performance of the Company. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

The following tables provide reconciliations of the non-GAAP measures to financial measures defined by GAAP.


BANC OF CALIFORNIA, INC.
NON-GAAP MEASURES
(UNAUDITED)

Tangible Common Equity	March 31,		December 31,		September 30,		June 30,		March 31,
and Tangible Book Value Per Share	2026		2025		2025		2025		2025
	(Dollars in thousands, except per share amounts)
Stockholders' equity	$	3,553,326	$	3,541,277	$	3,466,739	$	3,426,843	$	3,521,656
Less: Preferred stock	498,516		498,516		498,516		498,516		498,516
Total common equity	3,054,810		3,042,761		2,968,223		2,928,327		3,023,140
Less: Goodwill and intangible assets	313,612		319,808		326,444		333,451		340,458
Tangible common equity	$	2,741,198	$	2,722,953	$	2,641,779	$	2,594,876	$	2,682,682







Book value per common share (1)	$	19.80	$	19.56	$	19.09	$	18.58	$	18.17
Tangible book value per common share (2)	$	17.77	$	17.51	$	16.99	$	16.46	$	16.12
Common shares outstanding (3)	154,262,045		155,533,403		155,522,693		157,647,137		166,403,086

______________

(1) Total common equity divided by common shares outstanding.

(2) Tangible common equity divided by common shares outstanding.

(3) Common shares outstanding include non-voting common stock equivalents that are participating securities. There were no non‑voting common stock equivalents outstanding as of March 31, 2026.


BANC OF CALIFORNIA, INC.
NON-GAAP MEASURES
(UNAUDITED)
	Three Months Ended
Return on Average Tangible	March 31,			December 31,			March 31,
Common Equity ("ROATCE")	2026			2025			2025
	(Dollars in thousands)
Net earnings	$	71,952		$	77,391		$	53,568

Earnings before income taxes							$	73,061
Add: Intangible asset amortization							7,160
Adjusted earnings before
income taxes for ROATCE							80,221
Adjusted income tax expense (1)							20,296

Adjustments:
Intangible asset amortization	6,348			6,788
Tax impact of adjustment above (1)	(1,596)			(1,823)
Adjustment to net earnings	4,752			4,965

Adjusted net earnings for ROATCE	76,704			82,356			59,925
Less: Preferred stock dividends	9,947			9,947			9,947
Adjusted net earnings available to

common and equivalent stockholders for ROATCE	$	66,757		$	72,409		$	49,978

Average stockholders' equity	$	3,548,700		$	3,494,157		$	3,524,181

Less: Average goodwill and intangible assets	317,215			323,295			344,610
Less: Average preferred stock	498,516			498,516			498,516
Average tangible common equity	$	2,732,969		$	2,672,346		$	2,681,055

Return on average equity (2)	8.22		%	8.79		%	6.16		%
ROATCE (3)	9.91		%	10.75		%	7.56		%

______________

(1) Effective tax rates of 25.14%, 26.86%, and 25.30% used for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively.

(2) Annualized net earnings divided by average stockholders' equity.

(3) Annualized adjusted net earnings available to common and equivalent stockholders for ROATCE divided by average tangible common equity.




	Three Months Ended
	March 31,		December 31,		March 31,
Pre-Tax Pre-Provision Income	2026		2025		2025
	(Dollars in thousands)
Net interest income (GAAP)	$	251,617	$	251,362	$	232,364
Add: Noninterest income (GAAP)	35,328		41,571		33,650
Total revenues (GAAP)	286,945		292,933		266,014
Less: Noninterest expense (GAAP)	181,391		180,644		183,653
Pre-tax pre-provision income (Non-GAAP)	$	105,554	$	112,289	$	82,361


BANC OF CALIFORNIA, INC.
NON-GAAP MEASURES
(UNAUDITED)
	Three Months Ended
	March 31,			December 31,			March 31,
Efficiency Ratio	2026			2025			2025
	(Dollars in thousands)
Noninterest expense	$	181,391		$	180,644		$	183,653
Less: Intangible asset amortization	(6,348)			(6,788)			(7,160)


Noninterest expense used for efficiency ratio	$	175,043		$	173,856		$	176,493

Net interest income	$	251,617		$	251,362		$	232,364
Noninterest income	35,328			41,571			33,650


Total revenue used for efficiency ratio	$	286,945		$	292,933		$	266,014

Noninterest expense to total revenue	63.21		%	61.67		%	69.04		%
Efficiency ratio (1)	61.00		%	59.35		%	66.35		%

______________

(1) Noninterest expense used for efficiency ratio divided by total revenue used for efficiency ratio.





	March 31,			December 31,
Economic Coverage Ratio	2026			2025
	(Dollars in thousands)
Allowance for credit losses ("ACL")	$	276,521		$	280,533
Add: Unearned credit mark from purchase accounting (1)	14,315			15,865
Add: Credit-linked notes (2)	104,988			108,413
Adjusted allowance for credit losses	$	395,824		$	404,811

Loans and leases HFI	$	24,780,347		$	25,032,679

ACL to loans and leases HFI (3)	1.12		%	1.12		%

Economic coverage ratio (4)	1.60		%	1.62		%

______________

(1) Unearned credit mark from purchase accounting estimated by using the same pro rata split between the credit and yield marks associated with non-PCD loans (purchased loans without credit deterioration at the time of purchase).

(2) Credit-linked notes loss coverage equal to 5% of the unpaid principal balance of the pledged loans.

(3) Allowance for credit losses divided by loans and leases HFI.

(4) Adjusted allowance for credit losses divided by loans and leases HFI.

Investor Presentation First Quarter 2026 Results

Forward-Looking Statements and Other Matters This presentation includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, liquidity and capital ratios, and other non-historical statements, including statements in the “2026 Outlook” section of this presentation. Words or phrases such as “believe,” “will,” “should,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” “strategy,” or similar expressions are intended to identify these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by Banc of California, Inc. (the “Company”) with the Securities and Exchange Commission (“SEC”). The Company undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made, except as required by law. Factors that could cause actual results to differ materially from the results anticipated or projected include, but are not l imited to: (i) changes in general economic conditions, either nationally or in our market areas, including the impact of tariffs, supply chain disruptions, and the risk of recession or an economic downturn; (ii) changes in the interest rate environment, including the recent and potential future changes in the FRB benchmark rate, which could adversely affect our revenue and expenses, the value of assets and obligations, the realization of deferred tax assets, the availability and cost of capital and liquidity, and the impacts of continuing or renewed inflation; (iii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of our underwriting practices and the risk of fraud, any of which may lead to increased loan delinquencies, losses, and non-performing assets, and may result in our allowance for credit losses not being adequate; (iv) fluctuations in the demand for loans, and fluctuations in commercial and residential real estate values in our market area; (v) the quality and composition of our securities portfolio; (vi) our ability to develop and maintain a strong core deposit base, including among our venture banking clients, or other low cost funding sources necessary to fund our activities particularly in a rising or high interest rate environment; (vii) the rapid withdrawal of a significant amount of demand deposits over a short period of time; (viii) the costs and effects of litigation; (ix) risks related to the Company’s acquisitions, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; and our inability to achieve expected revenues, cost savings, synergies, and other benefits; (x) results of examinations by regulatory authorities of the Company and the possibility that any such regulatory authority may, among other things, limit our business activities, restrict our ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase our allowance for credit losses, result in write-downs of asset values, restrict our ability or that of our bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xi) legislative or regulatory changes that adversely affect our business, including changes in tax laws and policies, accounting policies and practices, privacy laws, and regulatory capital or other rules; (xii) the risk that our enterprise risk management framework may not be effective in mitigating risk and reducing the potential for losses; (xiii) errors in estimates of the fair values of certain of our assets and liabilities, as well as the value of collateral supporting our loans, which may result in significant changes in valuation or recoveries; (xiv) failures or security breaches with respect to the network, applications, vendors and computer systems on which we depend, including due to cybersecurity threats; (xv) our ability to attract and retain key members of our senior management team; (xvi) the effects of climate change, severe weather events, natural disasters such as earthquakes and wildfires, pandemics, epidemics and other public health crises, military activity (including the ongoing Iran War) or acts of terrorism, and other external events on our business; (xvii) the impact of bank failures or other adverse developments at other banks on general depositor and investor sentiment regarding the stability and liquidity of banks; (xviii) the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; (xix) our existing indebtedness, together with any future incurrence of additional indebtedness, could adversely affect our ability to raise additional capital and to meet our debt obligations; (xx) changes in market conditions or strategic balance sheet actions, which may result in realized losses on investment securities or other assets; and (xxi) other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services and the other risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and from time to time in other documents that we file with or furnish to the SEC. Included in this presentation are certain non-GAAP financial measures, such as tangible assets, tangible common equity ratio, tangible book value per common share, adjusted net earnings, adjusted earnings per share, return on average tangible common equity, adjusted return on average tangible common equity, pre-tax pre-provision income, adjusted noninterest expense, adjusted noninterest expense to average assets, efficiency ratio, adjusted efficiency ratio, core deposits, core loans, economic coverage ratio, and adjusted ACL ratio, designed to complement the financial information presented in accordance with U.S. GAAP because management believes such measures are useful to investors. These non-GAAP financial measures should be considered only as supplemental to, and not superior to, financial measures provided in accordance with GAAP. Please refer to the “Non-GAAP Financial Information” and “Non-GAAP Reconciliation” sections of the appendix of this presentation for additional detail including reconciliations of non-GAAP financial measures included in this presentation to the most directly comparable financial measures prepared in accordance with GAAP. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP financial measures, including ROTCE future state targets. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results. First Quarter 2026 Earnings | 2

Banc of California: Who We Are ❖ We are a premier, relationship-focused, full-service business bank ❖ Largest independent bank headquartered in Los Angeles ❖ National presence through 79 retail branches in California, Colorado and North Carolina and specialty businesses ❖ Big-bank expertise and capabilities, with the tailored solutions and personal service of a community bank High Quality California Footprint National Presence & Broad Capabilities Fresno Monterey Kings Tulare Kern San Luis Obispo Santa Barbara Ventura Los Angeles San Bernardino RiversideOrange San Diego LARGEST INDEPENDENT BANK HEADQUARTERED IN LOS ANGELES HQ (Los Angeles) Branches ❖ Community Banking ❖ Treasury Management ❖ Payment Solutions ❖ Specialty Businesses ❖ Venture Banking ❖ Fund Finance ❖ Technology ❖ Life Sciences ❖ Lender & Specialty Finance Specialty Bank Office Community Banking Branches Menlo Park Orange County Los Angeles Denver San Diego Austin Atlanta Chicago Boston New York Chevy Chase Durham Phoenix Santa Barbara ❖ Specialty Businesses (cont’d) ❖ Warehouse Lending ❖ HOA ❖ Media & Entertainment ❖ SBA THIRD LARGEST BANK HEADQUARTERED IN CALIFORNIA(1) First Quarter 2026 Earnings | 3 1. Ranked by assets.

1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. 2. Production includes new loan production and disbursements. Diluted EPS of $0.39, up 50% YoY, reflects positive operating leverage and strong core earnings drivers EPS Diluted EPS: $0.39,+50% YoY Operating Leverage PTPP(1): +28%, revenues +8%, expenses -1% YoY Strong Balance Sheet ACL ratio stable at 1.12% Primary + Secondary liquidity of $14.2B Shareholder Value Repurchased 1.7mm shares in 1Q26 at average price of $18.68/share Loans Production(2) of $2.1B in 1Q26 Average total loans +4% annualized Deposits Avg. NIB deposits +4% annualized; Avg. NIB / Avg. Deposits of ~29% NIM NIM of 3.24% +4 bps QoQ; cost of deposits of 1.78% -11 bps QoQ Capital CET 1: 10.18% TBVPS(1): $17.77, +10% YoY Financial Highlights First Quarter 2026 Earnings | 4 Change 1Q26 4Q25 1Q25 QoQ D YoY D Operating results PTPP(1) $105.6mm $112.3mm $82.4mm -6% 28% Diluted EPS $0.39 $0.42 $0.26 -$0.03 $0.13 ROAA 0.86% 0.91% 0.65% -5 bps 21 bps ROATCE(1) 9.91% 10.75% 7.56% -84 bps 235 bps NIM 3.24% 3.20% 3.08% 4 bps 16 bps Adj. efficiency ratio(1) 57.49% 55.58% 62.43% 191 bps -494 bps Capital TBVPS(1) $17.77 $17.51 $16.12 $0.26 $1.65 CET 1 capital ratio 10.18% 10.01% 10.45% 17 bps -27 bps Credit ACL ratio 1.12% 1.12% 1.10% 0 bps 2 bps

ROAA(2) Diluted EPS(2)PTPP(1) Delivering consistent, sustainable results in key performance metrics ROATCE(1)(2) 1. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. 2. Diluted EPS, ROAA, and ROATCE for 2Q25 are adjusted figures and denote non-GAAP financial measures; see “Non-GAAP Reconciliation” slides in Appendix. TBVPS(1) Net Interest Margin $0.26 $0.31 $0.38 $0.42 $0.39 1Q25 2Q25 3Q25 4Q25 1Q26 $82.4mm $87.0mm $102.0mm $112.3mm $105.6mm 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 0.65% 0.69% 0.82% 0.91% 0.86% 1Q25 2Q25 3Q25 4Q25 1Q26 7.56% 8.34% 9.87% 10.75% 9.91% $16.12 $16.46 $16.99 $17.51 $17.77 1Q25 2Q25 3Q25 4Q25 1Q26 3.08% 3.10% 3.22% 3.20% 3.24% 1Q25 2Q25 3Q25 4Q25 1Q26 28% 50%10% 16 bps 21 bps 235 bps Financial Highlights First Quarter 2026 Earnings | 5

1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. PTPP(1) growth of 28% YoY reflects continued NIM expansion and expense discipline Income Statement ($ in millions) 1Q26 4Q25 1Q25 Total interest income $407.4 $416.9 $406.7 Total interest expense 155.8 165.6 174.3 Net interest income 251.6 251.4 232.4 Total noninterest income 35.3 41.6 33.7 Total revenue 286.9 292.9 266.0 Operating expense 181.4 180.6 183.7 Total noninterest expense 181.4 180.6 183.7 PTPP income(1) 105.6 112.3 82.4 Provision for credit losses 9.8 12.5 9.3 Earnings before income taxes 95.8 99.8 73.1 Income tax expense 23.8 22.4 19.5 Net earnings 72.0 77.4 53.6 Preferred stock dividends 9.9 9.9 9.9 Net earnings available to common and equivalent stockholders $62.0 $67.4 $43.6 Key Income Statement Metrics 1Q26 4Q25 1Q25 Diluted EPS $0.39 $0.42 $0.26 ROAA 0.86% 0.91% 0.65% ROATCE(1) 9.91% 10.75% 7.56% Net interest margin 3.24% 3.20% 3.08% NIE / average assets 2.16% 2.12% 2.24% Adj. NIE / average assets(1) 1.88% 1.83% 1.90% Efficiency ratio(1) 61.00% 59.35% 66.35% Adj. efficiency ratio(1) 57.49% 55.58% 62.43% Avg. yield on loans and leases 5.74% 5.83% 5.90% Avg. yield on interest-earning assets 5.25% 5.31% 5.39% Avg. total cost of funds 2.10% 2.20% 2.42% Avg. total cost of deposits 1.78% 1.89% 2.12% First Quarter 2026 Earnings | 6

Strong balance sheet with healthy capital and liquidity 1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. 2. Total funding defined as total deposits plus borrowings. Balance Sheet ($ in millions) 1Q26 4Q25 1Q25 Cash and cash equivalents $2,217 $2,308 $2,344 Investment securities 5,140 4,923 4,801 Loans held for sale 259 183 26 Loans and leases HFI 24,780 25,033 24,127 Allowance for loan and lease losses (242) (246) (235) Goodwill and intangibles 314 320 340 Deferred tax asset, net 653 657 702 Other assets 1,602 1,620 1,675 Total assets $34,724 $34,797 $33,780 Noninterest-bearing deposits $7,798 $7,823 $7,594 Interest-bearing deposits 19,525 20,021 19,599 Total deposits 27,322 27,843 27,193 Borrowings 2,551 2,064 1,671 Subordinated debt 954 953 945 Other liabilities 343 396 449 Total liabilities excluding deposits 3,849 3,413 3,065 Total stockholders’ equity 3,553 3,541 3,522 Total liabilities and stockholders’ equity $34,724 $34,797 $33,780 First Quarter 2026 Earnings | 7 Key Balance Sheet Metrics 1Q26 4Q25 1Q25 Average interest-earning assets $31,471 $31,169 $30,611 CET 1 ratio 10.18% 10.01% 10.45% Tangible common equity ratio(1) 7.97% 7.90% 8.02% Tangible book value per share(1) $17.77 $17.51 $16.12 Cash / assets 6.4% 6.6% 6.9% Cash + securities / assets 21.2% 20.8% 21.2% Loans / deposits 91.6% 90.6% 88.8% Noninterest-bearing deposits / total deposits 28.5% 28.1% 27.9% Deposits / total funding(2) 91.5% 93.1% 94.2% Total brokered deposits / total funding(2) 9.3% 9.7% 9.2% ACL ratio 1.12% 1.12% 1.10%

Net Interest Income (NII) ($mm) and Net Interest Margin (NIM) (%) Impact to NII ($mm) from cumulative change in yields, rates and mix 4Q25 Deposits +$2.3 Securities +$0.1 Borrowings -$2.5 Cash / Other EA -$9.3 Loans 1Q26 $251.4 +$9.7 $251.6 $232.4 $240.2 $253.4 $251.4 $251.6 3.08% 1Q25 3.10% 2Q25 3.22% 3Q25 3.20% 4Q25 3.24% 1Q26 Net interest income supported by ongoing net interest margin expansion Net Interest Income and Net Interest Margin ❖ NII of $251.6mm up 8% YoY due to improved funding costs ❖ Deposit costs declined QoQ reflecting impact of rate cuts and decline in higher-cost deposit balances, including retail CDs ❖ Loan interest income decreased QoQ driven by impact of rate cuts on variable rate loans and late 1Q26 timing of loan production ❖ Securities income increased QoQ driven by special dividend received on FHLB stock of $1.3mm and purchase of higher yielding securities First Quarter 2026 Earnings | 8 HIGHLIGHTS

Noninterest income in line with normal run-rate ($ in millions) 1Q26 4Q25 1Q25 Leased Equipment Income $8.5 $16.4 $10.8 Commissions and Fees 11.0 9.5 10.0 Service Charges on Deposits 5.0 5.0 4.5 Dividends & Gains (Losses) on Equity Investments 2.0 3.5 2.3 Other Income (1) 8.8 7.1 6.0 Total Noninterest Income $35.3 $41.6 $33.7 Noninterest Income First Quarter 2026 Earnings | 9 HIGHLIGHTS ❖Noninterest income of $35.3mm relatively flat QoQ excluding ~$6mm lease residual gain in 4Q25 ❖Commissions and fees income increased $1.5mm vs. 4Q25, driven by increased FX fees ❖Other income increased due to $1.4mm gain from partial credit-linked-note extinguishment ❖Noninterest income normal run-rate of $11mm- $12mm per month 1. Other income includes revenue from BOLI, warrants, credit-linked note related income, and other miscellaneous income.

Adjusted Noninterest Expense(1) / Average Assets Ratio 1. Excludes customer related expense. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. 2. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. Noninterest expenses remain well-controlled 66.35% 65.50% 62.05% 59.35% 61.00% 62.43% 61.77% 58.24% 55.58% 57.49% 1Q25 2Q25 3Q25 4Q25 1Q26 Efficiency Ratio(2) Adjusted Efficiency Ratio(1) Adjusted Efficiency Ratio(1) ($ in millions) 1Q26 4Q25 1Q25 Compensation $91.1 $85.9 $86.4 Occupancy 14.9 14.7 15.0 IT and data processing 14.3 13.8 15.1 Professional services 4.2 6.8 4.5 Insurance and assessments 6.8 7.1 7.3 Intangible asset amortization 6.3 6.8 7.2 Leased equipment depreciation 5.3 6.2 6.7 Loan expense 4.3 4.4 2.9 Other expense 10.4 10.2 10.7 Customer related expense 23.7 24.9 27.8 Total noninterest expense $181.4 $180.6 $183.7 Adjusted noninterest expense (1) $157.7 $155.8 $155.9 2.24% 1.90% 1Q25 2.21% 1.89% 2Q25 2.18% 1.87% 3Q25 2.12% 1.83% 4Q25 2.16% 1.88% 1Q26 Noninterest Expense / Average Assets Ratio Adjusted Noninterest Expense / Average Assets Ratio Noninterest Expense (1) First Quarter 2026 Earnings | 10 ❖ Compensation expense increased QoQ largely due to seasonal resets of payroll taxes and benefits ❖ Professional services expense declined QoQ due to lower vendor costs and timing of project spend ❖ Customer related expenses declined in 1Q26 due to 4Q25 rate cuts partially offset by increase in HOA deposit balances HIGHLIGHTS

Average NIB growth and deposit repricing continue to improve funding costs 4.33% 4.33% 4.30% 3.90% 3.64% 2.12% 2.13% 2.08% 1.89% 1.78% Average Fed Funds Rate Average Total Cost of Deposits 28% 27% 28% 28% 29% 29% 29% 29% 30% 30% 27% 27% 26% 25% 24% 9% 9% 9% 9% 9% 1Q25 2Q25 3Q25 4Q25 1Q26 7% 8% 8% 8% 8% Non-Brokered CDs Brokered CDs Money Market & Savings Interest-bearing Checking Noninterest-bearing Checking 1. Brokered non-maturity deposits consist of brokered sweep accounts included in Checking and MMDA. 2. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. 3. Represents all NIB deposit balances with ECR including through cash rebates and/or fee offsets. 4. Costs do not include ECR expenses related to HOA deposits. 5. Includes brokered CDs. Deposits By Line of Business ($mm) 1Q26 Balance 1Q26 Cost 4Q25 Balance 4Q25 Cost Community Banking $13,823 1.51% $14,155 1.62% Venture 6,272 2.22% 6,498 2.43% Specialty Banking (includes HOA)(4) 3,970 0.70% 4,056 0.82% Corporate and Other Institutional(5) 3,258 3.56% 3,135 3.84% Total Deposits $27,322 1.78% $27,843 1.89% ❖ Cost of deposits down QoQ due to deposit repricing and decline in higher-cost deposit balances, including retail CDs ❖ Average NIB growth of 4% annualized driven by 2.5% increase in average existing account balances ❖ Achieved interest-bearing deposit beta of 57% in 1Q26 Deposits ($ in millions) 1Q26 4Q25 1Q25 Noninterest-bearing Checking $7,798 $7,823 $7,594 Checking 8,178 8,509 7,747 MMDA 4,643 4,918 5,368 Savings 1,991 1,906 1,999 CDs 4,712 4,687 4,485 Total Deposits $27,322 $27,843 $27,193 Less: Brokered CDs 2,562 2,433 1,995 Less: Brokered Non-maturity Deposits (1) 226 480 667 Core Deposits (2) $24,534 $24,930 $24,531 Average Noninterest-bearing Checking 7,890 7,809 7,715 Average NIB Checking / Average Deposits 28.9% 28.7% 28.7% NIB Deposits with ECR (3) 5,041 4,924 4,704 First Quarter 2026 Earnings | 11 HIGHLIGHTS

650 1,288 1,889 2,390 2,929 3,569 4,031 4,845 5,393 $107.3 1Q24 $257.8 2Q24 $382.6 3Q24 $439.2 4Q24 $537.8 1Q25 $643.2 2Q25 $746.8 3Q25 $965.2 4Q25 $1,113.5 1Q26 Cumulative New NIB Business Deposits Accounts Cumulative New NIB Business Deposits ($ millions) Steady growth in new NIB business deposit relationships and balances(1) 1. Includes new NIB deposits from relationships opened over the last two years from the quarter referenced. NIB Deposit Growth First Quarter 2026 Earnings | 12

Balanced loan portfolio with healthy rates despite declining rate environment Note: Wtd. Avg. Rate excludes accretion of net deferred loan fees and net loan purchase discounts. 1. Venture lending includes technology and life science lending. Loan Portfolio 1Q26 4Q25 1Q26 4Q25 Total Variance % of Total Loans 1Q26 Wtd. Avg. Rate 1Q26 NPL % 1Q26 DQ % 1Q26 ACL Coverage Ratio ACL Coverage Ratio Multifamily $5,955 $6,089 ($134) 24.0% 4.2% 0.22% 0.59% $35 0.59% $40 0.66% Other CRE 3,444 3,648 (204) 13.9% 5.3% 1.40% 1.03% 88 2.55% 91 2.48% Real Estate Construction 1,892 1,948 (55) 7.6% 5.9% 0.00% 9.17% 19 0.99% 18 0.90% Residential / Consumer 3,529 3,403 126 14.2% 4.6% 1.15% 1.90% 8 0.22% 6 0.16% C&I 1,886 1,854 32 7.6% 6.3% 0.06% 0.07% 27 1.41% 26 1.42% Warehouse 1,805 2,100 (295) 7.3% 6.7% 0.00% 0.00% 3 0.16% 4 0.17% Venture Lending (1) 965 902 63 3.9% 7.0% 2.99% 0.06% 74 7.71% 72 8.02% Fund Finance 1,358 1,320 37 5.5% 6.5% 0.00% 0.00% 0 0.03% 1 0.05% SBA 730 743 (13) 2.9% 6.9% 5.45% 2.28% 5 0.68% 5 0.71% Lender Finance 1,865 1,602 263 7.5% 6.9% 0.00% 0.00% 6 0.34% 6 0.37% Equipment Lending 666 675 (8) 2.7% 6.0% 0.00% 0.08% 1 0.21% 2 0.26% Core Loan Portfolio $24,095 $24,284 ($189) 97.2% 5.5% 0.71% 1.37% $266 1.10% $270 1.11%0 0 0% 0.00% 0.00% 0 0 0 0 Premium Finance $408 $448 ($40) 1.6% 3.3% 0.00% 0.00% $0 0.07% $0 0.07% Student 250 262 (12) 1.0% 4.3% 0.39% 1.05% 10 4.02% 11 4.05% Civic 27 39 (12) 0.1% 7.2% 47.54% 43.86% 0 0.05% 0 0.10% Discontinued Areas $685 $749 ($63) 2.8% 3.8% 2.04% 2.13% $10 1.51% $11 1.46% Total Loans and Leases HFI $24,780 $25,033 ($252) 100.0% 5.4% 0.75% 1.39% $277 1.12% $281 1.12% Loans Held for Sale (HFS) 259 183 76 Total Loans and Leases $25,039 $25,216 ($176) Loan Segment ($ in millions) First Quarter 2026 Earnings | 13

$1,063 $867 $990 $826 $1,040 $1,147 $878 $911 $837 $1,443 $1,931 $1,816 $2,186 $1,789 $2,280 7.20% 7.29% 7.08% 6.65%5.90% 5.93% 6.05% 5.74% 6.83% 5.83% Rate on Production Total Loan Yield ($ in millions) 1. Rate on production is rate on new loans funded in respective quarter. 2. Includes charge-offs, transfers to foreclosed assets, loan sales, and transfers to HFS. Consistent, strong loan production $1,197 $997 $893 $1,696 $808 Payoffs PaydownsUnfunded New Commitments 1Q25 2Q25 3Q25 4Q25 1Q26 $2,294 $2,459 $2,068 $2,730 $2,119 Loan Production and Disbursements ($ in millions) Loans Beginning Balance Total Production/ Disbursements Total Payoffs/ Paydowns Net Change Other Change(2) Loans Ending Balance Total Loan Yield Rate on Production C&I Utilization Rate 1Q26 $25,033 $2,119 $2,280 (162) (91) 24,780 5.74% 6.65% 67.3% 4Q25 24,111 2,730 1,789 941 (19) 25,033 5.83% 6.83% 66.6% 3Q25 24,246 2,068 2,186 (118) (17) 24,111 6.05% 7.08% 66.1% 2Q25 24,127 2,459 1,816 643 (524) 24,246 5.93% 7.29% 64.8% 1Q25 23,782 2,294 1,931 364 (19) 24,127 5.90% 7.20% 63.6% Loan Activity (1) ❖ Strong 1Q26 loan production was broad based and driving remixing of balance sheet ❖ Elevated paydowns in 1Q26 driven by seasonal warehouse activity ❖ 1Q26 rate on new production and total loan yield declined QoQ due to impact of rate cuts First Quarter 2026 Earnings | 14 HIGHLIGHTS

Broad-based production drives portfolio remixing as lower yielding loans payoff Note: Wtd. Avg. Rate excludes accretion of net deferred loan fees and net loan purchase discounts. 1. Venture lending includes technology and life science lending. Loan Activity by Segment First Quarter 2026 Earnings | 15 ❖ 1Q26 loan production was strong and broad based across all categories. Warehouse, Fund Finance and Other CRE had higher payoffs and paydowns in the quarter ❖ Steady and continued remixing of the portfolio from lower rate CRE loans originated pre-merger toward higher rate C&I loan categories ❖ Loan portfolio rates have held steady despite declining rate environment from 1Q25 to 1Q26, due to portfolio remixing, which has protected margin ❖ CRE concentration continues to moderate downward, with CRE concentration ratio down to 287% in 1Q26 from 318% at 1Q25 ❖ Margin benefit of portfolio remixing expected to continue (see slide 16 for maturity / repricing schedule) HIGHLIGHTS 1Q26 4Q25 1Q25 Loan Segment ($ in millions) Balances Production + Disbursements Payoffs + Paydowns Wtd. Avg Rate Balances Production + Disbursements Payoffs + Paydowns Wtd. Avg Rate Balances Production + Disbursements Payoffs + Paydowns Wtd. Avg Rate Multifamily $5,955 $34 ($189) 4.2% $6,089 $27 ($161) 4.2% $6,216 $175 ($96) 4.2% Other CRE 3,444 57 (320) 5.3% 3,648 112 (125) 5.3% 3,859 45 (139) 5.4% Real Estate Construction 1,892 165 (131) 5.9% 1,948 157 (246) 5.9% 2,861 174 (367) 6.2% Residential / Consumer 3,529 234 (106) 4.6% 3,403 341 (113) 4.5% 2,781 218 (212) 3.8% C&I 1,886 406 (262) 6.3% 1,854 380 (249) 6.3% 1,884 441 (379) 6.8% Warehouse 1,805 264 (559) 6.7% 2,100 521 (191) 6.8% 1,601 342 (214) 7.4% Venture Lending 965 129 (67) 7.0% 902 138 (95) 7.1% 777 81 (90) 7.8% Fund Finance 1,358 470 (432) 6.5% 1,320 662 (390) 6.5% 956 466 (257) 7.4% SBA 730 18 (30) 6.9% 743 50 (27) 6.9% 715 29 (21) 6.6% Lender Finance 1,865 288 (60) 6.9% 1,602 209 (42) 7.0% 931 283 (59) 7.9% Equipment Lending 666 52 (60) 6.0% 675 130 (88) 6.0% 626 37 (33) 5.9% Core Loan Portfolio $24,095 $2,116 ($2,216) 5.5% $24,284 $2,727 ($1,728) 5.5% $23,208 $2,291 ($1,868) 5.6% Premium Finance $408 $2 ($41) 3.3% $448 $2 ($19) 3.4% $518 $2 ($31) 3.4% Student 250 0 (11) 4.3% 262 0 (13) 4.3% 298 0 (12) 4.3% Civic 27 0 (12) 7.2% 39 1 (29) 7.2% 103 1 (20) 7.0% Discontinued Areas $685 $2 ($64) 3.8% $749 $3 ($61) 3.9% $918 $4 ($63) 4.1% Total Loans and Leases HFI $24,780 $2,119 ($2,280) 5.4% $25,033 $2,730 ($1,789) 5.4% $24,127 $2,294 ($1,931) 5.5% (1)

$0.3 $0.5 $0.1 $1.6$1.4 $0.6 $0.8 $0.7 20% of fixed rate & hybrid loans will reprice / reset within one year at higher rates 4.1% 4.1% 3.7% 5.1% 3.8% 4.1% 5.1% 3.7% Multifamily Loans – Maturities / Repricing Hybrid & Variable Rate: Fixed Rate: Total Fixed Rate and Hybrid Loans – Maturities / Repricing Total fixed rate and hybrid loans: $13.6B Total multifamily loans: $5.9B 4.4% 4.5% 4.5%4.6%WAC: <= 1 Year 1-2 Years 2-3 Years > 3 Years $1.7B $1.1B $0.9B $2.3BFixed Rate Maturity(1) Hybrid & Variable Rate Reset $1.2 $0.7 $1.6 $1.1 $0.8 $6.6 <= 1 Year $0.9 1-2 Years $0.7 2-3 Years > 3 Years $2.8B $2.0B $1.5B $7.3B Fixed Rate(1) Hybrid Loan Maturity and Repricing Summary 54% or ~$3.2B of low yielding multifamily loans will reprice or mature in next 2.5 years Note: Long Term (“LT”) Variable: Loans that reset or mature beyond one year. Weighted Average Coupon (“WAC”): Weighted average of the contractual interest rate. 1. Balances include maturities only and do not include scheduled amortization and prepayment expectations. ❖ Total fixed rate and hybrid loans that are maturing/repricing by year-end have a WAC of 4.7%, significantly below 1Q26 rate on new production of 6.65% ❖ ~$0.9B of hybrid multifamily loans maturing/repricing within 1 year have a WAC of 4.3%, offering strong repricing upside ❖ Short-term variable loans represent 38% of total loans, down from 39% at 4Q25 42% 38% 20% 1Q26 Fixed ST Variable Hybrid+LT Variable Loan Composition WAC: 4.7% WAC: 6.7% WAC: 4.6% HIGHLIGHTS First Quarter 2026 Earnings | 16

Diversified NDFI exposure with history of minimal losses First Quarter 2026 Earnings | 17 NDFI Lending Exposure Note: Asset quality metrics are based on loans and leases HFI. Mortgage Warehouse includes warehouse lines to mortgage originators, Fund Finance includes capital call facilities, Consumer Credit includes auto and consumer lending, Other Mortgage Credit includes mortgage rediscount lending and Business Credit includes small business lending. 1. 10-year historical NCO rate represents average quarterly net loss rate annualized over the last 10 years. HIGHLIGHTS ❖ Long history of strong asset quality performance with almost no delinquencies, NPLs or classified loans ❖ Only three charge-offs over the last 10 years including one that resulted in nearly full recovery ❖ Careful client screening focuses on established operators with extensive, stable performance history ❖ In-house audit team conducts anti-fraud measures including monthly testing of underlying collateral, cash collections and payments history and periodic mortgage title checks ❖ Majority of loans are handled by the bank alone. Partner banks limited to banks with fraud, audit and control frameworks aligned with our rigorous standards NDFI Lending Exposure ❖ Business Credit, Consumer Credit, and Other Mortgage Credit are primarily within our Lender Finance business Loan Type ($ in millions) 1Q26 Loan Balance 1Q26 % of Total Loans HFI 1Q26 NPL % of Total Loans HFI 1Q26 DQ % of Total Loans HFI 1Q26 Classified % of Total Loans HFI 10-Year Historical NCO Rate(1) Mortgage Warehouse $1,805 7.3% 0.00% 0.00% 0.00% 0.053% Fund Finance 1,358 5.5% 0.00% 0.00% 0.00% 0.000% Consumer Credit 916 3.7% 0.00% 0.00% 0.00% 0.000% Other Mortgage Credit 488 2.0% 0.00% 0.00% 0.00% 0.022% Business Credit 422 1.7% 0.00% 0.00% 0.00% 0.000% Other NDFI 70 0.3% 0.00% 0.00% 0.00% 0.000% Total NDFI Portfolio HFI $5,059 20.4% 0.00% 0.00% 0.00% 0.019% Total Core Loan Portfolio HFI $24,095 97.2% 0.71% 1.37% 3.44% Total Loans and Leases HFI $24,780 100.0% 0.75% 1.39% 3.40%

Credit migration in 1Q26 was concentrated in a limited number of relationships ❖ We are appropriately reserved for the credit migration in the first quarter ❖ Delinquent loans increased $144mm QoQ, driven by two loans that are expected to become current before quarter end ❖ Special mention and classified inflows were driven by loans to two longstanding relationships; loans supported by credit enhancements, guarantees, and low LTVs ❖ Remaining HFS CRE sale process remains on track Special Mention Loans ($mm) Delinquent Loans ($mm) Classified Loans ($mm) $311.3 $320.1 $275.3 $281.9 $276.6 $466.5 $21.6 1Q25 $175.1 $465.7 $15.8 2Q25 $255.3 $478.9 $29.3 3Q25 $257.4 $520.1 $22.8 4Q25 $245.7 $583.1 $14.0 1Q26 $764.7 $656.6 $763.6 $800.3 $842.8 3.17% 2.71% 3.17% 3.20% 3.40% Classified Loans/Leases to Loans/Leases HFI CRE Loans (excluding MF and Construction) Other Core Loans(1) Discontinued Loans 0.83% 0.62% 0.67% 0.80% 1.39% Delinquent Loans to Loans/Leases HFI 1. Reference Page 13 for Core Loan Portfolio. Other Core Loans comprises Core Loan Portfolio less CRE loans (excluding MF and Construction). HIGHLIGHTS Nonperforming Loans ($mm) $90.8 $101.4 $21.3 1Q25 $55.7 $96.4 $15.4 2Q25 $56.2 $89.4 $28.9 3Q25 $53.1 $83.2 $22.8 4Q25 $48.4 $123.4 $14.0 1Q26 $213.5 $167.5 $174.5 $159.2 $185.7 CRE Loans (excluding MF and Construction) Other Core Loans(1) Discontinued Loans 0.88% 0.69% 0.72% 0.64% 0.75% $297.8 $633.0 $6.2 1Q25 $201.0 $454.5 $6.1 2Q25 $108.3 $392.0 $5.7 3Q25 $125.0 $328.5 $5.2 4Q25 $117.5 $566.1 $5.0 1Q26 $937.0 $661.6 $506.0 $458.7 $688.7 CRE Loans (excluding MF and Construction) Other Core Loans(1) Discontinued Loans 3.88% 2.73% 2.10% 1.83% 2.78% Special Mention Loans/Leases to Loans/Leases HFI NPLs to Loans/Leases HFI $78.9 $84.8 $36.9 1Q25 $42.7 $90.5 $16.2 2Q25 $46.3 $77.7 $37.4 3Q25 $40.9 $138.2 $21.8 4Q25 $35.4 $295.1 $14.6 1Q26 $200.6 $149.5 $161.4 $201.0 $345.1 CRE Loans (excluding MF and Construction) Other Core Loans(1) Discontinued Loans Asset Quality Ratios and Trends First Quarter 2026 Earnings | 18 We remained proactive in managing credit, while continuing to deliver positive earnings momentum

❖ ACL decreased $4.0mm reflecting: ❖ Net charge-offs of $13.8mm primarily driven by two loans • Hotel property which migrated to NPL in 1Q25 • Office loan balance adjusted to updated appraisal; loan remains current and performing ❖ Provision of $9.8mm reflects updates to risk ratings ❖ Economic coverage ratio(1) stable at 1.60% ($ in millions) 1Q26 Net Charge-offs (Recoveries) detail ACL 4Q25 ($13.8) Net Charge-offs $9.8 Provision for Loans HFI ACL 1Q26 $280.5 Maintained ACL coverage ratio at 1.12% HIGHLIGHTS 1. Economic coverage ratio adjusts our ACL coverage ratio to include the loss coverage from credit-linked notes and unearned credit marks from purchase accounting. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. 1.60% Economic coverage ratio(1) $276.5 $264.6 1.10% 1.66% 1Q25 $258.6 1.07% 1.61% 2Q25 $270.7 1.12% 1.65% 3Q25 $280.5 1.12% 1.62% 4Q25 $276.5 1.12% 1.60% 1Q26 ACL ACL / Total Loans HFI Economic Coverage Ratio(1) ACL / Total Loans ($mm) 1Q26 ACL walk 1.12% 1.12% Net Charge-offs (Recoveries) ($ in millions) Charge-offs Recoveries Net Charge-offs (Recoveries) % of Total Loans (annualized) Civic Loans $0.2 ($0.1) $0.1 0.00% Commercial Loans 1.7 (1.3) 0.4 0.01% Real Estate Mortgage 5.2 (0.7) 4.4 0.07% Real Estate Construction 8.1 - 8.1 0.13% Consumer Loans: Student Loans 0.9 (0.1) 0.8 0.01% Consumer Loans: excluding Student Loans - (0.1) (0.1) 0.00% Total $16.1 ($2.3) $13.8 0.23% Allowance for Credit Losses - Loans First Quarter 2026 Earnings | 19

Adjusted ACL ratio(1) is significantly higher when adjusting for lower loss loan categories 1Q26 Adjusted ACL Ratio(1) Composition of Lower Loss Loan Categories ❖ Recent loan growth is in segments with relatively low expected credit losses including lender finance, SFR and fund finance ❖ Adjusted ACL Ratio(1) at 1.61%; Economic Coverage Ratio(1) at 1.60%, which includes $105.0mm of loss coverage from credit-linked notes on SFR ❖ Lower loss loan categories as a percent of total loans relatively stable QoQ 1.12% 1.27% 1.38% 1.61% ACL Ratio Adj. ACL Ratio Excluding Single Family Residential Loans Adj. ACL Ratio Excluding SFR Mortgage & Warehouse Loans Adj. ACL Ratio Excluding SFR Mort., Warehouse, Fund Finance and Lender Finance Loans HIGHLIGHTS 1. Adjusted ACL Ratio is adjusted for lower loss loan categories. Economic Coverage Ratio is adjusted for the impact of credit-linked notes and unearned credit mark from purchase accounting. Denotes a non-GAAP financial measure, see "Non-GAAP Reconciliation” slides in Appendix. Adjusted Allowance for Credit Losses Ratios Lower Loss Loan Categories ($ in millions) 1Q26 4Q25 1Q25 Residential $3,431 $3,307 $2,684 Warehouse 1,805 2,100 1,601 Fund Finance 1,358 1,320 956 Lender Finance 1,865 1,602 931 Total Lower Loss Loans $8,459 $8,330 $6,172 Total Loans and Leases HFI $24,780 $25,033 $24,127 Lower Loss Loans / Total Loans and Leases HFI 34.1% 33.3% 25.6% First Quarter 2026 Earnings | 20

Average Total Securities Portfolio Balance & Total Yield(4) 1. Excludes FRB and FHLB stock. 2. AFS securities reflected at fair value; excludes $0.8mm loss reserve. 3. HTM securities reflected at amortized cost; excludes $0.7mm loss reserve. 4. Total securities yield of 3.38% and average securities portfolio balance includes FRB and FHLB stock. Total securities yield is calculated using average fair values for the quarter. Deployed liquidity to grow securities portfolio by 4% QoQ ❖ Average securities yield increased 17 bps QoQ from purchase of higher-yielding securities and special dividend received on FHLB stock of $1.3mm ❖ Unrealized pre-tax loss on AFS securities of $201mm, up $9mm QoQ driven primarily by an increase in interest rates ❖ Of the AFS securities portfolio, 81% is fixed rate, 12% is floating rate, and 7% is hybrid rate ❖ 1Q26 new investment yield of 4.7% ❖ 11% of AFS securities portfolio will contractually pay down and reprice within 1 year and 23% within three years ❖ 76% of total securities are AAA rated and 18% are AA rated HIGHLIGHTS $4.7 3.24% 1Q25 $4.8 3.18% 3Q25 $4.9 3.21% 4Q25 $5.0 3.38% 1Q262Q25 $4.7 3.20% Average Balance ($ in billions) Yield Investment Securities Portfolio (4) Yield Duration (yrs) Unrealized Unrealized 1Q26 4Q25 Variance 1Q26 1Q26 Loss 1Q26 Loss 4Q25 AFS - Gov't & Agency $1,970 $1,760 $210 3.89% 4.7 ($160) ($151) AFS - CLO's 200 201 (0) 5.40% 0.0 0 0 AFS - Corporate Bonds 233 242 (10) 5.85% 0.9 (14) (15) AFS - Non-Agency Securitizations 254 252 3 3.90% 3.9 (27) (26) AFS(2) $2,657 $2,455 $202 4.18% 4.0 ($201) ($192) HTM - Gov't & Agency 643 640 2 1.84% 4.9 (31) (28) HTM - Corporate Bonds 71 71 0 4.76% 3.8 (7) (6) HTM - Municipal Bonds 1,239 1,238 1 2.13% 7.6 (35) (19) HTM - Non-Agency Securitizations 362 360 1 2.40% 4.6 (13) (10) HTM(3) $2,314 $2,309 $5 2.16% 6.2 ($87) ($62) Total AFS + HTM Securities $4,971 $4,764 $207 3.38% 5.0 ($287) ($254) Security Type (1) ($ in millions) First Quarter 2026 Earnings | 21

10.45% 10.01% 10.18% 4Q25 1Q261Q25 8.02% 7.90% 7.97% 1Q25 4Q25 1Q26 CET 1 Ratio TCE Ratio(1) Note: 1Q26 regulatory capital ratios are preliminary. 1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. Healthy capital levels and continued growth in TBVPS Capital First Quarter 2026 Earnings | 22 1Q26 4Q25 1Q25 Regulatory Well- Capitalized Excess of Well- Capitalized Consolidated Company Total Risk-Based Ratio 16.55% 16.31% 16.93% 10.00% 6.55% Tier 1 Risk-Based Capital 12.54% 12.34% 12.86% 8.00% 4.54% CET 1 Ratio 10.18% 10.01% 10.45% 6.50% 3.68% Leverage Ratio 9.97% 9.99% 10.19% 5.00% 4.97% TCE Ratio (1) 7.97% 7.90% 8.02% NA NA TBVPS (1) $17.77 $17.51 $16.12 NA NA

IRR position remains largely neutral for NII sensitivity 1Q26 IRR position – NII impact ($B) ❖Gap between short-term (“ST”) liabilities and assets of $5.6B in 1Q26 compared to $5.2B at 4Q25 ❖When adjusted for deposit repricing betas, net interest income sensitivity is relatively neutral ❖We have the potential to outperform our modeled deposit betas in both up and down rate scenarios dependent on economic conditions ❖The impact of ECR costs on rate-sensitive deposits of $3.8B shifts this neutral interest rate sensitivity to liability sensitive for total earnings HIGHLIGHTS $15.2 $20.8 ST Assets ST Liabilities Asset / liability gap of ($5.6B) is largely neutral to NII when adjusting for deposit repricing betas 1Q26 IRR position – Total Earnings ($B) $15.2 $17.7 ST Assets ECR costs on deposits when adjusted for repricing betas shifts IRR position to liability sensitive with a repricing gap at ($2.5B) Cash / ST Investments / ST Loans Cash / ST Investments / ST Loans Variable Deposits / ST CDs / ST Borrowings Variable Deposits / ST CDs / ST Borrowings Interest Rate Sensitivity Note: Short Term (“ST”): Assets and liabilities expected to mature, reprice, or settle within one year. Rate sensitive defined as assets or liabilities that are repricing or maturing within one year. First Quarter 2026 Earnings | 23 ST Liabilities (Beta & ECR Adjusted) Ongoing balance sheet remixing will support further net interest income expansion, across all rate environments

2026 Outlook Key Factors Loans Deposits Pre-Tax Pre- Provision Income Noninterest expense Capital ❖ Full year growth of 20%-25% YoY ❖ Assumes no rate cuts in 2026 ❖ Continued NII growth and NIM expansion to drive positive operating leverage ❖ Full year growth of 3.0%-3.5% YoY ❖ Target adj. efficiency ratio of mid-50% ❖ May be impacted by HOA balance growth and/or further rate cuts ❖ ROAA ~1.1%+ ❖ ROTCE ~13%+ ❖ Continue to make consistent, meaningful progress toward goals ❖ Timing depends on continued execution of core strategy combined with macroeconomic environment ❖ Target mid single digit growth ❖ Driven by growth in commercial loans ❖ Dependent on economic conditions ❖ Target mid single digit growth ❖ Broad based growth across our businesses 2026 Outlook Outlook ❖ Target CET1 ratio of 10%+ ❖ Strategically deploy capital based on opportunities First Quarter 2026 Earnings | 24 FY 2026 Outlook remains unchanged from prior guidance Future state financial targets remain unchanged

Supplemental Information

Note: Common shares outstanding as of March 31, 2026 are 154,262,045. 1. Represents VWAP of shares repurchased. 2. Common shares outstanding are as of March 17, 2025 for 1Q25, March 31, 2025 for 2Q25, June 30, 2025 for 3Q25, September 30, 2025 for 4Q25 and December 31, 2025 for 1Q26. Total is based on share count from commencement of share repurchase program as of March 17, 2025. Delivering shareholder value through share repurchases Share repurchases First Quarter 2026 Earnings | 26 Share Repurchase Activity 1Q25 2Q25 3Q25 4Q25 1Q26 Total Repurchase Amount $38,545,698 $111,454,299 $35,498,391 - $31,942,722 $217,441,110 Price Per Share(1) $14.36 $12.65 $16.48 - $18.68 $14.16 Number of Shares Repurchased 2,684,823 8,809,814 2,153,792 - 1,709,935 15,358,364 Common Shares Outstanding(2) 169,083,588 166,403,086 157,467,137 155,522,693 155,533,403 169,083,588 % of Shares Repurchased 1.6% 5.3% 1.4% 0.0% 1.1% 9.1%

❖ 75% of total CRE portfolio located in California ❖ Total CRE has a low weighted average LTV of 59% ❖ Other Property Types includes mobile homes, gas stations, special use, schools, places of worship and restaurants 7.6% 6.7% 5.1% 2.9% 2.1% 2.6% 1.6% 1.8% Office Industrial Retail Hotel Health Facility Mixed Use Other Self Storage Other CRE as % of Total CRE Total CRE is well diversified across multiple industries • Total CRE comprises 46% of total loans HFI and Other CRE comprises 14% of total loans HFI • 82% of office collateral located in California, 12% in Colorado and 6% in other states • Multifamily has a low average LTV and a strong DSCR coverage ratio of 1.3x Note: CRE excludes government guaranteed CRE collateralized SBA loans. 1. Represents most recent appraisal or weighted-average LTV at origination. High quality CRE portfolio has low weighted-average LTV and strong debt-service coverage ratio (DSCR) HIGHLIGHTS CRE Portfolio First Quarter 2026 Earnings | 27 Property Type ($ in millions) Count 1Q26 4Q25 1Q26 % of Total CRE 1Q26 % of Total Loans HFI Avg Loan Size WA LTV(1) DSCR NPL % NPL $ Multifamily 1,238 $5,955 $6,089 53% 24% $4.8 59% 1.32 0.22% $13.2 Real Estate Construction 184 1,892 1,948 17% 8% 10.3 70% - 0.00% 0.0 Other CRE 952 3,444 3,648 31% 14% 3.6 53% 2.04 1.40% 48.4 Office 192 855 853 8% 3% 4.5 61% 2.44 1.94% 16.6 Industrial / Warehouse 314 760 755 7% 3% 2.4 47% 2.06 0.10% 0.7 Retail 176 580 555 5% 2% 3.3 52% 1.61 0.07% 0.4 Hotel 29 333 390 3% 1% 11.5 52% 1.90 7.46% 24.8 Self Storage 39 235 216 2% 1% 6.0 55% 1.49 0.00% 0.0 Mixed Use 35 208 213 2% 1% 6.0 52% 1.65 0.00% 0.0 Health Facility 28 181 207 2% 1% 6.5 58% 2.45 3.12% 5.7 Other Property Types 139 293 460 3% 1% 2.1 48% 2.34 0.04% 0.1 Total CRE 2,374 $11,292 $11,685 100% 46% $4.8 59% 1.58 0.55% $61.6

Noninterest Expense Detail ($mm) $27.8 $7.3 $62.2 $86.4 1Q25 $26.6 $9.4 $61.5 $88.4 2Q25 $26.2 $9.0 $61.6 $88.9 3Q25 $24.9 $7.1 $62.8 $85.9 4Q25 $23.7 $6.8 $59.8 $91.1 1Q26 $183.7 $185.9 $185.7 $180.6 $181.4 Compensation expense Other operating expenses Insurance and assessments Customer related expense Customer Related Expense ($mm) $23.6 $4.1 1Q25 $21.9 $4.7 2Q25 $21.7 $4.6 3Q25 $20.7 $4.1 4Q25 $19.8 $3.9 1Q26 $27.8 $26.6 $26.2 $24.9 $23.7 ECR Expense Other(1) 1. Other customer related expense includes deposit referral fees, armored car services, check printing expenses, and other miscellaneous expenses. ECR expenses declined QoQ due to impact of rate cuts 1Q25 2Q25 3Q25 4Q25 1Q26 $3,739 $3,728 $3,708 $3,697 $3,891 Average HOA Deposits ($mm) Customer Related Expense First Quarter 2026 Earnings | 28 HIGHLIGHTS ❖ Substantially all HOA deposits have ECR expenses ❖ Average HOA balances increased due to seasonality and business growth ❖ Total HOA deposit costs are 2.78% consisting of ECR expenses of 207 bps and deposit rate costs (through NIM) of 71 bps ❖ ECR indexed to Fed Funds rate with every 25 bps change corresponding to ~$6mm of annual ECR expense

Expect total project and investment spend of ~$19mm in 2026, with ~$7mm of planned expense in 2026 Project investment composition Revenue enhancing projects Back office and support projects Projects and Investments Note: Total project and investment spend includes costs that are both capitalized and expensed. First Quarter 2026 Earnings | 29 20% 80% Revenue Enhancing Back Office and Support Projects $3.7mm $14.9mm 19% 53% 28% Infrastructure Optimization/Scalability Regulatory/Compliance $7.9mm $4.1mm $2.9mm11% 8% 81% Sales Enablement Payments Business Specific $0.3mm $3.0mm $0.4mm

❖Uninsured and uncollateralized deposits of $7.8B, which represents ~28% of total deposits ❖Total primary and secondary liquidity was 1.8x uninsured and uncollateralized deposits Maintaining high levels of primary and secondary liquidity 1. Cash and cash equivalents figure presented as Bank only, excludes restricted cash. 2. Net of 7.1% haircut as of March 31, 2026. ($ in millions) 1Q26 Current Availability Utilization Capacity Primary Liquidity Cash and cash equivalents $2,046 AFS Securities (unpledged) 2,464 Total Primary Liquidity 4,510 Total Secondary Liquidity 9,721 2,476 12,197 Total Primary + Secondary Liquidity $14,231 Definitions Secondary Liquidity: Net available borrowing capacity with the FHLB and FRB. Primary liquidity: Cash and cash equivalents (excluding restricted cash) and the market value of unencumbered Available-For-Sale (“AFS”) securities, net of a haircut. These assets are (i) unencumbered, (ii) readily available for use, and (iii) can be readily sold or pledged under normal operating conditions and under a range of stress conditions. (1) (2) Liquidity First Quarter 2026 Earnings | 30 HIGHLIGHTS

Experienced Management Team with Track Record of Success at Leading Institutions Chris Blake Vice Chairman of the Bank 40+ years of banking experience, previously served as President & CEO, Community Bank Division, for PacWest Bancorp Scott Ladd Chief Credit Officer for Specialty Banking and Credit Operations 25+ years banking and consulting experience, previously served as EVP, Group Head, Portfolio Management at PacWest Bancorp Hamid Hussain President of the Bank 30+ years of banking experience, previously served as EVP, Real Estate Market Executive for Wells Fargo Bryan Corsini Chief Credit Officer 35+ years of banking experience, previously served as CCO of PacWest Bancorp and Director of Pacific Western Bank Ido Dotan General Counsel and Chief Administrative Officer 20+ years experience in corporate securities, M&A, and structured finance. Previously served as EVP of Carrington Mortgage Holdings Olivia Lindsay Chief Risk Officer 20+ years of experience in regulatory processes and controls, previously spent 15 years at MUFG Union Bank Steve Schwimmer Chief Information Officer 30+ years of experience in banking technology, previously served as the EVP, Chief Innovation Officer at PacWest Bancorp Sean Lynden President, Venture Banking Group 30+ years of banking and related experience. Previously served as President of Venture Banking Group for Pacific Western Bank Karen Hon Chief Accounting Officer & Deputy Chief Financial Officer 20+ years of finance & accounting experience, previously served as Chief Accounting Officer at Silicon Valley Bank Jared Wolff Chairman and Chief Executive Officer 30+ years of banking and law. Previously held senior executive positions with City National Bank (RBC) and PacWest Bancorp Joe Kauder Chief Financial Officer 30+ years of banking experience, previously served as EVP, CFO Wells Fargo Wholesale Banking Bill Rhodes Chief Internal Audit Officer 25+ years of banking and internal audit experience, previously served as CAE of Coastal Community Bank and Deputy CAE of Silicon Valley Bank First Quarter 2026 Earnings | 31

Appendix

Non-GAAP Financial Information Tangible assets, tangible common equity, tangible common equity ratio, tangible book value per common share, adjusted net earnings, adjusted return on average assets (“ROAA”), return on average tangible common equity, adjusted return on average tangible common equity, pre-tax pre-provision (“PTPP”) income, adjusted noninterest expense, efficiency ratio, adjusted efficiency ratio, adjusted ACL ratio, and economic coverage ratio constitute supplemental financial information determined by methods other than in accordance with GAAP. These non-GAAP measures are used by management in its analysis of the Company's performance. Tangible assets is calculated by subtracting goodwill and other intangible assets from total assets. Tangible common equity is calculated by subtracting preferred stock and goodwill and other intangible assets, as applicable, from stockholders’ equity. Return on average tangible common equity is calculated by dividing net earnings available to common stockholders, after adjustment for amortization of intangible assets and goodwill impairment, by average tangible common equity. Adjusted return on average tangible common equity is calculated by dividing adjusted net earnings available to common stockholders, after adjustment for amortization of intangible assets and goodwill impairment, by average tangible common equity. Banking regulators also exclude goodwill and other intangible assets from stockholders' equity when assessing the capital adequacy of a financial institution. Adjusted net earnings is calculated by adjusting net earnings by unusual, one-time items. ROAA is calculated by dividing annualized net earnings by average assets. Adjusted ROAA is calculated by dividing annualized adjusted net earnings by average assets. PTPP income is calculated by adding net interest income and noninterest income (total revenue) and subtracting noninterest expense. Adjusted noninterest expense is calculated by subtracting customer related expenses from noninterest expense. Efficiency ratio is calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs) by total revenue (the sum of net interest income and noninterest income, less gain (loss) on sale of securities). Adjusted efficiency ratio is calculated by dividing adjusted noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs, customer related expenses and any unusual one-item items) by adjusted total revenue (the sum of net interest income and noninterest income, less gain (loss) on sale of securities and customer related expense). Economic coverage ratio is calculated by dividing the allowance for credit losses adjusted for the impact of the credit- linked notes and unearned credit mark from purchase accounting by loans and leases held for investment. Core deposits is calculated as total deposits less brokered CDs and brokered non-maturity deposits. Core loan portfolio is calculated as total loans held for investment less premium finance loans, student loans, and Civic loans. Adjusted ACL ratio is calculated by dividing adjusted ACL for lower loss loan categories by adjusted loans and leases held for investment. Management believes the presentation of these financial measures adjusting the impact of these items provides useful supplemental information that is essential to a proper understanding of the financial results and operating performance of the Company. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. The following tables on pages 34-43 provide reconciliations of the non-GAAP measures to financial measures defined by GAAP. First Quarter 2026 Earnings | 33

Non-GAAP Reconciliation 1. Tangible common equity divided by tangible assets. 2. Total common equity divided by common shares outstanding. 3. Tangible common equity divided by common shares outstanding. 4. Common shares outstanding include non-voting common stock equivalents that are participating securities. ($ in thousands, except per share data) 1Q26 4Q25 3Q25 2Q25 1Q25 Tangible Common Equity Ratio Total stockholders' equity $3,553,326 $3,541,277 $3,466,739 $3,426,843 $3,521,656 Less: preferred stock 498,516 498,516 498,516 498,516 498,516 Total common equity 3,054,810 3,042,761 2,968,223 2,928,327 3,023,140 Less: goodwill and intangible assets 313,612 319,808 326,444 333,451 340,458 Tangible common equity $2,741,198 $2,722,953 $2,641,779 $2,594,876 $2,682,682 Total assets 34,724,241 34,797,442 34,012,965 34,250,453 33,779,918 Less: goodwill and intangible assets 313,612 319,808 326,444 333,451 340,458 Tangible assets $34,410,629 $34,477,634 $33,686,521 $33,917,002 $33,439,460 Total stockholders' equity to total assets 10.23% 10.18% 10.19% 10.01% 10.43% Tangible common equity ratio(1) 7.97% 7.90% 7.84% 7.65% 8.02% Book value per common share(2) $19.80 $19.56 $19.09 $18.58 $18.17 Tangible book value per common share (TBVPS)(3) $17.77 $17.51 $16.99 $16.46 $16.12 Common shares outstanding(4) 154,262,045 155,533,403 155,522,693 157,647,137 166,403,086 First Quarter 2026 Earnings | 34

1. Effective tax rates of 25.14%, 26.86%, 27.34%, 23.12%, and 25.30%, used for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively. 2. Annualized net earnings divided by average stockholders' equity. 3. Annualized adjusted net earnings available to common and equivalent stockholders for ROATCE divided by average tangible common equity. 4. Annualized adjusted net earnings available to common and equivalent stockholders for adjusted ROATCE divided by average tangible common equity. Non-GAAP Reconciliation First Quarter 2026 Earnings | 35 ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Return on Average Tangible Common Equity ("ROATCE") Net earnings $71,952 $77,391 $69,629 $28,385 $53,568 Earnings before income taxes $73,061 Add: Intangible asset amortization 7,160 Adjusted earnings before income used for ROATCE 80,221 Adjusted income tax expense (1) 20,296 Adjustments: Intangible asset amortization 6,348 6,788 7,160 7,159 Tax impact of adjustment above (1) (1,596) (1,823) (1,958) (1,655) Adjustment to net earnings 4,752 4,965 5,202 5,504 Adjusted net earnings for ROATCE 76,704 82,356 74,831 33,889 59,925 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net earnings available to common and equivalent stockholders for ROATCE $66,757 $72,409 $64,884 $23,942 $49,978 Net earnings $71,952 $77,391 $69,629 $28,385 $53,568 Earnings before income taxes $73,061 Add: Intangible asset amortization 7,160 Adjusted earnings before income used for ROATCE 80,221 Adjusted income tax expense (1) 20,296 Adjustments: Intangible asset amortization 6,348 6,788 7,160 7,159 Provision for credit losses related to transfer of loans to held for sale - - - 26,289 Total adjustments 6,348 6,788 7,160 33,448 Tax impact of adjustments above (1) (1,596) (1,823) (1,958) (7,733) Income tax related adjustments - - - 9,792 Adjustment to net earnings 4,752 4,965 5,202 35,507 Adjusted net earnings for adjusted ROATCE 76,704 82,356 74,831 63,892 59,925 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net earnings available to common and equivalent stockholders for adjusted ROATCE $66,757 $72,409 $64,884 $53,945 $49,978 Average total stockholders' equity 3,548,700 3,494,157 3,437,335 3,430,143 3,524,181 Less: Average goodwill and intangible assets 317,215 323,295 330,277 337,352 344,610 Less: Average preferred stock 498,516 498,516 498,516 498,516 498,516 Average tangible common equity $2,732,969 $2,672,346 $2,608,542 $2,594,275 $2,681,055 Return on average equity (2) 8.22% 8.79% 8.04% 3.32% 6.16% Return on average tangible common equity (3) 9.91% 10.75% 9.87% 3.70% 7.56% Adjusted return on average tangible common equity (4) 9.91% 10.75% 9.87% 8.34% 7.56%

1. Effective tax rates of 25.14%, 26.86%, 27.34%, 23.12%, and 25.30%, used for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively. 2. Adjusted net earnings available to common and equivalent stockholders divided by weighted average common shares outstanding. 3. Annualized net earnings divided by average assets. 4. Annualized adjusted net earnings divided by average assets. Non-GAAP Reconciliation First Quarter 2026 Earnings | 36 ($ in thousands, except per share amounts) 1Q26 4Q25 3Q25 2Q25 1Q25 Net earnings $71,952 $77,391 $69,629 $28,385 $53,568 Earnings before income taxes $73,061 Add: FDIC special assessment - Adjusted earnings before income taxes 73,061 Adjusted income tax expense(1) 19,493 Adjustments: Provision for credit losses related to transfer of loans to held for sale 26,289 Tax impact of adjustment above(1) (6,078) Income tax related adjustments 9,792 Adjustment to net earnings 30,003 Adjusted net earnings 71,952 77,391 69,629 58,388 53,568 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net earnings available to common and equivalent stockholders $62,005 $67,444 $59,682 $48,441 $43,621 Weighted average diluted common shares outstanding 160,832 160,094 159,051 158,462 169,434 Diluted earnings per common share $0.39 $0.42 $0.38 $0.12 $0.26 Adjusted diluted earnings per common share(2) $0.39 $0.42 $0.38 $0.31 $0.26 Average total assets $34,002,701 $33,752,500 $33,831,217 $33,764,149 $33,308,385 Return on average assets ("ROAA")(3) 0.86% 0.91% 0.82% 0.34% 0.65% Adjusted ROAA(4) 0.86% 0.91% 0.82% 0.69% 0.65% Adjusted Net Earnings

Non-GAAP Reconciliation First Quarter 2026 Earnings | 37 ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 PTPP Income Net interest income $251,617 $251,362 $253,444 $240,216 $232,364 Add: Noninterest income 35,328 41,571 34,285 32,633 33,650 Total revenue 286,945 292,933 287,729 272,849 266,014 Less: Noninterest expense (181,391) (180,644) (185,684) (185,869) (183,653) Pre-tax, pre-provision ("PTPP") income $105,554 $112,289 $102,045 $86,980 $82,361

1. Noninterest expense used for efficiency ratio divided by total revenue used for efficiency ratio. 2. Noninterest expense used for adjusted efficiency ratio divided by total revenue used for adjusted efficiency ratio. Non-GAAP Reconciliation First Quarter 2026 Earnings | 38 ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Adjusted Efficiency Ratio Noninterest expense $181,391 $180,644 $185,684 $185,869 $183,653 Less: Intangible asset amortization (6,348) (6,788) (7,160) (7,159) (7,160) Less: Acquisition, integration, and reorganization costs - - - - - Noninterest expense used for efficiency ratio $175,043 $173,856 $178,524 $178,710 $176,493 Less: Customer related expense (23,737) (24,870) (26,227) (26,577) (27,751) Noninterest expense used for adjusted efficiency ratio $151,306 $148,986 $152,297 $152,133 $148,742 Net interest income $251,617 $251,362 $253,444 $240,216 $232,364 Noninterest income 35,328 41,571 34,285 32,633 33,650 Total Revenue $286,945 $292,933 $287,729 $272,849 $266,014 Add: Loss on sale of securities - - - - - Total revenue used for efficiency ratio $286,945 $292,933 $287,729 $272,849 $266,014 Less: Customer related expense (23,737) (24,870) (26,227) (26,577) (27,751) Total revenue used for adjusted efficiency ratio $263,208 $268,063 $261,502 $246,272 $238,263 Noninterest expense to total revenue 63.21% 61.67% 64.53% 68.12% 69.04% Efficiency ratio(1) 61.00% 59.35% 62.05% 65.50% 66.35% Adjusted efficiency ratio(2) 57.49% 55.58% 58.24% 61.77% 62.43%

($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Noninterest expense $181,391 $180,644 $185,684 $185,869 $183,653 Less: Customer related expense (23,737) (24,870) (26,227) (26,577) (27,751) Adjusted noninterest expense $157,654 $155,774 $159,457 $159,292 $155,902 Average assets $34,002,701 $33,752,500 $33,831,217 $33,764,149 $33,308,385 Noninterest expense to average total assets 2.16% 2.12% 2.18% 2.21% 2.24% Adjusted noninterest expense to average total assets 1.88% 1.83% 1.87% 1.89% 1.90% Adjusted Noninterest Expense to Average Total Assets Non-GAAP Reconciliation First Quarter 2026 Earnings | 39

($ in millions) 1Q26 4Q25 1Q25 Total Deposits $27,322 $27,843 $27,193 Less: Brokered CDs (2,562) (2,433) (1,995) Less: Brokered Non-maturity Deposits (226) (480) (667) Total Core Deposits $24,534 $24,930 $24,531 Core Deposits Non-GAAP Reconciliation First Quarter 2026 Earnings | 40

Non-GAAP Reconciliation ($ in millions) 1Q26 4Q25 Total Loans HFI $24,780 $25,033 Discontinued Area Loans: Less: Premium Finance Loans (408) (448) Less: Student Loans (250) (262) Less: Civic Loans (27) (39) Total Discontinued Area Loans (685) (749) Total Core Loans $24,095 $24,284 Core Loans First Quarter 2026 Earnings | 41

Non-GAAP Reconciliation 1. Unearned credit mark from purchase accounting estimated by using the same pro rata split between the credit and yield marks associated with the non-PCD loans (purchased loans without credit deterioration at the time of the purchase) at the time of the acquisition. 2. Credit-linked notes loss coverage equal to 5% of the unpaid principal balance of the pledged loans. 3. Allowance for credit losses divided by loans and leases held for investment. 4. Adjusted allowance for credit losses divided by loans and leases held for investment. ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Allowance for credit losses ("ACL") $276,521 $280,533 $270,722 $258,565 $264,557 Add: Unearned credit mark from purchase accounting (1) 14,315 15,865 17,496 19,199 20,870 Add: Credit-linked notes(2) 104,988 108,413 110,539 112,887 115,188 Adjusted allowance for credit losses $395,824 $404,811 $398,757 $390,651 $400,615 Loans and leases held for investment $24,780,347 $25,032,679 $24,110,642 $24,245,893 $24,126,527 ACL to loans and leases held for investment(3) 1.12% 1.12% 1.12% 1.07% 1.10% Economic coverage ratio(4) 1.60% 1.62% 1.65% 1.61% 1.66% Economic Coverage Ratio First Quarter 2026 Earnings | 42

Non-GAAP Reconciliation 1. Lower loss loan categories include warehouse lending loans, equity fund loans, lender finance loans, and residential mortgage loans. 2. ACL divided by loans and leases held for investment. 3. Adjusted ACL for lower loss loan categories (includes SFR, Warehouse, Fund Finance, and Lender Finance) divided by adjusted loans and leases held for investment. ($ in thousands) 1Q26 Allowance for credit losses ("ACL") $276,521 Less: ACL on lower loss loan categories: ACL on warehouse lending loan portfolio (2,822) ACL on equity fund loan portfolio (426) ACL on lender finance loan portfolio (6,268) ACL on single family residential mortgage loans (4,873) Adjusted ACL for total lower loss loan categories(1) $262,132 Loans and leases held for investment $24,780,347 Less: Lower loss loan categories: Warehouse lending loan portfolio (1,804,612) Equity fund loan portfolio (1,357,740) Lender finance loan portfolio (1,865,118) Single family residential mortgage loans (3,431,033) Adjusted loans and leases held for investment(1) $16,321,844 ACL to loans and leases held for investment(2) 1.12% Adjusted ACL excluding SFR loans 1.27% Adjusted ACL excluding SFR and warehouse loans 1.38% Adjusted ACL for total lower loss loan categories to adjusted loans and leases held for investment(3) 1.61% Adjusted ACL for Lower Loss Loan Categories Ratio First Quarter 2026 Earnings | 43

Source: View Original Filing on SEC EDGAR

FAQ

How did Banc of California (BANC) perform financially in Q1 2026?

Banc of California reported net earnings available to common and equivalent stockholders of $62.0 million, or $0.39 diluted EPS, for Q1 2026. Total revenue reached $286.9 million, up 8% year over year, while pre-tax pre-provision income increased 28% to $105.6 million.

What happened to Banc of California’s net interest margin and funding costs in Q1 2026?

Net interest margin improved to 3.24% in Q1 2026 from 3.08% a year earlier. The average total cost of deposits decreased to 1.78%, and the average total cost of funds fell to 2.10%, reflecting lower deposit costs after federal funds rate cuts and balance sheet remixing.

How strong are Banc of California’s capital ratios after Q1 2026?

At March 31, 2026, the holding company reported an estimated 12.54% Tier 1 capital ratio and 10.18% common equity Tier 1 ratio. Book value per share was $19.80 and tangible book value per share was $17.77, both up solidly year over year.

What trends did Banc of California (BANC) report in asset quality for Q1 2026?

Asset quality softened, with total delinquent loans and leases rising to $345.1 million, or 1.39% of loans and leases held for investment. Nonperforming loans and leases increased to $185.7 million, and annualized net charge-offs reached 0.23% of average loans and leases.

How large was Banc of California’s allowance for credit losses at the end of Q1 2026?

The allowance for credit losses on loans totaled $276.5 million at March 31, 2026, equal to 1.12% of total loans and leases held for investment. Including credit-linked notes and unearned credit marks, the economic coverage ratio was 1.60%.

Did Banc of California repurchase shares or debt in Q1 2026?

Yes. Banc of California repurchased 1,709,935 common and equivalent shares for $31.9 million at an average price of $18.68. The company extended its $300 million stock repurchase program through March 2027 and announced plans to redeem $385 million of subordinated debt.

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Earnings rise at Banc of California (NYSE: BANC) as margin widens

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FAQ

How did Banc of California (BANC) perform financially in Q1 2026?

What happened to Banc of California’s net interest margin and funding costs in Q1 2026?

How strong are Banc of California’s capital ratios after Q1 2026?

What trends did Banc of California (BANC) report in asset quality for Q1 2026?

How large was Banc of California’s allowance for credit losses at the end of Q1 2026?

Did Banc of California repurchase shares or debt in Q1 2026?

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Earnings rise at Banc of California (NYSE: BANC) as margin widens

Rhea-AI Filing Summary

Positive

Negative

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Banking sector equity analyst neutral

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did Banc of California (BANC) perform financially in Q1 2026?

What happened to Banc of California’s net interest margin and funding costs in Q1 2026?

How strong are Banc of California’s capital ratios after Q1 2026?

What trends did Banc of California (BANC) report in asset quality for Q1 2026?

How large was Banc of California’s allowance for credit losses at the end of Q1 2026?

Did Banc of California repurchase shares or debt in Q1 2026?

Filing Exhibits & Attachments

Press Releases

Other Documents