Banc of California: Q3 Earnings Snapshot
By AP News
Published - Oct 22, 2024, 06:17 AM ET
Last Updated - Dec 16, 2024, 06:08 PM EST
LOS ANGELES (AP) — LOS ANGELES (AP) — Banc of California Inc. (BANC) on Tuesday reported third-quarter earnings of $8.8 million.
The Los Angeles-based bank said it had a loss of 1 cent per share. Earnings, adjusted for non-recurring costs, were 25 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The banking service and lending company posted revenue of $431.4 million in the period. Its revenue net of interest expense was $276.7 million, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $229.5 million.
