- Banc of California (BANC, Financial) reports Q1 2025 earnings of $0.26 per diluted share, with a 6% annualized loan growth.
- The company doubles its stock repurchase program to $300 million.
- Total loans increased by $344.9 million to $24.1 billion during Q1 2025.
Banc of California, Inc. (BANC), a prominent bank holding company, reported first-quarter 2025 financial results with a diluted earnings per share of $0.26. The company observed a 6% annualized loan growth as of the end of March 2025, driven by an increase in commercial and industrial loan portfolios.
The company's net earnings available to common and equivalent stockholders amounted to $43.6 million, contrasting with $47.0 million in the previous quarter. The bank enhanced its stock buyback program from $150 million to $300 million, having already repurchased shares worth $150 million by April 21, 2025.
Key growth indicators included total loans amounting to $24.1 billion, representing a $344.9 million increase from the previous quarter. New loan originations totaled $2.6 billion, with a weighted average interest rate of 7.20%.
Furthermore, Banc of California reported a 4 basis point increase in net interest margin to 3.08%, attributed to reduced deposit costs. The company maintained a strong liquidity position with available liquidity and unused borrowing capacity of $15.1 billion as of March 31, 2025.
Jared Wolff, President & CEO of Banc of California, highlighted the company's sustained strong market position and commitment to delivering great returns to shareholders, despite uncertainties in the economic outlook. The company continues to focus on expanding client relationships and loan offerings while maintaining stable deposits.
