Banc of California Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag

editorial-team@simplywallst.com (Simply Wall St)

Thu, Mar 6, 2025, 4:36 AM 1 min read

Banc of California (NYSE:BANC) Full Year 2024 Results

Key Financial Results

Revenue: US$960.4m (up 289% from FY 2023).
Net income: US$87.2m (up from US$1.94b loss in FY 2023).
Profit margin: 9.1% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue.
EPS: US$0.52 (up from US$22.71 loss in FY 2023).

BANC Banking Performance Indicators

Net interest margin (NIM): 2.85% (up from 1.98% in FY 2023).
Non-performing loans: 0.80% (up from 0.29% in FY 2023).

revenue-and-expenses-breakdown — NYSE:BANC Revenue and Expenses Breakdown March 6th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

Banc of California EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 12%.

In the last 12 months, the only revenue segment was Commercial Banking contributing US$960.4m. The largest operating expense was General & Administrative costs, amounting to US$520.9m (60% of total expenses). Explore how BANC's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 3.7% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Banc of California's balance sheet.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.