Detailed financial statements for Banc of California, Inc. (BANC): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
Banc of California, Inc. is a financial holding company that, through its subsidiary Banc of California, National Association, delivers a full spectrum of banking products and services across the United States. The company's offerings encompass a variety of deposit solutions, including checking, savings, money market, and retirement accounts, alongside both interest-bearing and non-interest-bearing demand accounts, and certificates of deposit.
Analysis Summary
Banc of California, Inc. reported revenue of $1.11B in the most recent fiscal year, growing at a 5-year CAGR of 35.5%. Net income reached $229.0M, with a 78.7% 5-year CAGR.
Trailing-twelve-month margins: gross margin 53.2%, operating margin -1.1%, net margin -0.4%. Free cash flow grew at 27.5% CAGR over 5 years.
At $18.50 (closing price, November 2, 2026), BANC has negative trailing earnings (P/E not meaningful) and an ROE of -0.23%. Market capitalisation stands at $2.9B.
Balance sheet quality for BANC: debt-to-equity ratio of 0.89, current ratio of 0.25 over the last 12 months, net cash position of $4.21B at the end of the last fiscal year. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $234.8M represents 103% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $395.7M | $343.0M | $312.3M | $260.3M | $243.5M | $1.28B | $1.34B | $278.4M | $985.9M | $1.11B |
| Cost of Revenue | $1.9M | $11.9M | $28.6M | $35.2M | $29.0M | -$107.1M | $24.5M | $52.0M | $42.8M | $48.4M |
| Gross Profit | $393.7M | $331.1M | $283.6M | $225.1M | $214.4M | $1.44B | $1.32B | $226.4M | $943.1M | $1.06B |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $153.0M | $134.5M | $122.6M | $114.3M | $96.8M | $385.8M | $432.3M | $468.0M | $412.2M | $557.8M |
| Operating Expenses | $293.3M | $304.2M | $236.6M | $197.1M | $200.1M | $620.4M | $748.9M | $2.44B | $774.4M | $737.3M |
| Operating Income | $100.5M | $26.9M | $47.0M | $28.0M | $14.4M | $822.3M | $567.6M | -$2.21B | $168.7M | $325.6M |
| EBITDA | $117.0M | $43.2M | $60.9M | $46.6M | $32.2M | $917.7M | $665.0M | -$2.12B | $290.1M | $426.6M |
| Interest Expense | $59.5M | $85.0M | $136.7M | $142.9M | $66.0M | $54.9M | $265.7M | $1.22B | $886.7M | $699.3M |
| Pre-tax Income | $100.5M | $26.9M | $47.0M | $28.0M | $14.4M | $822.3M | $567.6M | -$2.21B | $168.7M | $313.1M |
| Income Tax | $13.7M | -$26.6M | $4.8M | $4.2M | $1.8M | $215.4M | $144.0M | -$312.2M | $41.8M | $84.1M |
| Net Income | $115.4M | $57.7M | $45.5M | $23.8M | $12.6M | $607.0M | $423.6M | -$1.90B | $126.9M | $229.0M |
| EPS | $1.97 | $0.47 | $0.37 | $0.05 | -$0.02 | $0.95 | $0.85 | -$22.71 | $0.52 | $1.18 |
| EPS (Diluted) | $1.94 | $0.47 | $0.37 | $0.05 | -$0.02 | $0.95 | $0.85 | -$22.71 | $0.52 | $1.18 |
| Shares Outstanding (Diluted) | 120.2 M | 121.6 M | 123.6 M | 119.0 M | 116.9 M | 117.3 M | 143.0 M | 143.0 M | 168.7 M | 160.1 M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $286.4M | $292.9M | $286.9M | $250.5M |
| Gross Profit | $286.4M | $292.9M | $277.1M | $88.7M |
| Operating Income | $92.3M | $112.3M | $95.8M | -$335.2M |
| EBITDA | $117.6M | $136.6M | $118.7M | -$309.3M |
| Net Income | $69.6M | $77.4M | $72.0M | -$240.2M |
| EPS | $0.38 | $0.42 | $0.40 | -$1.61 |
| EPS (Diluted) | $0.38 | $0.42 | $0.45 | -$1.61 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $440.5M | $387.7M | $391.6M | $373.5M | $220.8M | $228.1M | $2.24B | $5.38B | $2.50B | $2.31B |
| Short-term Investments | $2.38B | $2.58B | $1.99B | $912.6M | $1.23B | $1.32B | $4.84B | $2.35B | $2.25B | $4.92B |
| Receivables | $16.0M | $8.7M | $2.7M | $4.2M | $1.1M | $8.0M | $247.0M | $172.8M | $143.5M | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $2.84B | $2.97B | $2.39B | $1.29B | $1.45B | $1.55B | $7.36B | $7.94B | $4.93B | $7.23B |
| Property, Plant & Equipment | $140.9M | $135.7M | $129.4M | $150.6M | $141.2M | $112.9M | $584.8M | $624.2M | $549.8M | $146.7M |
| Goodwill | $37.1M | $37.1M | $37.1M | $37.1M | $37.1M | $94.3M | $1.38B | $198.6M | $214.5M | $214.5M |
| Intangible Assets | $53.6M | $43.1M | $6.3M | $4.2M | $2.6M | $6.4M | $31.4M | $165.5M | $132.9M | $105.3M |
| Total Assets | $11.03B | $10.33B | $10.63B | $7.83B | $7.88B | $9.43B | $41.23B | $38.53B | $33.54B | $34.80B |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-term Debt | 0 | 0 | 0 | 0 | 0 | $25.0M | 0 | $2.62B | 0 | 0 |
| Total Current Liabilities | $9.22B | $7.43B | $7.99B | $5.52B | $6.16B | $7.58B | $34.05B | $33.02B | $27.19B | $28.24B |
| Long-term Debt | $733.3M | $1.87B | $1.69B | $1.37B | $796.1M | $750.4M | $2.63B | $1.23B | $2.33B | $3.02B |
| Total Liabilities | $10.05B | $9.32B | $9.68B | $6.92B | $6.98B | $8.36B | $37.28B | $35.14B | $30.04B | $31.26B |
| Retained Earnings | $134.5M | $144.8M | $141.0M | $127.7M | $110.2M | $147.9M | $1.42B | -$518.3M | -$431.2M | -$242.0M |
| Total Equity | $980.2M | $1.01B | $945.5M | $907.2M | $897.2M | $1.07B | $3.95B | $3.39B | $3.50B | $3.54B |
| Total Debt | $733.3M | $1.87B | $1.69B | $1.39B | $816.8M | $816.1M | $2.63B | $3.85B | $2.33B | $3.02B |
| Net Debt | -$2.09B | -$1.10B | -$690.9M | $106.1M | -$635.5M | -$727.7M | -$4.45B | -$3.88B | -$2.42B | -$4.21B |
| Working Capital | -$6.39B | -$4.46B | -$5.60B | -$4.23B | -$4.70B | -$6.03B | -$26.69B | -$25.08B | -$22.26B | -$21.01B |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $2.40B | $2.31B | $253.9M | $2.82B |
| Total Assets | $34.01B | $34.80B | $34.72B | $34.81B |
| Total Liabilities | $30.55B | $31.26B | $31.17B | $31.62B |
| Total Equity | $3.47B | $3.54B | $3.55B | $3.19B |
| Total Debt | $2.96B | $3.02B | $3.51B | $3.03B |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $115.4M | $57.7M | $45.5M | $23.8M | $12.6M | $607.0M | $423.6M | -$1.90B | $126.9M | $229.0M |
| Depreciation & Amortization | $16.5M | $16.4M | $13.9M | $18.6M | $17.8M | $95.3M | $97.4M | $91.3M | $121.4M | $101.0M |
| Stock-based Compensation | $11.9M | $12.1M | $6.6M | $5.0M | $5.8M | $32.2M | $34.8M | $28.7M | $15.4M | $23.4M |
| Change in Working Capital | -$15.3M | -$64.2M | $19.6M | -$19.1M | -$8.8M | -$108.5M | -$5.4M | -$169.6M | -$207.8M | -$103.9M |
| Operating Cash Flow | $18.1M | $563.0M | $123.0M | $80.3M | $74.9M | $503.0M | $702.0M | $135.8M | $77.4M | $255.6M |
| Capital Expenditure | -$44.7M | -$15.3M | -$9.0M | -$10.5M | -$5.1M | -$48.0M | -$120.9M | -$15.2M | -$13.0M | -$20.8M |
| Acquisitions | $247.2M | $56.1M | 0 | 0 | 0 | $3.76B | 0 | $335.3M | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | -$1.0M | -$13.0M | -$100.8M | -$9.5M | 0 | 0 | -$187.7M |
| Dividends Paid | -$41.5M | -$46.2M | -$54.7M | -$31.3M | -$25.7M | -$127.8M | -$139.6M | -$88.7M | -$108.1M | -$103.7M |
| Free Cash Flow | -$26.6M | $547.7M | $114.0M | $69.8M | $69.8M | $454.9M | $581.1M | $120.5M | $64.3M | $234.8M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | $75.7M | $102.1M | $49.0M | $161.4M |
| Capital Expenditure | -$185,000 | -$17.9M | -$3.4M | $3.4M |
| Free Cash Flow | $75.5M | $84.2M | $45.6M | $164.8M |
| Dividends Paid | -$26.1M | -$24.1M | -$28.8M | -$28.9M |
| Stock-based Compensation | $6.1M | $5.3M | $5.6M | $4.2M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -13.3% | -9.0% | -16.6% | -6.5% | +426.0% | +4.7% | -79.2% | +254.1% | +12.7% | |
| Net Income Growth (YoY) | -50.0% | -21.2% | -47.8% | -47.1% | +4,727.1% | -30.2% | -548.3% | +106.7% | +80.5% | |
| EPS Growth (YoY) | -76.1% | -21.3% | -86.5% | -140.0% | +4,850.0% | -10.5% | -2,771.8% | +102.3% | +126.9% | |
| Shares Change (YoY) | +1.1% | +1.7% | -3.8% | -1.8% | +0.4% | +21.9% | +0.0% | +18.0% | -5.1% | |
| FCF Growth (YoY) | +2,161.3% | -79.2% | -38.8% | -0.0% | +552.0% | +27.7% | -79.3% | -46.6% | +265.0% | |
| Gross Margin | 99.5% | 96.5% | 90.8% | 86.5% | 88.1% | 112.6% | 98.2% | 81.3% | 95.7% | 95.6% |
| Operating Margin | 25.4% | 7.8% | 15.0% | 10.7% | 5.9% | 64.2% | 42.3% | -794.3% | 17.1% | 29.3% |
| EBITDA Margin | 29.6% | 12.6% | 19.5% | 17.9% | 13.2% | 71.7% | 49.6% | -761.6% | 29.4% | 38.4% |
| Net Margin | 29.2% | 16.8% | 14.6% | 9.1% | 5.2% | 47.4% | 31.6% | -682.2% | 12.9% | 20.6% |
| FCF Margin | -6.7% | 159.7% | 36.5% | 26.8% | 28.7% | 35.5% | 43.3% | 43.3% | 6.5% | 21.1% |
| Effective Tax Rate | 13.7% | -98.8% | 10.3% | 15.1% | 12.4% | 26.2% | 25.4% | 14.1% | 24.8% | 26.9% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | -$0.22 | $4.50 | $0.92 | $0.59 | $0.60 | $3.88 | $4.06 | $0.84 | $0.38 | $1.47 |
| Dividends Per Share | $0.34 | $0.38 | $0.44 | $0.26 | $0.22 | $1.09 | $0.98 | $0.62 | $0.64 | $0.65 |
| Shares Outstanding (Basic) | 120.2 M | 121.6 M | 123.6 M | 119.0 M | 116.8 M | 117.3 M | 143.0 M | 143.0 M | 168.4 M | 155.4 M |
What to look at in Banking companies
- Efficiency Ratio (<=55%) — Operating expenses / revenue. Top banks below 55%.
- ROA (>=1%) — How much they earn per dollar of assets. ROE misleads in banks due to leverage.
- ROTCE (>=12%) — Return on Tangible Common Equity. Strips goodwill and intangibles.
- Equity / Assets (Tier 1 proxy) (>=8%) — Capital ratio proxy. Regulatory Tier 1 is not in our data.
- P/B (1.0-1.5x) — Classic banking metric. <1x can be opportunity or distress.
- Sustainable dividend yield (>=2%, <8%) — EU banks pay 5-7% normally. >8% is distress signal.
Profitability
| Return on Equity | -0.23% |
| Return on Invested Capital | -0.07% |
| Return on Assets | -0.02% |
| Gross Margin | 53.20% |
| Operating Margin | -1.07% |
| Net Margin | -0.44% |
Financial Health
| Debt / Equity | 0.89 |
| Current Ratio | 0.25 |
| Piotroski F-Score | 7 |
| Altman Z-Score | -0.59 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 8.81 | 43.94 | 35.97 | 343.60 | -735.50 | 20.65 | 18.74 | -0.59 | 29.73 | 16.35 |
| P/B | 2.13 | 2.48 | 1.74 | 2.25 | 1.92 | 2.16 | 0.58 | 0.57 | 0.74 | 0.85 |
| P/S | 5.27 | 7.32 | 5.27 | 7.85 | 7.06 | 1.80 | 1.70 | 6.90 | 2.64 | 2.70 |
| Gross Margin | 86.5% | 77.4% | 63.2% | 55.8% | 69.3% | 108.0% | 81.9% | 15.1% | 50.4% | 58.7% |
| Operating Margin | 25.4% | 7.8% | 15.0% | 10.7% | 5.9% | 64.2% | 42.3% | -794.3% | 17.1% | 29.3% |
| Net Margin | 29.2% | 16.8% | 14.6% | 9.1% | 5.2% | 47.4% | 31.6% | -682.2% | 12.9% | 20.6% |
Related companies: WSBC · SBCF · SFNC · CVBF · TOWN · CBU · BOH · PFS
Explore sector: Financial Services · Banks - Regional
More sections of BANC: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Companies that pass the Buffett method · Companies that pass the Lynch method · Stocks that pass Graham's defensive investor test today · Investment Academy — learn to analyze stocks