BANC

MKT CAP:$3B

Banc of California, Inc.

Market Cap

$3B

Financial Services·Banks - Regional·🇺🇸 United States·NYSE

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$18.88-$0.57 (-2.93%)

Apr 23, 2026

Company Details

Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, m...

CEO

Jared Wolff

IPO Date

Aug 23, 2002

Website

bancofcal.com

Key Metrics TTM

Revenue

$1.7B

-8.0% YoY

Net Income

$247M

EPS (Diluted)

$1.37

Free Cash Flow

$235M

Revenue / Share

$10.36

Gross Margin

48.8%

Operating Margin

21.0%

Net Margin

14.9%

FCF Margin

14.1%

P/S

1.7x

P/E

11.6x

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$287M-34.5%EPS $0.45

FY 2025

Feb 27, 2026

$1.8B-3.3%EPS $1.18

Q4 2025

Feb 27, 2026

$459M+2.1%EPS $0.42

Q3 2025

Nov 10, 2025

$466M+8.9%EPS $0.38

Q2 2025

Aug 8, 2025

$448M-8.2%EPS $0.12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$90M	$114M	$67M
Q2 22	$96M	$86M	$37M
Q3 22	$102M	$85M	$34M
Q4 22	$103M	$79M	$31M
Q1 23	$548M	$306M	-$1.3B
Q2 23	$407M	$51M	-$264M
Q3 23	$486M	$170M	-$27M
Q1 24	$508M	$248M	$42M
Q2 24	$488M	$244M	$45M
Q3 24	$427M	$204M	$12M
Q4 24	$449M	$247M	$70M
Q1 25	$438M	$254M	$73M
Q2 25	$448M	$230M	$48M
Q3 25	$466M	$286M	$92M
Q4 25	$459M	$293M	$112M
Q1 26	$287M	$0	$96M

Valuation

Quarter	P/S	P/E
Q1 22	7.5x	22.3x
Q2 22	6.3x	18.0x
Q3 22	5.3x	15.8x
Q4 22	3.3x	10.8x
Q1 23	1.7x	—
Q2 23	1.2x	—
Q3 23	0.8x	—
Q1 24	1.3x	—
Q2 24	1.1x	—
Q3 24	1.3x	53.3x
Q4 24	1.4x	20.7x
Q1 25	1.3x	16.0x
Q2 25	1.3x	16.0x
Q3 25	1.5x	12.7x
Q4 25	1.7x	13.5x
Q1 26	1.6x	10.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$12M	$11M
Q1 22	$5M	$5M
Q2 22	$70M	$48M
Q3 22	$35M	$34M
Q4 22	$26M	$22M
Q1 23	-$37M	-$51M
Q2 23	$61M	$66M
Q3 23	$30M	$27M
Q1 24	-$88M	-$93M
Q2 24	$39M	$31M
Q3 24	$47M	$51M
Q4 24	$80M	$76M
Q1 25	$15M	$14M
Q2 25	$63M	$61M
Q3 25	$76M	$75M
Q4 25	$102M	$84M

Capital Expenditures

Quarter	CapEx
Q3 21	$538.0K
Q1 22	$529.0K
Q2 22	$21M
Q3 22	$1M
Q4 22	$4M
Q1 23	$14M
Q2 23	$5M
Q3 23	$3M
Q1 24	$5M
Q2 24	$8M
Q3 24	$4M
Q4 24	$4M
Q1 25	$2M
Q2 25	$1M
Q3 25	$185.0K
Q4 25	$18M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+12.0%	-55.9%
Q2 22	+31.0%	+4.3%
Q3 22	+39.0%	+42.1%
Q4 22	+32.8%	+58.5%
Q1 23	+507.3%	+7801.4%
Q2 23	+325.3%	+1042.5%
Q3 23	+377.7%	+658.5%
Q1 24	+394.7%	+545.8%
Q2 24	-10.9%	-75.5%
Q3 24	+5.1%	-38.0%
Q4 24	-7.5%	-26.0%
Q1 25	-13.7%	-21.6%
Q2 25	-8.2%	-9.7%
Q3 25	+8.9%	-10.3%
Q4 25	+2.1%	-8.6%
Q1 26	-34.5%	-47.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$1M	1.4%
Q1 22	$1M	1.4%
Q2 22	$1M	1.6%
Q3 22	$2M	1.7%
Q4 22	$2M	1.7%
Q1 23	$5M	0.9%
Q2 23	$9M	2.2%
Q3 23	$257.0K	0.1%
Q1 24	$5M	0.9%
Q2 24	$4M	0.8%
Q3 24	$5M	1.3%
Q4 24	$1M	0.3%
Q1 25	$5M	1.3%
Q2 25	$6M	1.4%
Q3 25	$6M	1.3%
Q4 25	$5M	1.2%

OpEx Breakdown

Quarter	G&A
Q1 22	$29M
Q2 22	$28M
Q3 22	$28M
Q4 22	$28M
Q1 23	$100M
Q2 23	$109M
Q3 23	$110M
Q1 24	$113M
Q2 24	$112M
Q3 24	$98M
Q4 24	$89M
Q1 25	$94M
Q2 25	$98M
Q3 25	$186M
Q4 25	$181M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$243M	$865M	$1.1B
Q3 22	$256M	$848M	$1.1B
Q4 22	$2.2B	$4.8B	$7.1B
Q1 23	$1.0B	$958M	$2.0B
Q2 23	$284M	$922M	$1.2B
Q3 23	$311M	$915M	$1.2B
Q4 23	$5.4B	$2.3B	$7.7B
Q1 24	$3.1B	$2.3B	$5.4B
Q2 24	$2.7B	$2.2B	$4.9B
Q3 24	$2.6B	$2.3B	$4.9B
Q4 24	$2.5B	$2.2B	$4.7B
Q1 25	$2.3B	$0	$2.3B
Q2 25	$2.4B	$2.2B	$4.6B
Q3 25	$2.4B	$2.4B	$4.8B
Q4 25	$2.3B	$4.9B	$7.2B
Q1 26	$214M	$2.7B	$2.9B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	117M	+0.1%	+0.5%
Q2 22	118M	+0.2%	+0.6%
Q3 22	118M	+0.2%	+0.6%
Q4 22	118M	+0.0%	+0.5%
Q1 23	143M	+21.4%	+21.8%
Q2 23	143M	0.0%	+21.6%
Q3 23	143M	0.0%	+21.4%
Q1 24	168M	+17.6%	+42.7%
Q2 24	168M	+0.2%	+17.8%
Q3 24	169M	+0.1%	+17.9%
Q4 24	170M	+0.7%	+18.7%
Q1 25	169M	-0.2%	+0.8%
Q2 25	158M	-6.5%	-5.9%
Q3 25	159M	+0.4%	-5.7%
Q4 25	160M	+0.7%	-5.7%
Q1 26	160M	0.0%	-5.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$134.0K	673
Q2 22	$142.1K	673
Q3 22	$151.0K	673
Q4 22	$149.9K	685
Q1 23	$799.5K	685
Q2 23	$593.5K	685
Q3 23	$709.0K	685
Q1 24	$741.6K	685
Q2 24	$712.5K	685
Q3 24	$624.0K	685
Q4 24	$655.5K	685
Q1 25	$639.8K	685
Q2 25	$654.3K	685
Q3 25	$679.6K	685
Q4 25	$240.8K	2K
Q1 26	$150.7K	2K

Revenue / Employee