Banc of California turns to Q2 FY26 net loss of $241.35 million; revenue drops to $16.41 million
Reuters2026/08/07 20:38- Banc of California posted a net loss of $241.35 million in Q2 2026, swinging from net earnings of $71.95 million in Q1 2026.
- Diluted loss per share was $1.61, turning from diluted earnings per share of $0.39 in the prior quarter.
- Net interest income slipped to $250.5 million from $251.62 million, while net interest margin narrowed 11 basis points to 3.13%.
- Provision for credit losses jumped to $161.78 million from $9.8 million, reflecting the targeted loan sale transfer recorded at LOCOM.
- Noninterest income swung to a loss of $234.1 million from income of $35.33 million, driven by a $256.75 million pre-tax loss on securities repositioning.
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