Banc of California Reports Q3 2026 Earnings Growth Driven by Net Interest Margin Expansion
Banc of California (BANC) reported strong third-quarter 2026 financial results, highlighted by a 21% year-over-year increase in diluted earnings per share to $0.46. The bank's net interest margin expanded to 3.34%, up 21 basis points from the previous quarter, following strategic balance sheet repositioning and higher yields on interest-earning assets. Management successfully reduced reliance on wholesale funding by decreasing brokered deposits by approximately $375 million while growing core deposits by $515 million. The bank also improved its efficiency ratio to 59.1% as revenue growth outpaced flat expenses. Despite facing deposit pressure and potential economic stalls from interest rate hikes, the company provided optimistic Q4 guidance for both pretax preprovision income and net interest margin.
Tickers: $BANC
Topics: banking performance earnings report EPS net interest margin revenue growth