The highlights of Banc of California, Inc.'s earnings report are as follows:
During the first quarter, Banc of California posted earnings of $28.189 million, comparing favorably to last year's corresponding quarter when it suffered a loss of -$1.205 billion. Per-share earning during this quarter were $0.17, a significant improvement from -$15.56 recorded in the same period of the previous year.
When excluding certain items, the company's adjusted earnings stood at $31.681 million, or $0.19 per share, in this period. However, analysts had forecasted a higher per-share earning of $0.22.
Finally, Banc of California's revenues reached $272.964 million in the quarter, which was below the $315.663 million they reported in the same quarter the previous year.
