BANC

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Second Quarter 2026 Results

Press Release

Banc of California, Inc. Reports Second Quarter 2026 Financial Results and Announces Strategic Balance Sheet

Repositioning to Enhance Long-Term Earnings

Company Release – 7/29/2026

Quarter Results

9%

Loan Average

Annualized Growth

12%

Deposit Annualized

Growth

$2.3 billion

Securities Repositioning

$18.38

Book Value Per Share

$16.44

Tangible Book Value

Per Share(1)

$(1.61)

Loss Per Share

LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (“Banc of California” or the “Company”), the

parent company of wholly-owned subsidiary Banc of California (the “Bank”), today reported financial results for the second quarter ended

June 30, 2026.

During the second quarter, the Company completed a strategic reallocation of capital toward higher return opportunities to further

strengthen long-term earnings, expand net interest margin, and increase balance sheet flexibility. The Company took three specific actions

including (i) the repositioning of $2.3 billion of lower-yielding securities, (ii) initiating the sale of $827.0 million of selected commercial

real estate and multi-family construction loans, and (iii) the retirement of $385.0 million of subordinated debt prior to higher contractual

interest reset.

The Company transferred $2.3 billion of lower-yielding held-to-maturity securities to available-for-sale, and subsequently sold and

redeployed a portion of the proceeds into higher-yielding, shorter-duration available-for-sale securities. The securities repositioning

generated a 276 basis point yield pickup on redeployed balances, reduced portfolio duration, and improved the risk-weighted asset profile

of the securities portfolio, all while maintaining capital ratios significantly above “well capitalized” regulatory thresholds.

The Company also commenced a targeted sale process of $827.0 million of commercial real estate and multi-family construction loans to

reduce selected credit exposures and lower the potential for future credit-related earnings volatility. Following a competitive loan sale

process, the Company has entered into purchase and sale agreements for the loans transferred to held-for-sale during the quarter and

expects the transactions to close in the third quarter. In addition, the Company retired $385.0 million of subordinated debt prior to a

significantly higher interest rate reset. Taken together, these actions are expected to immediately improve net interest margin, support

higher recurring earnings, and accelerate organic capital generation.

The Company reported a net loss available to common and equivalent stockholders of $251.3 million, or $(1.61) per diluted common

share, reflecting the near-term impact of these strategic actions.

Jared Wolff, Chairman & CEO of Banc of California, commented, “During the second quarter, we made a strategic decision to reallocate

capital toward opportunities that we believe will enhance long-term returns for our shareholders. We implemented that strategy through

three complementary actions including a securities repositioning, a targeted loan sale and the retirement of higher-cost subordinated debt,

that together create a more efficient balance sheet and position the Company for even stronger long-term financial performance."

Mr. Wolff continued, "These actions resulted in significant one-time charges, but they increase our long-term earnings power, improve

capital efficiency and provide greater financial flexibility to support future growth. Just as importantly, they allow us to focus our capital

on the businesses, clients and markets where we see the greatest opportunities to create shareholder value.”

(1) Non-GAAP measure; refer to section 'Non-GAAP Measures'

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Second Quarter 2026 Financial Highlights:

•Executed a securities repositioning to drive higher recurring earnings power, including the sale of $2.3 billion of lower-yielding

securities and partial redeployment of $1.7 billion into higher-yielding shorter-duration securities, with the remaining proceeds

expected to be invested in the third quarter of 2026. The repositioning generated a 276 basis point yield pickup on redeployed balances

and resulted in a $256.7 million pre-tax loss on securities.

•Commenced a targeted loan sale process involving $827.0 million of loans to reduce selected exposures, enhance capital efficiency,

and improve the risk profile of the loan portfolio. Total provision expense of $161.8 million includes the impact of transferring these

loans to held for sale at the lower of cost or market value.

•Retired $385.0 million of subordinated debt prior to a significantly higher interest rate reset, reducing future funding costs and

supporting stronger pre-tax pre-provision earnings.

•Average loans increased $556.1 million, or 2.3%, during the quarter, driven by $2.8 billion of loan production and

disburseme

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Banc of California, Inc. Reports First Quarter Diluted Earnings per Share of $0.39, Up 50% Year over Year;

Net Interest Margin Expands to 3.24%; Positive Operating Leverage Continues

Company Release – 4/22/2026

Quarter Highlights

$0.39

Earnings Per Share

$19.80

Book Value Per Share

$17.77

Tangible Book Value

Per Share(1)

3.24%

Net Interest Margin

4%

Loan Average Annualized Growth

4%

Noninterest-bearing Deposit Average Annualized Growth

LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (“Banc of California” or the “Company”), the parent company of wholly-owned subsidiary Banc of California (the “Bank”), today reported financial results for the first quarter ended March 31, 2026. The Company reported net earnings available to common and equivalent stockholders of $62.0 million, or $0.39 per diluted common share, for the first quarter of 2026, compared to $67.4 million, or $0.42 per diluted common share for the fourth quarter of 2025.

During the quarter, the Company extended its existing $300 million stock repurchase program through March 2027 and announced plans to redeem $385 million of subordinated debt, reflecting continued capital flexibility and commitment to creating value for our shareholders.

Jared Wolff, Chairman & CEO of Banc of California, commented, “Our first quarter results reflect disciplined execution and continued strength in our core earnings drivers. We delivered positive operating leverage and significant earnings growth year over year, supported by net interest margin expansion, disciplined expense management, and continued progress in improving the mix and earnings power of the balance sheet. Supported by our healthy capital and liquidity position, we also efficiently deployed capital through opportunistic share repurchases and announced the redemption of subordinated debt. As we look ahead, we are well positioned for continued earnings growth, supported by strong pipelines, embedded asset repricing opportunities, and our attractive market position.”

First Quarter 2026 Financial Highlights:

•Total revenue of $286.9 million, up 8% year over year, with pre-tax pre-provision income(1) of $105.6 million, up 28% year over year.

•Net interest margin expanded 4 basis points to 3.24% compared to fourth quarter 2025, driven by an 11 basis point decline in deposit costs.

•Average total deposits increased by $103.4 million, and average noninterest-bearing deposits grew $81.2 million to 28.9% of average total deposits.

•First quarter loan production and disbursements totaled $2.1 billion, with a weighted average interest rate on production of 6.65%, supporting our balance sheet remixing and providing embedded earnings upside as higher-rate production replaces lower-yielding fixed-rate and hybrid loans.

•Average total loans increased $267.5 million.

•Total noninterest expense of $181.4 million, down 1% year over year.

•Maintained allowance for credit losses coverage of 1.12% of total loans held for investment.

•Repurchased $31.9 million of common stock and common equivalent stock at a weighted average price per share of $18.68.

•Growth in book value per share to $19.80 and tangible book value per share(1) to $17.77, up 9% and 10% year over year, respectively.

•Healthy capital ratios(2) well above the regulatory thresholds for "well capitalized" banks, including an estimated 12.54% Tier 1 capital ratio and 10.18% CET 1 capital ratio.

(1)Non-GAAP measure; refer to section 'Non-GAAP Measures'

(2)Capital ratios for March 31, 2026 are preliminary

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INCOME STATEMENT HIGHLIGHTS

Three Months Ended

March 31,December 31,March 31,

Summary Income Statement202620252025

(In thousands)

Total interest income$407,442 $416,948 $406,655

Total interest expense155,825 165,586 174,291

Net interest income251,617 251,362 232,364

Provision for credit losses9,800 12,500 9,300

Gain on sale of loans7 18 211

Other noninterest income35,321 41,553 33,439

Total noninterest income35,328 41,571 33,650

Total revenue286,945 292,933 266,014

Total noninterest expense181,391 180,644 183,653

Earnings before income taxes95,754 99,789 73,061

Income tax expense23,802 22,398 19,493

Net earnings71,952 77,391 53,568

Preferred stock dividends9,947 9,947 9,947

Net earnings available to common

and equivalent stockholders$62,005 $67,444 $43,621

Diluted earnings per share$0.39 $0.42 $0.26

Net Interest Income and Margin

First Quarter of 2026 Compared to Fourth Quarter of 2025

Net interest income increased by $0.3 million to $251.6 million for the first quarter, up from $251.4 million in the fourth quarter. This increase was primarily driven by a $9.7 million decrease in interest expense on deposits, reflecting lower interest rates due to the full quarter impact of the federal funds rate cuts of 50 basis points in the fourth quarter and two fewer days in the quarter. Additionally, interest income from investment securities

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Banc of California, Inc. Reports Fourth Quarter Diluted Earnings per Share of $0.42, Up 11% Quarter over Quarter; Full Year Diluted Earnings per Share of $1.17, Significant Growth Year over Year

Company Release – 1/21/2026

Quarter Highlights

$0.42

Earnings Per Share

$19.56

Book Value Per Share

$17.51

Tangible Book Value

Per Share(1)

15%

Loan Annualized Growth

11%

Noninterest-bearing Deposits Annualized Growth

LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (“Banc of California” or the “Company”), the parent company of wholly-owned subsidiary Banc of California (the “Bank”), today reported financial results for the fourth quarter and year ended December 31, 2025. The Company reported net earnings available to common and equivalent stockholders of $67.4 million, or $0.42 per diluted common share, for the fourth quarter of 2025, compared to $59.7 million, or $0.38 per diluted common share for the third quarter of 2025. For the full year 2025, net earnings available to common and equivalent stockholders of $189.2 million, or $1.17 per diluted common share, compared to $87.1 million, or $0.52 per diluted common share for the full year 2024. On an adjusted basis, net earnings available to common and equivalent stockholders of $218.2 million, or $1.35 per diluted common share, compared to $135.4 million, or $0.80 per diluted common share for the full year 2024.(1)

Fourth Quarter and Full Year 2025 Financial Highlights:

•Total loans and leases of $25.2 billion increased by 15% for the quarter annualized and 6% year over year.

•Fourth quarter loan production and disbursements totaled $2.7 billion with a weighted average interest rate on production of 6.83%, and heavily concentrated toward the end of the quarter. Full year loan production and disbursements of $9.6 billion, up 31% year over year.

•Noninterest-bearing deposits of $7.8 billion increased by 11% annualized from 3Q25, representing 28% of total deposits.

•Net interest margin of 3.20% for the quarter, and 3.15% for the year reflecting a 30 basis point expansion year over year, driven by improved funding mix and lower deposit costs. Late fourth quarter loan production will have a full quarter benefit to net interest income in 1Q26.

•Total revenue of $292.9 million increased over 2% and pre-tax pre-provision income(1) of $112.3 million increased 10% from 3Q25 reflecting improved operating leverage.

•Noninterest expenses of $180.6 million decreased by $5.0 million from 3Q25 contributing to an efficiency ratio(1) decrease to 59.35% from 62.05% in 3Q25.

•Credit quality metrics stable with quarter-over-quarter reductions in nonperforming, criticized, and special mention loans and leases, as a percentage of total loans and leases held for investment, of 8 basis points, 24 basis points, and 27 basis points, respectively. On a year-over-year basis, there were reductions in nonperforming, criticized, and special mention loans and leases, as a percentage of total loans and leases held for investment, of 16 basis points, 195 basis points, and 278 basis points, respectively.

•Stable capital ratios(2) well above the regulatory thresholds for "well capitalized" banks, including an estimated 12.34% Tier 1 capital ratio and 10.01% CET 1 capital ratio and continued growth in book value per share to $19.56, up 2% vs 3Q25, and tangible book value per share(1) to $17.51, up 3% vs 3Q25.

(1)Non-GAAP measure; refer to section 'Non-GAAP Measures'

(2)Capital ratios for December 31, 2025 are preliminary

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Jared Wolff, Chairman & CEO of Banc of California, commented, “Our fourth quarter results capped a year of strong execution, reflect the continued momentum of our core earnings engine, and validate our ongoing business strategy. During the quarter we delivered double-digit annualized loan and noninterest-bearing deposit growth, and achieved double-digit return on average tangible common equity, all while maintaining disciplined expense management and stable credit quality. These results underscore the strength of our franchise and our ability to consistently deliver profitable growth.”

Mr. Wolff continued, “Throughout 2025, we made significant progress scaling our franchise, strengthening our balance sheet, and improving our core profitability drivers. We grew operating leverage, improved credit metrics, and delivered a meaningful increase in tangible book value per share while opportunistically returning capital to shareholders. As we look ahead into 2026, we believe we are well positioned to continue building on this momentum. Our fourth quarter loan growth came later in the quarter, which should provide a tailwind for the first quarter 2026. With our strong market position, talented teams, and continued execution, we expect 2026 to be another strong year for Banc of California.”

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INCOME STATEMENT HIGHLIGHTS

Three Months EndedYear Ended

December 31,September 30,December 31,