Banc of California to record $35M charge-off in Q3 [Seeking Alpha]
Banc of California, Inc. (BANC)
Last banc of california, inc. earnings: 4/29 06:00 am
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Source: Seeking Alpha
Banc of California to record $35M charge-off in Q3 Banc of California ( BANC -9.4% record a $35M specific loan loss provision According to an SEC complaint, ANI Development, which guaranteed the line of credit, and Champion-Cain, ANI's principal, operated a $300M scheme that defrauded several investors including BANC's borrower. BANC also expects to incur a $1.1M charge for a cancellation of a swap contract associated with the loan. BANC estimates a $27.9M after-tax impact of the provision and the swap cancellation for Q3, or $0.54/share; at $35M, the charge-off is equivalent to 0.52% of BANC's $6.7B gross loan portfolio as of June 30.
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BANC
News
- CPP Announces Acquisition of Normandie Villas in Los Angeles [Yahoo! Finance]Yahoo! Finance
- Banc of California, Inc. (NYSE: BANC) had its price target raised by analysts at Barclays PLC from $18.00 to $20.00. They now have an "overweight" rating on the stock.MarketBeat
- Banc of California, Inc. (NYSE: BANC) had its price target raised by analysts at Keefe, Bruyette & Woods from $17.50 to $20.00. They now have an "outperform" rating on the stock.MarketBeat
- Is Morgan Stanley (MS) Stock Outpacing Its Finance Peers This Year? [Yahoo! Finance]Yahoo! Finance
- Banc of California Renews Commitment to Alliance for Southern California Innovation [Yahoo! Finance]Yahoo! Finance
BANC
Earnings
- 10/22/24 - Beat
BANC
Sec Filings
- 12/17/24 - Form 4
- 11/14/24 - Form SC
- 11/8/24 - Form 10-Q
- BANC's page on the SEC website