At a glance
Banc of California, Inc. is worth $2.92B, about 16 times its fiscal 2025 earnings. Revenue fell 3.8% to $1.82B in fiscal 2025, with 12.6% kept as profit; over 5 years it has grown 49.5% a year. It pays a 2.49% dividend yield, and returned $432.0M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +10.4% over the past year with dividends reinvested and +0.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 55.9% in the 2020 crash (S&P 500: 33.7%) and 26.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 39 months after the lows.
The business in plain English
Banc of California, Inc. is the Los Angeles-based holding company, or parent, of Banc of California, a state-chartered business bank. On November 30, 2023, it completed a merger with PacWest Bancorp, and PacWest's bank carried on under the Banc of California name. The bank serves small, middle-market and venture-backed businesses, along with business owners, professionals and wealthy individuals. It does this through 79 branches in California, Denver and Durham, North Carolina, plus regional offices nationwide.
Most of its income is net interest income: the gap between the interest it earns on loans and securities and the interest it pays on deposits. That totaled $977 million in 2025, against $142 million of noninterest income such as fees. As of December 31, 2025, it held $25.0 billion of loans and $27.8 billion of deposits. Loans on apartment buildings made up 24% of the loan book and commercial property loans 17%, mostly in California.
It runs four groups. Commercial & Community Banking handles branch-based lending and deposits. Specialty Banking serves niches such as homeowners associations, venture-backed companies, Small Business Administration lending, and media and entertainment. Deposit and Transaction Services offers cash management and foreign exchange. Payment Solutions processes merchants' card payments through its BancEdge platform and issues business cards. The company's annual report (10-K) does not split revenue by group.
Price history
The interactive chart needs JavaScript.
BANC +10.4% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $180.5M, down 60.2% from a year earlier, and net income was $-241.3M (-950.3%).
- For fiscal 2025, revenue was $1.82B (-3.8% year over year; +49.5% a year from FY2020 to FY2025) with a 12.6% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +49.5% good |
|---|---|
| Return on equity | 6.5% weak |
| Net income / revenue | 12.6% weak |
| Deposits | $28.12B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $243.5M | $12.6M | — |
| FY2021 | $1.35B | $607.0M | — |
| FY2022 | $1.63B | $423.6M | — |
| FY2023 | $1.52B | $-1.90B | — |
| FY2024 | $1.89B | $126.9M | — |
| FY2025 | $1.82B | $229.0M | — |
Valuation snapshot
| Market value | $2.92B |
|---|---|
| P/E ratio | 15.8 |
| Dividend yield | 2.49% |
Rank among 1514 US companies
Market value at each year end
Banc of California’s market value went from $2.60B at the end of 2016 to $2.92B on Oct 28, 2026, up 12%; since the end of 2025 it is up 0%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.92B | +0.3% |
| 2025 | $2.91B | +18.9% |
| 2024 | $2.45B | +21.6% |
| 2023 | $2.01B | -15.7% |
| 2022 | $2.39B | -18.8% |
| 2021 | $2.94B | +33.4% |
| 2020 | $2.20B | -14.4% |
| 2019 | $2.57B | +29.1% |
| 2018 | $1.99B | -35.5% |
| 2017 | $3.09B | +19.0% |
| 2016 | $2.60B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| BANC price data to Oct 28, 2026 | -2.3% | +10.4% | +22.8% | +0.3% | +6.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -2.3% |
| 2025 | +28.0% |
| 2024 | +18.4% |
| 2023 | -13.1% |
| 2022 | -17.7% |
| 2021 | +35.1% |
| 2020 | -12.7% |
| 2019 | +31.8% |
| 2018 | -33.7% |
| 2017 | +22.1% |
| 2016 | +21.9% |
| 2015 | +32.3% |
| 2014 | -10.9% |
| 2013 | +13.4% |
| 2012 | +24.7% |
| 2011 | -20.1% |
| 2010 | +154.9% |
| 2009 | -42.2% |
| 2008 | -43.6% |
| 2007 | -32.2% |
| 2006 | +4.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 74.4% over that stretch · deepest drop along the way 75.4%, back to its old high 85.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 55.5% over that stretch · deepest drop along the way 55.9%, back to its old high 9.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.1% over that stretch · deepest drop along the way 26.2%, back to its old high 38.7 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 1 open-market purchases ($100K) and 5 sales ($981K).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 26, 2026 | Bryan M Corsini CHIEF CREDIT OFFICER | sell | $286K |
| Sep 10, 2026 | Ido Dotan GENERAL COUNSEL, CORP SECRTY | sell | $193K |
| Apr 29, 2026 | Bryan M Corsini CHIEF CREDIT OFFICER | sell | $193K |
| Apr 29, 2026 | Bryan M Corsini CHIEF CREDIT OFFICER | sell | $193K |
| Aug 4, 2026 | Olivia I Lindsay CHIEF RISK OFFICER | sell | $117K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 12.9% | Mar 31, 2025 |
| T. Rowe Price Investment Management, Inc. | 10.1% | Sep 30, 2026 |
| STATE STREET CORPORATION | 6% | Mar 31, 2025 |
| Millennium Management LLC | 1.9% | Jun 30, 2026 |
ETFs with the most weight in BANC
| HAPS Harbor Human Capital Factor US Small Cap ETF | 0.56% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.55% |
| FYC First Trust Small Cap Growth AlphaDEX Fund | 0.49% |
| SVAL iShares US Small Cap Value Factor ETF | 0.43% |
| IJS iShares S&P Small-Cap 600 Value ETF | 0.31% |
| VIOV Vanguard S&P Small-Cap 600 Value ETF | 0.31% |
| SLYV SPDR S&P 600 Small Cap Value ETF | 0.3% |
| AVSC Avantis U.S Small Cap Equity ETF | 0.26% |
What could go wrong
- Heavy exposure to California property loans. Apartment loans were 24% of loans and commercial real estate 17% as of December 31, 2025, mostly in California. These loans tend to be large, so falling property values or rents could drive sizable losses.
- Payment processing adds fraud and compliance risk. Its BancEdge merchant-processing platform and card issuing expose it to fraud, failures at outside partners, and regulatory scrutiny. Regulators may also hold the bank responsible for financial technology partners' actions, including anti-money-laundering lapses.
- Losing deposits or cheap funding. Deposits, many from businesses including venture-backed firms, fund its lending. Bad news about other banks could trigger withdrawals, and a credit rating cut could raise its cost of funds.
- Earthquakes, wildfires and California's economy. Most branches are in California, as are most of its apartment and commercial property loans. A regional slump, earthquake or wildfire could damage collateral, hurt borrowers and disrupt operations.
- Interest rate swings and adjustable-rate loans. Profits depend on the gap between what loans earn and what deposits cost, which moves with interest rates. With adjustable-rate loans, borrowers' payments climb when rates rise, and some may struggle to repay.
- Balance sheet moves can lock in losses. Selling investment securities or other assets to reshape the balance sheet can turn paper losses into real ones. A net deferred tax asset, a future tax break, may also go partly unused.
Recent events
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Banc of California pays a dividend but has no streak of annual increases. It paid $0.40 a share in both 2024 and 2025; over 2020–2025 the yearly payout ranged from $0.24 to $0.53. The 2025 dividend compares with diluted earnings of $1.17 a share, and the yield was 2.49% as of October 28, 2026. Free cash flow is not a useful yardstick for banks. Buybacks totaled $75 million over 2021–2025, with none in 2025. The 10-K says the parent company relies on the bank's dividends to pay shareholders and gives no assurance about future payouts.
In downturns the stock has fallen hard. It dropped 75.4% from October 2007 to February 2009 and took until April 2016 to recover. In the 2020 COVID crash it fell 55.9%, recovering by January 2021. In the 2022 bear market it fell 26.2% and did not regain its peak until December 2025. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Banc of California make money?
Mostly from lending. Like most banks, Banc of California earns net interest income: the difference between the interest it collects on loans and securities and what it pays on deposits and borrowings. That came to $977 million in 2025. Noninterest income, which includes fees from services such as deposit accounts and card payment processing through its BancEdge platform, was a much smaller $142 million. Its customers are mainly small, middle-market and venture-backed businesses.
Does Banc of California raise its dividend every year?
No. Banc of California pays a regular dividend but has no streak of annual increases. It paid $0.40 a share in both 2024 and 2025, and the yearly amount ranged from $0.24 to $0.53 a share over 2020–2025. The yield, which is annual dividends as a percentage of the share price, was 2.49% as of October 28, 2026. The parent company depends on dividends from its bank to pay shareholders, and its 10-K says there is no assurance about the level of future dividends.
What happened when Banc of California merged with PacWest?
Banc of California completed its merger with PacWest Bancorp on November 30, 2023. PacWest merged into Banc of California, Inc., which survived as the parent company. On December 1, 2023, the original Banc of California bank merged into PacWest's Pacific Western Bank, which took the Banc of California name. The company reported a net loss of about $1.9 billion for 2023, then earned $127 million in 2024 and $229 million in 2025.
Is Banc of California profitable?
Yes, for full-year 2025, but not in every period. Net income was $229 million in 2025, up 80.5% from 2024, or $1.17 per diluted share. Return on equity, which measures profit against shareholders' capital, was 6.5%. For the quarter ended June 30, 2026, the company reported a net loss of about $241 million. As of October 28, 2026, the stock traded at 15.8 times its 2025 earnings.
Which ETFs hold Banc of California stock?
Banc of California appears in 53 ETFs, and only as a small slice. The largest weights are in small-company funds: Harbor Human Capital Factor US Small Cap ETF (HAPS) at 0.56%, Invesco S&P SmallCap Financials ETF (PSCF) at 0.55% and First Trust Small Cap Growth AlphaDEX Fund (FYC) at 0.49%. S&P SmallCap 600 Value funds from iShares (IJS), Vanguard (VIOV) and SPDR (SLYV) each hold about 0.3%. Among large shareholders, BlackRock reported 12.9% as of March 31, 2025.