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Thursday, Mar 28, 2024
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Banc of Cali Posts $19M Q4 Profit

Share prices in Irvine-based Banc of California Inc. continued to rise on Friday after the bank on Thursday reported quarterly profits of $19 million.

Shares in midday trading Friday were about $15 for a market cap of $557 million. The bank holding company’s stock price surged as high as $15.90 Thursday morning, following its quarterly report, before closing yesterday at $14.73—up 6.6% to a $523 million market cap.

Banc of California reported diluted earnings per share of $0.39 for the quarter ended Dec. 31.

The company for its full year recorded profits of about $52 million and earnings per share of $1.34.

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