BANC

#1717
Banc of California, Inc. Common Stock
18.9 2 USD
+0.01%
Market Price
Secteur: Financier
Base: USD
Devise de Profit: USD
Range quotidien
18.79
18.96
Range Annuel
15.33
21.93
Changement quotidien
+0.80%
Changement Mensuel
-2.67%
Evolution sur 6 mois
+8.42%
Changement Annuel
+12.35%
Clôture Précédente
18.7 7
Open
18.8 1
Low
18.7 9
High
18.9 6
Volume
784
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Financials

Aperçu Relevé Statistiques Dividendes Documents

2026

Current report, Q3 FY2026
BANC OF CALIFORNIA, INC. current report, Q3 FY2026
8-K
Quarterly report, Q2 FY2026
BANC OF CALIFORNIA, INC. quarterly report, Q2 FY2026
10-Q
Current report, Q2 FY2026
BANC OF CALIFORNIA, INC. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
BANC OF CALIFORNIA, INC. current report, Q2 FY2026
8-K
Quarterly report, Q1 FY2026
BANC OF CALIFORNIA, INC. quarterly report, Q1 FY2026
10-Q
Current report, Q1 FY2026
BANC OF CALIFORNIA, INC. current report, Q1 FY2026
8-K
Current report, Q1 FY2026
BANC OF CALIFORNIA, INC. current report, Q1 FY2026
8-K
Current report, Q1 FY2026
BANC OF CALIFORNIA, INC. current report, Q1 FY2026
8-K

2025

Annual report, FY2025
BANC OF CALIFORNIA, INC. annual report, FY2025
10-K
Current report, Q4 FY2025
BANC OF CALIFORNIA, INC. current report, Q4 FY2025
8-K

BANC OF CALIFORNIA, INC. current report, Q1 FY2022

Full document

Business Context and Reporting Period

This Form 8-K filing by Banc of California, Inc. was submitted on March 4, 2022, reporting a significant legal settlement effective March 3, 2022. The filing addresses the resolution of a long-standing dispute regarding a fraudulent loan scheme.

Key Financial Metrics and Settlement Details

  • Settlement Amount: Chicago Title Company (CTC) agreed to pay the Bank $39.9 million.
  • Net Proceeds: After deducting attorneys' fees, the net amount payable to the Company is approximately $31.3 million.
  • Per Share Impact: The settlement represents approximately $0.36 per share on an after-tax basis (assuming a 27% effective tax rate).
  • Historical Context: The settlement resolves a matter stemming from a $35.1 million charge-off recorded in the quarter ended September 30, 2019, related to a fraudulent line of credit originated in November 2017.

Material Changes and Legal Resolution

The filing details the conclusion of litigation initiated on October 22, 2019, against Chicago Title Insurance Company (CTIC) and Chicago Title Company (CTC). The Bank originally filed claims in U.S. District Court alleging RICO violations, fraud, and negligence, which were later re-filed in the Superior Court of California in October 2020. The settlement agreement releases both CTC and CTIC from all claims related to this matter.

Outlook and Management Commentary

The filing does not provide forward-looking guidance, general management commentary on future operations, or updated risk factors beyond the resolution of this specific contingency. The primary focus is the finalization of the legal dispute and the associated financial recovery.

Investor Verification Checklist

  • Verify the actual cash receipt date and confirmation of the $31.3 million net settlement amount in the next quarterly report (10-Q).
  • Confirm the specific tax treatment applied to the settlement proceeds to validate the $0.36 per share estimate.
  • Review the Company's subsequent financial statements to ensure the release of any remaining reserves related to the original $35.1 million charge-off.
  • Check for any remaining legal exposure or undisclosed claims related to the original 2017 loan origination.