Slide 1: Investor Presentation First Quarter 2026 Results
Investor Presentation First Quarter 2026 Results
Slide 2: Forward-Looking Statements and Other Matters
Forward-Looking Statements and Other Matters This presentation includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to our expectations rega
Slide 3: Banc of California: Who We Are
Banc of California: Who We Are ❖ We are a premier, relationship-focused, full-service business bank ❖ Largest independent bank headquartered in Los Angeles ❖ National presence through 79 retail branches in California, Colorado and North Carolina and specialty businesses ❖ Big-bank expertise and capa
Slide 4: Financial Highlights
Financial Highlights Diluted EPS of $0.39, up 50% YoY, reflects positive operating leverage and strong core earnings drivers Change EPS NIM 1Q26 4Q25 1Q25 QoQ D YoY D NIM of 3.24% +4 bps QoQ; cost of Diluted EPS: $0.39,+50% YoY Operating results deposits of 1.78% -11 bps QoQ PTPP(1) $105.6mm $112.3m
Slide 5: Financial Highlights
Financial Highlights Delivering consistent, sustainable results in key performance metrics PTPP(1) TBVPS(1) Diluted EPS(2) 28% 50% 10% $17.77 $112.3mm $17.51 $0.42 $105.6mm $0.38 $0.39 $102.0mm $16.99 $0.31 $87.0mm $16.46 $0.26 $82.4mm $16.12 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q
Slide 6: Income Statement
Income Statement PTPP(1) growth of 28% YoY reflects continued NIM expansion and expense discipline ($ in millions) 1Q26 4Q25 1Q25 Key Income Statement Metrics 1Q26 4Q25 1Q25 Total interest income $407.4 $416.9 $406.7 Diluted EPS $0.39 $0.42 $0.26 Total interest expense 155.8 165.6 174.3 ROAA 0.86% 0
Slide 7: Balance Sheet
Balance Sheet Strong balance sheet with healthy capital and liquidity ($ in millions) 1Q26 4Q25 1Q25 Key Balance Sheet Metrics 1Q26 4Q25 1Q25 Cash and cash equivalents $2,217 $2,308 $2,344 Average interest-earning assets $31,471 $31,169 $30,611 Investment securities 5,140 4,923 4,801 CET 1 ratio 10.
Slide 8: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin Net interest income supported by ongoing net interest margin expansion Net Interest Income (NII) ($mm) and Net Interest Margin (NIM) (%) 3.22% 3.20% 3.24% HIGHLIGHTS 3.08% 3.10% ❖ NII of $251.6mm up 8% YoY due to improved funding costs ❖ Deposit costs decl
Slide 9: Noninterest Income
Noninterest Income Noninterest income in line with normal run-rate HIGHLIGHTS ($ in millions) 1Q26 4Q25 1Q25 ❖Noninterest income of $35.3mm relatively flat QoQ Leased Equipment Income $8.5 $16.4 $10.8 excluding ~$6mm lease residual gain in 4Q25 Commissions and Fees 11.0 9.5 10.0 ❖Commissions and fee
Slide 10: Noninterest Expense
Noninterest Expense Noninterest expenses remain well-controlled Adjusted Noninterest Expense(1) / Average Assets Ratio ($ in millions) 1Q26 4Q25 1Q25 2.24% 2.21% 2.18% 2.16% 2.12% Compensation $91.1 $85.9 $86.4 Occupancy 14.9 14.7 15.0 IT and data processing 14.3 13.8 15.1 1.90% 1.89% 1.87% 1.88% Pr
Slide 11: Deposits
Deposits Average NIB growth and deposit repricing continue to improve funding costs HIGHLIGHTS ($ in millions) 1Q26 4Q25 1Q25 ❖ Cost of deposits down QoQ due to deposit repricing and decline in Noninterest-bearing Checking $7,798 $7,823 $7,594 higher-cost deposit balances, including retail CDs Check
Slide 12: NIB Deposit Growth
NIB Deposit Growth Steady growth in new NIB business deposit relationships and balances(1) 5,393 4,845 4,031 3,569 2,929 2,390 $1,113.5 1,889 $965.2 $746.8 1,288 $643.2 $537.8 650 $439.2 $382.6 $257.8 $107.3 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Cumulative New NIB Business Deposits Accounts C
Slide 13: Loan Portfolio
Loan Portfolio Balanced loan portfolio with healthy rates despite declining rate environment 1Q26 4Q25 Loan Segment Total % of Total Wtd. Avg. NPL % DQ % Coverage Coverage ($ in millions) 1Q26 4Q25 Variance Loans 1Q26 Rate 1Q26 1Q26 1Q26 ACL Ratio ACL Ratio Multifamily $5,955 $6,089 ($134) 24.0% 4.2
Slide 14: Loan Activity
Loan Activity Consistent, strong loan production Rate on Production(1) Total Loan Yield 7.20% 7.29% 7.08% 6.05% 6.83% 6.65% 5.90% 5.93% 5.83% 5.74% ($ in millions) $2,730 HIGHLIGHTS $2,459 $2,294 $2,280 ❖ Strong 1Q26 loan production was broad based $2,186 $2,068 $2,119 and driving remixing of balanc
Slide 15: Loan Activity by Segment
Loan Activity by Segment Broad-based production drives portfolio remixing as lower yielding loans payoff 1Q26 4Q25 1Q25 Loan Segment Production + Payoffs + Wtd. Avg Production + Payoffs + Wtd. Avg Production + Payoffs + Wtd. Avg ($ in millions) Balances Disbursements Paydowns Rate Balances Disbursem
Slide 16: Loan Maturity and Repricing Summary
Loan Maturity and Repricing Summary 20% of fixed rate & hybrid loans will reprice / reset within one year at higher rates 54% or ~$3.2B of low yielding multifamily loans will reprice or mature in next 2.5 years HIGHLIGHTS Total Fixed Rate and Hybrid Loans – Maturities / Repricing ❖ Total fixed rate
Slide 17: NDFI Lending Exposure
NDFI Lending Exposure Diversified NDFI exposure with history of minimal losses HIGHLIGHTS NDFI Lending Exposure ❖ Long history of strong asset quality performance with almost no delinquencies, NPLs or classified loans Loan Type 1Q26 Loan 1Q26 % of 1Q26 NPL % of 1Q26 DQ % of 1Q26 Classified % 10-Year
Slide 18: Asset Quality Ratios and Trends
Asset Quality Ratios and Trends Credit migration in 1Q26 was concentrated in a limited number of relationships We remained proactive in managing credit, while continuing to deliver positive earnings momentum Nonperforming Loans ($mm) Classified Loans ($mm) 0.88% 0.75% 3.17% 3.17% 3.20% 3.40% 0.72% H
Slide 19: Allowance for Credit Losses - Loans
Allowance for Credit Losses - Loans Maintained ACL coverage ratio at 1.12% 1Q26 ACL walk Economic 1.60% HIGHLIGHTS ($ in millions) coverage ratio(1) ❖ ACL decreased $4.0mm reflecting: ❖ Net charge-offs of $13.8mm primarily driven by two loans $280.5 • Hotel property which migrated to NPL in 1Q25 ($1
Slide 20: Adjusted Allowance for Credit Losses Ratios
Adjusted Allowance for Credit Losses Ratios Adjusted ACL ratio(1) is significantly higher when adjusting for lower loss loan categories 1Q26 Adjusted ACL Ratio(1) Composition of Lower Loss Loan Categories 1.61% Lower Loss Loan Categories 1.38% ($ in millions) 1Q26 4Q25 1Q25 1.27% Residential $3,431
Slide 21: Investment Securities Portfolio
Investment Securities Portfolio Deployed liquidity to grow securities portfolio by 4% QoQ HIGHLIGHTS Yield Duration (yrs) Unrealized Unrealized Security Type (1) ❖ Average securities yield increased 17 bps QoQ from ($ in m illions) 1Q26 4Q25 Variance 1Q26 1Q26 Loss 1Q26 Loss 4Q25 purchase of higher-
Slide 22: Capital
Capital Healthy capital levels and continued growth in TBVPS Regulatory Well- Excess of Well- 1Q26 4Q25 1Q25 Capitalized Capitalized Consolidated Company Total Risk-Based Ratio 16.55% 16.31% 16.93% 10.00% 6.55% Tier 1 Risk-Based Capital 12.54% 12.34% 12.86% 8.00% 4.54% CET 1 Ratio 10.18% 10.01% 10.4
Slide 23: Interest Rate Sensitivity
Interest Rate Sensitivity IRR position remains largely neutral for NII sensitivity Ongoing balance sheet remixing will support further net interest income expansion, across all rate environments 1Q26 IRR position – NII impact ($B) $20.8 Asset / liability gap of $15.2 ($5.6B) is largely neutral to NI
Slide 24: 2026 Outlook
Outlook 2026 Outlook FY 2026 Outlook remains unchanged from prior guidance 2026 Outlook Key Factors Future state financial targets remain unchanged ❖ Target mid single digit growth ❖ Driven by growth in commercial loans ❖ ROAA ~1.1%+ Loans ❖ Dependent on economic conditions ❖ ROTCE ~13%+ ❖ Continue
Slide 25: Supplemental Information
Supplemental Information
Slide 26: Share repurchases
Share repurchases Delivering shareholder value through share repurchases Share Repurchase Activity 1Q25 2Q25 3Q25 4Q25 1Q26 Total Repurchase Amount $38,545,698 $111,454,299 $35,498,391 - $31,942,722 $217,441,110 (1) Price Per Share $14.36 $12.65 $16.48 - $18.68 $14.16 Number of Shares Repurchased 2,
Slide 27: CRE Portfolio
CRE Portfolio High quality CRE portfolio has low weighted-average LTV and strong debt-service coverage ratio (DSCR) Total CRE is well diversified across multiple industries HIGHLIGHTS 1Q26 % of ❖ 75% of total CRE portfolio located in California Property Type 1Q26 % of Total Avg Loan WA ($ in million
Slide 28: Customer Related Expense
Customer Related Expense ECR expenses declined QoQ due to impact of rate cuts HIGHLIGHTS Customer Related Expense ($mm) ❖ Substantially all HOA deposits have ECR expenses $27.8 $26.6 $26.2 $24.9 $23.7 $4.1 ❖ Average HOA balances increased due to seasonality and $4.7 $4.6 $4.1 $3.9 business growth ❖
Slide 29: Projects and Investments
Projects and Investments Expect total project and investment spend of ~$19mm in 2026, with ~$7mm of planned expense in 2026 Project investment composition Revenue enhancing projects Back office and support projects $0.4mm $3.7mm 20% 11% $4.1mm 19% $2.9mm 8% $0.3mm 28% $14.9mm 80% $3.0mm 81% 53% $7.9
Slide 30: Liquidity
Liquidity Maintaining high levels of primary and secondary liquidity ($ in millions) Current 1Q26 Availability Utilization Capacity Primary Liquidity HIGHLIGHTS Cash and cash equivalents (1) $2,046 (2) ❖Uninsured and uncollateralized deposits AFS Securities (unpledged) 2,464 of $7.8B, which represen
Slide 31: Experienced Management Team with Track Record of Success at Leading Institutions
Experienced Management Team with Track Record of Success at Leading Institutions Jared Wolff Joe Kauder Chris Blake Bryan Corsini Chairman and Chief Executive Chief Financial Officer Vice Chairman of the Bank Chief Credit Officer Officer 30+ years of banking experience, 40+ years of banking experien
Slide 32: Appendix
Appendix
Slide 33: Non-GAAP Financial Information
Non-GAAP Financial Information Tangible assets, tangible common equity, tangible common equity ratio, tangible book value per common share, Efficiency ratio is calculated by dividing noninterest expense (less intangible asset amortization and acquisition, adjusted net earnings, adjusted return on av
Slide 34: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in thousands, except per share data) 1Q26 4Q25 3Q25 2Q25 1Q25 Tangible Common Equity Ratio Total stockholders' equity $3,553,326 $3,541,277 $3,466,739 $3,426,843 $3,521,656 Less: preferred stock 498,516 498,516 498,516 498,516 498,516 Total common equity 3,054,810 3,042,76
Slide 35: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Return on Average Tangible Common Equity ("ROATCE") Net earnings $71,952 $77,391 $69,629 $28,385 $53,568 Earnings before income taxes $73,061 Add: Intangible asset amortization 7,160 Adjusted earnings before income used for ROATCE 80,
Slide 36: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in thousands, except per share amounts) 1Q26 4Q25 3Q25 2Q25 1Q25 Adjusted Net Earnings Net earnings $71,952 $77,391 $69,629 $28,385 $53,568 Earnings before income taxes $73,061 Add: FDIC special assessment - Adjusted earnings before income taxes 73,061 Adjusted income tax
Slide 37: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 PTPP Income Net interest income $251,617 $251,362 $253,444 $240,216 $232,364 Add: Noninterest income 35,328 41,571 34,285 32,633 33,650 Total revenue 286,945 292,933 287,729 272,849 266,014 Less: Noninterest expense (181,391) (180,644
Slide 38: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Adjusted Efficiency Ratio Noninterest expense $181,391 $180,644 $185,684 $185,869 $183,653 Less: Intangible asset amortization (6,348) (6,788) (7,160) (7,159) (7,160) Less: Acquisition, integration, and reorganization costs - - - - -
Slide 39: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Adjusted Noninterest Expense to Average Total Assets Noninterest expense $181,391 $180,644 $185,684 $185,869 $183,653 Less: Customer related expense (23,737) (24,870) (26,227) (26,577) (27,751) Adjusted noninterest expense $157,654 $1
Slide 40: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in millions) 1Q26 4Q25 1Q25 Core Deposits Total Deposits $27,322 $27,843 $27,193 Less: Brokered CDs (2,562) (2,433) (1,995) Less: Brokered Non-maturity Deposits (226) (480) (667) Total Core Deposits $24,534 $24,930 $24,531 First Quarter 2026 Earnings | 40
Slide 41: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in millions) 1Q26 4Q25 Core Loans Total Loans HFI $24,780 $25,033 Discontinued Area Loans: Less: Premium Finance Loans (408) (448) Less: Student Loans (250) (262) Less: Civic Loans (27) (39) Total Discontinued Area Loans (685) (749) Total Core Loans $24,095 $24,284 First Q
Slide 42: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Economic Coverage Ratio Allowance for credit losses ("ACL") $276,521 $280,533 $270,722 $258,565 $264,557 Add: Unearned credit mark from purchase accounting (1) 14,315 15,865 17,496 19,199 20,870 (2) Add: Credit-linked notes 104,988 10
Slide 43: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in thousands) 1Q26 Adjusted ACL for Lower Loss Loan Categories Ratio Allowance for credit losses ("ACL") $276,521 Less: ACL on lower loss loan categories: ACL on warehouse lending loan portfolio (2,822) ACL on equity fund loan portfolio (426) ACL on lender finance loan por