Banc Of California, Inc. · NYSE:BANC
Banc Of California — FY2013 Earnings Presentation
10 slides from Banc Of California's earnings presentation, Mar 13, 2014
Slide 1: Year End 2013 Earnings Presentation
BANC OF CALIFORNIA Year End 2013 Earnings Presentation March 13, 2014
Slide 2: Forward-looking Statements
Forward-looking Statements ed to the Securities and Exchange Commission (the “SEC”), in press releases or other public shareholder orized executive officer, the words or phrases “believe,” “will,” “should,” “will likely result,” “are expected to,” “will continue,” “ or similar expressions are intend
Slide 3: Key Accomplishments in 2013
Key Accomplishments in 2013 Completed acquisition of The Private Bank of California, CS Financial, and The Palisades Group, and the disposition of eight non-core branches Merged subsidiary banks under a national bank charter Implemented new core banking system and core mortgage loan origination syst
Slide 4: Recent Updates
Recent Updates Approval of Financial Holding Company Election in January 2014 Banking subsidiaries must be well capitalized and well managed and have satisfactory record of meeting community credit needs Holding Company must be well capitalized and well managed Streamlining of Senior Management Posi
Slide 5: Banc of California NA and The Palisades Group
Banc of The Palisades California NA(1) Group LLC(2) Assets / Assets Under Advisement(3) $3.6 billion $1.6 billion Net Revenue $200 million $9 million Expenses ($165 million) ($7 million) Pre-Tax, Pre-Provision Profits $35 million $2 million Provisions $8 million NA Pre-Tax Profits $27 million $2 m
Slide 6: Banc of California Inc.
Banc of California Inc.(1) Total Assets including Under Advisement(2) $4.5 billion Net Revenue $194 million Expenses ($179 million) Pre-Tax, Pre-Provision Profits $15 million Provisions $8 million Pre-Tax Profits $7 million Average Assets $2.8 billion ROAA (pre-tax) 0.3% Average Equity $265 mi
Slide 7: Taxes and Accounting Updates — 2013
Taxes and Accounting Updates — 2013 Taxes Accounting Effective tax rate of 99% in 2013 Moved approximately $500 reduces net income to $79k million of jumbo SFR production to HFS from HFI. HFS valuation Full DTA valuation allowance of based on lower of cost or market $17.3 million as of 12/31/13 resu
Slide 8: Expense Reduction Initiative
Expense Reduction Initiative Efficiency ratio at bank was under 65%" in 4Q13 (inclusive of non-recurring costs and benefits), but still much work to be done. Ongoing expense reduction efforts continue to focus on mortgage banking operations in overlapping senior leadership Mortgage banking initiativ
Slide 9: Loan balances by type
% of YoY Loan Type Dec’12 Sep’13 Dec’13 Total % Inc Residential $750 $1,920 $2,000 63% 167% Conforming (flow) 110 260 190 6% 73% Jumbo (non-flow) 580 870 1,050 33% 81% Seasoned 60 790 760 24% 1167% Commercial $610 $1,040 $1,160 37% 90% Commercial (C&I) 80 250 290 9% 263% Commercial Real 340 48
Slide 10: Loan production by type
Loan Type 4Q13 FY 2013(2) 4Q13 to Total Residential $930 $3,620 26% Conforming (flow) 550 1,940 28% Jumbo (non-flow) 380 830 46% Seasoned - 850 0% Commercial $220 $390 56% Commercial (C&I) 60 90 67% Commercial Real 100 190 53% Estate Multi-Family 30 50 60% Specialties / Other 30 60 50% Total