BANC - Banc of California Non-GAAP EPS of $0.45 beats by $0.02 revenue of $85.49M misses by $0.46M
- Banc of California press release ( NYSE: BANC ): Q2 Non-GAAP EPS of $0.45 beats by $0.02 .
- Revenue of $85.49M (+35.1% Y/Y) misses by $0.46M .
- The effective tax rate for 2022 is expected to be similar to the effective income tax rate for the second quarter of 27.6%.
- Lynn Hopkins, Chief Financial Officer of Banc of California, said, “During the second quarter, our net interest margin increased seven basis points. We believe our current loan pipeline reflects the higher interest rate environment, which should lead to additional expansion in our net interest margin going forward, providing us with another catalyst for driving further increases in earnings per share and our level of returns.”
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Banc of California Non-GAAP EPS of $0.45 beats by $0.02, revenue of $85.49M misses by $0.46M