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Former President Bill Clinton will deliver the keynote address at the November event, which is expected have more than 5,000 participating students.
October 2 -
Banc of California in Irvine is working to address material weaknesses in its internal controls.
August 20 -
Banc of California in Irvine reported a jump in second-quarter profits, fueled by strong growth in its loan portfolio.
July 31 -
Banc of California suffered from growing pains -- and a big third-quarter loss -- due to rapid expansion. CEO Steven Sugarman must prove to investors in 2014 that his efforts are leading to a stronger company.
December 26
Banc of California in Irvine reported strong earnings growth in the third quarter thanks to a massive surge in fees from the sale of loans.
The $4.5 billion-asset company reported a 32% increase in net income during the third quarter, to $11.2 million. Earnings per share of 31 cents beat the estimates of analysts polled by Bloomberg by 6 cents.
Noninterest income climbed 142% from a year earlier, to $44.1 million. This uptick was driven by a $10.3 million gain on sales of loans, up from just a $500,000 gain in the last year's third quarter. Meanwhile, mortgage banking income rose by 66%, to $26.9 million.
Net interest income rose 7%, to $38.2 million, while the net interest margin widened 33 basis points, to 3.58%.
Total loans and leases rose nearly 22% year over year, to $3.8 billion. The company recorded a $2.8 million loan loss provision in the third quarter, compared to $2.1 million last year.
The company's noninterest expenses increased 29%, to $67.6 million, as salaries and employee benefits jumped 36%, to $41.1 million.
