Chief Credit Officer Sells 10,399 Shares as Banc of California Q1 EPS Climbs 50%
Chief Credit Officer Bryan M. Corsini sold 10,399 Banc of California shares for approximately $192,589. Banc of California posted 50% EPS growth to $0.39 and $287 million revenue in Q1, expanded net interest margin to 3.24%, and achieved 4% annualized growth in loans and noninterest-bearing deposits.
1. Insider Sale Details
Chief Credit Officer Bryan M. Corsini sold 10,399 shares at $18.52 each on April 29, yielding roughly $192,589. Following the sale, Corsini holds 83,710 shares, while the stock has fallen 3.18% that day and 2.80% year-to-date.
2. Q1 Financial Results
Banc of California reported first-quarter earnings of $0.39 per share, a 50% increase from the prior year, alongside $287 million in revenue versus $266 million a year earlier. This marks the fourth consecutive quarter the company exceeded earnings estimates.
3. Profitability Metrics
Net interest margin expanded to 3.24%, reflecting improved profitability on loans versus deposits. The bank also achieved 4% annualized growth in average loans and noninterest-bearing deposits, highlighting stronger earning assets and funding stability.
4. Book Value and Deposit Growth
Book value per share stood at $19.80 with a tangible book value of $17.77, providing a solid capital cushion. Consistent growth in core deposits and loan balances supports the bank’s balance sheet resilience.