Form 8-K

8-K — BANC OF CALIFORNIA, INC.

Accession: 0001628280-26-050358

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0001169770

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — banc-20260729.htm (Primary)

EX-99.1 (ex991_063026er.htm)

EX-99.2 (banc2q26investorpresenta.htm)

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8-K

8-K (Primary)

Filename: banc-20260729.htm · Sequence: 1

banc-20260729

0001169770false00011697702026-07-292026-07-290001169770us-gaap:CommonStockMember2026-07-292026-07-290001169770us-gaap:SeriesFPreferredStockMember2026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026

BANC OF CALIFORNIA, INC.

(Exact name of registrant as specified in its charter)

Maryland

001-35522

04-3639825

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

11611 San Vicente Boulevard, Suite 500, Los Angeles, California 90049

(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (855) 361-2262

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of

the following provisions (see General Instruction A.2.):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which

registered

Common Stock, par value $0.01 per share

BANC

New York Stock Exchange

Depositary Shares, each representing a 1/40th interest in a share of 7.75% fixed rate

reset non-cumulative perpetual preferred stock, Series F

BANC/PF

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of

this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with

any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Conditions.

On July 29, 2026, Banc of California, Inc. (the “Company”) issued a press release announcing financial results for

the second quarter ended June 30, 2026.

A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.

Item 7.01 Regulation FD Disclosure.

The Company will host a conference call to discuss its second quarter 2026 results at 08:00 A.M. Pacific Time on

Wednesday, July 29, 2026. Interested parties may attend the conference call by dialing (888) 317-6003 and

referencing event code 9364475. A live audio webcast will be available through the webcast link to be posted on the

Company’s Investor Relations website at www.bancofcal.com/investor, in addition to the slide presentation for

investor review prior to the call. A copy of the presentation materials is furnished herewith as Exhibit 99.2 and is

incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1Banc of California, Inc. Press Release dated July 29, 2026

99.2Banc of California, Inc. Earnings Conference Call Presentation Materials

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be

signed on its behalf by the undersigned hereunto duly authorized.

BANC OF CALIFORNIA, INC.

/s/ Joseph Kauder

Joseph Kauder

Executive Vice President and

Chief Financial Officer

Date: July 29, 2026

EX-99.1

Filename: ex991_063026er.htm · Sequence: 2

EX99.1_06.30.26 ER

Second Quarter 2026 Results

Press Release

Banc of California, Inc. Reports Second Quarter 2026 Financial Results and Announces Strategic Balance Sheet

Repositioning to Enhance Long-Term Earnings

Company Release – 7/29/2026

Quarter Results

Loan Average

Annualized Growth

12%

Deposit Annualized

Growth

$2.3 billion

Securities Repositioning

$18.38

Book Value Per Share

$16.44

Tangible Book Value

Per Share(1)

$(1.61)

Loss Per Share

LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (“Banc of California” or the “Company”), the

parent company of wholly-owned subsidiary Banc of California (the “Bank”), today reported financial results for the second quarter ended

June 30, 2026.

During the second quarter, the Company completed a strategic reallocation of capital toward higher return opportunities to further

strengthen long-term earnings, expand net interest margin, and increase balance sheet flexibility. The Company took three specific actions

including (i) the repositioning of $2.3 billion of lower-yielding securities, (ii) initiating the sale of $827.0 million of selected commercial

real estate and multi-family construction loans, and (iii) the retirement of $385.0 million of subordinated debt prior to higher contractual

interest reset.

The Company transferred $2.3 billion of lower-yielding held-to-maturity securities to available-for-sale, and subsequently sold and

redeployed a portion of the proceeds into higher-yielding, shorter-duration available-for-sale securities. The securities repositioning

generated a 276 basis point yield pickup on redeployed balances, reduced portfolio duration, and improved the risk-weighted asset profile

of the securities portfolio, all while maintaining capital ratios significantly above “well capitalized” regulatory thresholds.

The Company also commenced a targeted sale process of $827.0 million of commercial real estate and multi-family construction loans to

reduce selected credit exposures and lower the potential for future credit-related earnings volatility. Following a competitive loan sale

process, the Company has entered into purchase and sale agreements for the loans transferred to held-for-sale during the quarter and

expects the transactions to close in the third quarter. In addition, the Company retired $385.0 million of subordinated debt prior to a

significantly higher interest rate reset. Taken together, these actions are expected to immediately improve net interest margin, support

higher recurring earnings, and accelerate organic capital generation.

The Company reported a net loss available to common and equivalent stockholders of $251.3 million, or $(1.61) per diluted common

share, reflecting the near-term impact of these strategic actions.

Jared Wolff, Chairman & CEO of Banc of California, commented, “During the second quarter, we made a strategic decision to reallocate

capital toward opportunities that we believe will enhance long-term returns for our shareholders. We implemented that strategy through

three complementary actions including a securities repositioning, a targeted loan sale and the retirement of higher-cost subordinated debt,

that together create a more efficient balance sheet and position the Company for even stronger long-term financial performance."

Mr. Wolff continued, "These actions resulted in significant one-time charges, but they increase our long-term earnings power, improve

capital efficiency and provide greater financial flexibility to support future growth. Just as importantly, they allow us to focus our capital

on the businesses, clients and markets where we see the greatest opportunities to create shareholder value.”

(1) Non-GAAP measure; refer to section 'Non-GAAP Measures'

Second Quarter 2026 Financial Highlights:

•Executed a securities repositioning to drive higher recurring earnings power, including the sale of $2.3 billion of lower-yielding

securities and partial redeployment of $1.7 billion into higher-yielding shorter-duration securities, with the remaining proceeds

expected to be invested in the third quarter of 2026. The repositioning generated a 276 basis point yield pickup on redeployed balances

and resulted in a $256.7 million pre-tax loss on securities.

•Commenced a targeted loan sale process involving $827.0 million of loans to reduce selected exposures, enhance capital efficiency,

and improve the risk profile of the loan portfolio. Total provision expense of $161.8 million includes the impact of transferring these

loans to held for sale at the lower of cost or market value.

•Retired $385.0 million of subordinated debt prior to a significantly higher interest rate reset, reducing future funding costs and

supporting stronger pre-tax pre-provision earnings.

•Average loans increased $556.1 million, or 2.3%, during the quarter, driven by $2.8 billion of loan production and

disbursements with a weighted average interest rate on production of 6.39%.

•Total deposits increased $799.0 million, or 2.9% during the quarter, with average noninterest-bearing deposits comprising

28.5% of average total deposits.

•Loan-to-deposit ratio decreased 235 basis points to 89.3%.

•Credit quality trends were favorable, as classified loans and leases and special mention loans and leases as a percentage of total

loans and leases held for investment declined by 99 basis points, and 154 basis points, respectively.

•Capital ratios(1) exceeded the regulatory thresholds for "well capitalized" banks, including an estimated 11.67% Tier 1 capital

ratio and 9.25% CET 1 capital ratio. The CET 1 ratio is expected to increase to approximately 9.45-9.50% upon closing of the targeted

loan sale and to approximately 9.50-9.60% at the end of the third quarter.

•Book value per share and tangible book value per share(2) were $18.38 and $16.44, respectively, reflecting the near-term impact of

the strategic balance sheet repositioning actions completed during the quarter.

(1) Capital ratios for June 30, 2026 are preliminary

(2) Non-GAAP measure; refer to section 'Non-GAAP Measures'

INCOME STATEMENT HIGHLIGHTS

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

Summary Income Statement

2026

2025

2026

2025

(In thousands)

Total interest income

$414,596

$407,442

$420,509

$822,038

$827,164

Total interest expense

164,095

155,825

180,293

319,920

354,584

Net interest income

250,501

251,617

240,216

502,118

472,580

Provision for credit losses

161,780

9,800

39,100

171,580

48,400

(Loss) gain on loans and leases HFS

(12,544)

(12,534)

232

Loss on securities AFS

(256,749)

—

(256,749)

—

Other noninterest income

35,197

35,318

32,612

70,515

66,051

Total noninterest (loss) income

(234,096)

35,328

32,633

(198,768)

66,283

Total revenue

16,405

286,945

272,849

303,350

538,863

Total noninterest expense

189,867

181,391

185,869

371,258

369,522

(Loss) earnings before income taxes

(335,242)

95,754

47,880

(239,488)

120,941

Income tax (benefit) expense

(93,895)

23,802

19,495

(70,093)

38,988

Net (loss) earnings

(241,347)

71,952

28,385

(169,395)

81,953

Preferred stock dividends

9,947

19,894

Net (loss) earnings available to common

and equivalent stockholders

$(251,294)

$62,005

$18,438

$(189,289)

$62,059

Diluted (loss) earnings per share

$(1.61)

$0.39

$0.12

$(1.22)

$0.38

Net Interest Income and Margin

Second Quarter of 2026 Compared to First Quarter of 2026

Net interest income decreased by $1.1 million to $250.5 million for the second quarter, from $251.6 million in the first quarter. This

decrease was driven by an $8.3 million increase in total interest expense, offset partially by a $7.2 million increase in total interest income.

The increase in interest expense was due to a $4.0 million increase in interest expense on deposits, attributable to higher average balances,

and a $4.2 million increase in interest expense on our borrowings driven by higher average balances to fund loan growth and replace

subordinated debt funding, following the redemption of the 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031 during the second

quarter. The increase in interest income was driven by a $10.4 million increase from higher average loan balances and an additional day in

the quarter, and a $2.3 million increase from investments and deposits in financial institutions driven by higher average balances as a result

of the securities repositioning. These increases were offset partially by a $4.6 million reduction primarily related to loans placed on

nonaccrual status.

Net interest margin was 3.13% for the second quarter, down 11 basis points from 3.24% for the first quarter. Upon closing of the targeted

loan sale, net interest margin is expected to increase to approximately 3.30%. The decrease was primarily driven by nonaccrual interest

impacts and an increase in short-term funding associated with strong loan growth and the redemption of subordinated debt, while core

deposit growth strengthened toward quarter-end, improving the Company's funding profile entering the third quarter. The average total

cost of funds increased to 2.14% from 2.10%, as a result of a 2 basis point increase in the average total cost of deposits to 1.80%, and a 19

basis point decrease in the average cost of borrowings to 4.44%. The average yield on interest-earning assets decreased to 5.18% from

5.25%, as a result of a 11 basis point decrease in the average yield on loans and leases to 5.63%.

Average total deposits increased by $299.1 million, with a $323.5 million increase in average interest-bearing deposits, offset partially by a

$24.4 million decrease in average noninterest-bearing deposits. Average noninterest-bearing deposits represented 28.5% of average total

deposits in the second quarter, down from 28.9% in the first quarter.

Three Months Ended

Increase (Decrease)

June 30, 2026

March 31, 2026

QoQ

Summary

Interest

Average

Interest

Average

Average Balance

Average

Income/

Yield/

Average

Income/

Yield/

Average

Yield/

and Yield/Cost Data

Balance

Expense

Cost

Balance

Expense

Cost

Balance

Cost

(Dollars in thousands)

Assets:

Loans and leases(1)

$25,266,712

$354,832

5.63%

$24,710,609

$349,943

5.74%

$556,103

(0.11)%

Investment securities

4,938,232

42,407

3.44%

5,018,002

41,873

3.38%

(79,770)

0.06%

Deposits in financial institutions

1,912,585

17,357

3.64%

1,742,657

15,626

3.64%

169,928

—%

Total interest-earning assets

$32,117,529

$414,596

5.18%

$31,471,268

$407,442

5.25%

$646,261

(0.07)%

Liabilities:

Noninterest-bearing demand deposits

$7,866,139

$7,890,489

$(24,350)

Total interest-bearing deposits

19,752,609

$124,270

2.52%

19,429,112

$120,233

2.51%

323,497

0.01%

Total deposits

$27,618,748

124,270

1.80%

$27,319,601

120,233

1.78%

$299,147

0.02%

Total interest-bearing liabilities

$22,851,314

$164,095

2.88%

$22,148,512

$155,825

2.85%

$702,802

0.03%

Net interest income(1)

$250,501

$251,617

Net interest margin

3.13%

3.24%

(0.11)%

Total funds(2)

$30,717,453

$164,095

2.14%

$30,039,001

$155,825

2.10%

$678,452

0.04%

______________

(1) Includes net loan discount accretion of $11.2 million and $12.2 million for the three months ended June 30, 2026 and March 31, 2026, respectively.

(2) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense

divided by average total funds.

YTD June 30, 2026 vs YTD June 30, 2025

Net interest income increased $29.5 million to $502.1 million for the six months ended June 30, 2026, from $472.6 million for the six

months ended June 30, 2025. The increase was primarily driven by a $41.0 million decrease in interest expense on deposits primarily due

to lower interest rates following federal funds rate cuts, and an $8.8 million increase in interest income from investment securities

reflecting the benefits of prior balance sheet repositioning actions and reinvestment into higher-yielding assets. These benefits were offset

partially by a $10.3 million decrease in interest income from deposits in financial institutions due to lower balances and lower market

interest rates, a $6.3 million increase in borrowing costs associated with funding loan growth and the subordinated debt redemption in the

second quarter of 2026, and a $3.6 million decrease in loan interest income primarily attributable to a reversal of previously accrued

interest on loans placed on nonaccrual status, offset partially by the benefit of higher average loan balances.

The net interest margin was 3.18% for the six months ended June 30, 2026, up 9 basis points from 3.09% for the six months ended June

30, 2025. The year-over-year improvement was primarily driven by a 30 basis point decrease in the average total cost of funds to 2.12%,

offset partially by a 20 basis point decrease in the average yield on interest-earning assets to 5.21%.

The average total cost of funds decreased by 30 basis points to 2.12%, driven mainly by lower market interest rates. The average cost of

deposits declined by 33 basis points to 1.79%, reflecting the impact of federal funds rate cuts in the second half of 2025. Average total

deposits increased by $356.0 million year over year, as a result of a $229.2 million increase in average noninterest-bearing deposits and a

$126.8 million increase in average interest-bearing deposits. Average noninterest-bearing deposits represented 28.7% of average total

deposits for the six months ended June 30, 2026, up from 28.2% for the comparable period in 2025. The average cost of borrowings also

decreased by 60 basis points to 4.52%, reflecting the paydown of higher-cost borrowings in the prior year and their replacement with

lower-cost long-term Federal Home Loan Bank ("FHLB") advances.

The average yield on interest-earning assets declined by 20 basis points to 5.21%, due primarily to a 23 basis point decline in the average

yield on loans and leases.

Six Months Ended

Increase (Decrease)

June 30, 2026

June 30, 2025

YoY

Summary

Interest

Average

Interest

Average

Average Balance

Average

Income/

Yield/

Average

Income/

Yield/

Average

Yield/

and Yield/Cost Data

Balance

Expense

Cost

Balance

Expense

Cost

Balance

Cost

(Dollars in thousands)

Assets:

Loans and leases(1)

$24,990,197

$704,775

5.69%

$24,148,460

$708,406

5.92%

$841,737

(0.23)%

Investment securities

4,977,896

84,280

3.41%

4,726,957

75,478

3.22%

250,939

0.19%

Deposits in financial institutions

1,828,090

32,983

3.64%

1,979,843

43,280

4.41%

(151,753)

(0.77)%

Total interest-earning assets

$31,796,183

$822,038

5.21%

$30,855,260

$827,164

5.41%

$940,923

(0.20)%

Liabilities:

Noninterest-bearing demand

deposits

$7,878,247

$7,649,000

$229,247

Total interest-bearing deposits

19,591,754

$244,503

2.52%

19,464,984

$285,470

2.96%

126,770

(0.44)%

Total deposits

$27,470,001

244,503

1.79%

$27,113,984

285,470

2.12%

$356,017

(0.33)%

Total interest-bearing liabilities

$22,501,855

$319,920

2.87%

$21,923,564

$354,584

3.26%

$578,291

(0.39)%

Net interest income(1)

$502,118

$472,580

Net interest margin

3.18%

3.09%

0.09%

Total funds(2)

$30,380,102

$319,920

2.12%

$29,572,564

$354,584

2.42%

$807,538

(0.30)%

______________

(1) Includes net loan discount accretion of $23.4 million and $32.1 million for the six months ended June 30, 2026 and 2025.

(2) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense

divided by average total funds.

Provision For Credit Losses

Second Quarter of 2026 Compared to First Quarter of 2026

The provision for credit losses was $161.8 million for the second quarter compared to $9.8 million for the first quarter. The increase was

primarily driven by $161.6 million of charge-offs, the impact of loan growth and higher loss given default rates on commercial real estate

and multi-family construction loans, offset partially by improved risk ratings for our held for investment ("HFI") portfolio. The increase in

net charge-offs in the quarter related primarily to the transfer of $827.0 million of loans to held for sale ("HFS") in connection with the

targeted loan sale process. The transfer required the loans to be recorded at lower of cost or market value, resulting in charge-offs and

additional provision expense during the quarter.

The first quarter provision for loan losses and unfunded loan commitments was primarily driven by net charge off activity and changes in

loan risk ratings including specific reserves, offset partially by lower balances in the HFI portfolio and lower qualitative reserves.

YTD June 30, 2026 vs YTD June 30, 2025

The provision for credit losses was $171.6 million for the six months ended June 30, 2026, compared to $48.4 million for the six months

ended June 30, 2025. The provision for 2026 included a provision for loan losses of $171.8 million, including the impact of the proposed

targeted loan sale process, offset by a $2.0 million reduction in provision for unfunded loan commitments.

The provision for the six months ended June 30, 2025 included the impact of $506.7 million of loans transferred to HFS and recorded at

the lower of cost or market value. The remaining increase in the provision for loan losses and unfunded loan commitments was primarily

driven by net charge-off activity experienced in the first half of the year, with additional impacts from changes in loan risk ratings, and

higher unfunded commitments. These were offset partially by lower qualitative reserves, lower specific reserves, and a favorable shift in

the portfolio mix due to growth in loan segments with lower expected credit losses.

Noninterest Income

Second Quarter of 2026 Compared to First Quarter of 2026

Noninterest income decreased by $269.4 million, resulting in a loss of $234.1 million for the second quarter, compared to noninterest

income of $35.3 million for the first quarter. The decrease was primarily driven by a $256.7 million pre-tax loss recognized as part of the

securities repositioning, and a $12.5 million loss recorded as part of the lower of cost or market adjustment on HFS loans. Also included in

noninterest income was a $3.1 million loss related to the redemption of $385.0 million aggregate principal amount of subordinated notes

during the quarter. The loss was offset partially by a $3.8 million gain recognized on the sale of the Company's single-family mortgage

servicing rights portfolio, which serviced approximately $1.35 billion of underlying loans.

YTD June 30, 2026 vs YTD June 30, 2025

Noninterest income decreased by $265.1 million to a loss of $198.8 million for the six months ended June 30, 2026, compared to income

of $66.3 million for the same period 2025. The year-to-date decrease was primarily attributable to the $256.7 million pre-tax loss

recognized as part of the securities repositioning, and a $12.5 million lower of cost or market adjustment on the HFS loans, as discussed

above.

Noninterest Expense

Second Quarter of 2026 Compared to First Quarter of 2026

Noninterest expense increased by $8.5 million to $189.9 million for the second quarter from $181.4 million for the first quarter, primarily

reflecting a $7.7 million increase in insurance and assessment due to a higher FDIC assessment rate resulting from the balance sheet

repositioning and its effect on assessment-related metrics and a $5.0 million increase in other expense related mainly to software

obsolescence charges. These increases were offset partially by a $6.0 million decrease in compensation expense due to seasonal payroll

related costs recognized in the first quarter.

YTD June 30, 2026 vs YTD June 30, 2025

Noninterest expense increased by $1.7 million to $371.3 million for the six months ended June 30, 2026 from $369.5 million for the six

months ended June 30, 2025. The increase is primarily due to a $6.3 million increase in other expense related mainly to software

obsolescence charges, a $4.6 million increase in insurance and assessment due to the higher assessment rate resulting from the balance

sheet repositioning, and a $2.5 million increase in loans expense related to legal fees. These increases were offset partially by a $6.5

million decrease in customer related expenses primarily due to federal fund rate cuts in the fourth quarter of 2025 and a $3.0 million

decrease in leased equipment depreciation.

Income Taxes

Second Quarter of 2026 Compared to First Quarter of 2026

Income tax benefit of $93.9 million was recorded for the second quarter, resulting in an effective tax rate of 28.0%, compared to income

tax expense of $23.8 million and an effective tax rate of 24.9% for the first quarter. The second quarter tax rate reflects the effects of the

Company's balance sheet repositioning actions. Due to the significant impact of these actions on projected annual earnings, the Company

calculated its second quarter income tax provision using a year to date effective tax rate approach rather than the estimated annual effective

tax rate method.

YTD June 30, 2026 vs YTD June 30, 2025

Income tax benefit of $70.1 million was recorded for the six months ended June 30, 2026, resulting in an effective tax rate of 29.3%,

compared to income tax expense of $39.0 million and effective tax rate of 32.2% for the same period 2025. The decrease in effective tax

rate from 2025 to 2026 is due primarily to the impact of deferred tax asset revaluation recorded following the California state tax changes

passed as part of the 2025 California budget enacted on June 30, 2025.

BALANCE SHEET HIGHLIGHTS

June 30,

March 31,

June 30,

Increase (Decrease)

Selected Balance Sheet Items

2026

2025

QoQ

YoY

(In thousands)

Cash and cash equivalents

$2,818,055

$2,217,269

$2,353,552

$600,786

$464,503

Securities available-for-sale

4,484,021

2,656,332

2,246,174

1,827,689

2,237,847

Securities held-to-maturity

—

2,313,548

2,316,725

(2,313,548)

(2,316,725)

Loans held for sale

915,171

259,049

465,571

656,122

449,600

Loans and leases held for investment

24,210,846

24,780,347

24,245,893

(569,501)

(35,047)

Total loans and leases

25,126,017

25,039,396

24,711,464

86,621

414,553

Total assets

35,030,953

34,724,241

34,250,453

306,712

780,500

Noninterest-bearing deposits

$7,758,119

$7,797,542

$7,441,116

$(39,423)

$317,003

Total deposits

28,121,182

27,322,134

27,528,433

799,048

592,749

Borrowings

2,460,363

2,551,250

1,917,180

(90,887)

543,183

Total liabilities

31,620,807

31,170,915

30,823,610

449,892

797,197

Total stockholders' equity

3,410,146

3,553,326

3,426,843

(143,180)

(16,697)

Securities

As part of the securities repositioning, the Company reclassified its entire held-to-maturity ("HTM") securities portfolio with an aggregate

amortized cost basis of $2.3 billion to available-for-sale ("AFS") securities and subsequently sold primarily all of the securities. The $2.3

billion of securities sold had an average yield of approximately 2.1% and were sold at a pre-tax loss of $251.3 million. The transaction

improved the Company's earning-asset mix by facilitating the redeployment of proceeds into higher-yielding assets while enhancing

balance sheet flexibility. As of June 30, 2026 we reinvested $1.7 billion at a weighted average yield of 4.87%, which resulted in a 276

basis point yield pickup on redeployed balances.

AFS securities increased by $1.8 billion during the second quarter to $4.5 billion at June 30, 2026 compared to $2.7 billion at March 31,

2026, due primarily to the transfer of HTM securities to AFS of $2.3 billion and purchases of $1.9 billion, offset partially by the sale of

$2.3 billion, as part of the securities repositioning, $116.9 million of principal paydowns, $16.7 million of maturities, $8.2 million decrease

in the fair value of AFS securities, and $2.0 million of net amortization. As of June 30, 2026, AFS securities had aggregate unrealized net

after-tax losses in AOCI of $145.3 million, up from $143.3 million at March 31, 2026, driven by higher interest rates.

As of June 30, 2026, there are no HTM securities.

Loans and Leases

The following table sets forth the composition, by loan category, of our loan and lease portfolio HFI as of the dates indicated:

June 30,

March 31,

December 31,

September 30,

June 30,

2026

2025

(Dollars in thousands)

Composition of Loans and Leases

Real estate mortgage:

Commercial

$4,037,229

$4,093,386

$4,314,637

$4,292,625

$4,369,401

Multi-family

5,445,475

5,955,102

6,089,417

6,124,673

6,280,791

Other residential

3,793,876

3,458,410

3,346,733

3,162,564

3,157,616

Total real estate mortgage

13,276,580

13,506,898

13,750,787

13,579,862

13,807,808

Real estate construction and land:

Commercial

360,392

364,575

379,387

395,150

381,449

Residential

1,114,459

1,527,754

1,568,240

1,759,676

1,920,642

Total real estate construction and land

1,474,851

1,892,329

1,947,627

2,154,826

2,302,091

Total real estate

14,751,431

15,399,227

15,698,414

15,734,688

16,109,899

Commercial:

Asset-based

3,318,822

3,209,338

2,951,010

2,742,519

2,462,351

Venture capital

2,440,075

2,322,261

2,222,097

1,907,601

2,002,601

Other commercial

3,353,534

3,501,388

3,804,099

3,356,537

3,288,305

Total commercial

9,112,431

9,032,987

8,977,206

8,006,657

7,753,257

Consumer

346,984

348,133

357,059

369,297

382,737

Total loans and leases HFI

$24,210,846

$24,780,347

$25,032,679

$24,110,642

$24,245,893

Total unfunded loan commitments

$5,211,632

$5,549,325

$5,433,357

$4,822,917

$4,673,596

Composition as % of Total Loans and Leases

Real estate mortgage:

Commercial

17%

18%

Multi-family

22%

24%

25%

26%

Other residential

16%

14%

13%

Total real estate mortgage

55%

56%

57%

Real estate construction and land:

Commercial

Residential

Total real estate construction and land

Total real estate

61%

63%

65%

66%

Commercial:

Asset-based

14%

13%

12%

11%

10%

Venture capital

10%

Other commercial

14%

15%

14%

Total commercial

38%

36%

33%

32%

Consumer

Total loans and leases HFI

100%

Total loans and leases HFI decreased by $569.5 million in the second quarter to $24.2 billion at June 30, 2026. The decline reflected, in

part, the transfer of $827.0 million of loans to HFS in connection with the balance sheet repositioning, including $491.9 million of multi-

family loans, $300.6 million of multi-family construction loans, and $34.5 million of commercial real estate mortgage loans. Excluding the

impact of the loans transferred to HFS, the Company continued to generate loan growth in other residential real estate mortgage loans,

venture capital loans, and asset-based lending portfolios. Loan production and disbursements totaled $2.8 billion in the second quarter with

a weighted average interest rate on production of 6.39%.

Total loans and leases HFS increased by $656.1 million in the second quarter and totaled $915.2 million at June 30, 2026. The increase

was primarily driven by the Company's targeted loan sale process discussed above.

Credit Quality

June 30,

March 31,

December 31,

September 30,

June 30,

Asset Quality Information and Ratios

2026

2025

(Dollars in thousands)

Delinquent loans and leases held for investment:

30 to 89 days delinquent

$91,196

$263,530

$108,303

$56,416

$53,900

90+ days delinquent

82,457

81,599

92,655

104,952

95,566

Total delinquent loans and leases

$173,653

$345,129

$200,958

$161,368

$149,466

Total delinquent loans and leases to loans and leases HFI

0.72%

1.39%

0.80%

0.67%

0.62%

Nonperforming assets, excluding loans held for sale:

Nonaccrual loans and leases

$203,712

$185,734

$159,168

$174,541

$167,516

90+ days delinquent loans and still accruing

—

Total nonperforming loans and leases ("NPLs")

203,712

185,734

159,168

174,541

167,516

Foreclosed assets, net

16,319

18,055

17,115

4,790

7,806

Total nonperforming assets ("NPAs")

$220,031

$203,789

$176,283

$179,331

$175,322

Classified loans and leases HFI

$582,790

$842,834

$800,330

$763,582

$656,556

Special mention loans and leases HFI

300,542

688,659

458,683

505,979

661,568

Criticized loans and leases HFI

$883,332

$1,531,493

$1,259,013

$1,269,561

$1,318,124

Allowance for loan and lease losses

$243,319

$241,600

$245,612

$240,501

$229,344

Allowance for loan and lease losses to NPLs

119.44%

130.08%

154.31%

137.79%

136.91%

NPLs to loans and leases HFI

0.84%

0.75%

0.64%

0.72%

0.69%

NPAs to total assets

0.63%

0.59%

0.51%

0.53%

0.51%

Classified loans and leases to loans and leases HFI

2.41%

3.40%

3.20%

3.17%

2.71%

Special mention loans and leases to loans and leases HFI

1.24%

2.78%

1.83%

2.10%

2.73%

Credit quality metrics improved from the first quarter, primarily reflecting the transfer of certain loans to HFS as part of the balance sheet

repositioning. Nonperforming, classified, and special mention loans and leases as a percentage of total loans held for investment increased

9 basis points, and decreased 99 basis points and 154 basis points, respectively.

At June 30, 2026, total delinquent loans and leases were $173.7 million, compared to $345.1 million at March 31, 2026. The 30 to 89 days

delinquent category decreased by $140.7 million in residential real estate construction and land loans, $32.9 million in commercial real

estate construction and land loans, and $32.8 million in multi-family real estate mortgage loans, offset partially by increases of $27.9

million in other residential real estate mortgage loans. In the 90 or more days delinquent category, there were increases of $11.8 million in

other commercial loans and $9.1 million in multi-family real estate mortgage loans, offset partially by decreases of $23.2 million in

commercial real estate loans.

At June 30, 2026, nonperforming loans and leases were $203.7 million, compared to $185.7 million at March 31, 2026. During the second

quarter, nonperforming loans and leases increased by $18.0 million due to additions of $391.7 million, offset partially by transfers to loans

HFS of $248.0 million, charge-offs of $91.8 million, paydowns of $32.4 million, and transfers to accrual status of $1.5 million.

At June 30, 2026, nonperforming assets were $220.0 million, or 0.63% of total assets, compared to $203.8 million, or 0.59% of total assets,

as of March 31, 2026. At June 30, 2026, nonperforming assets included $16.3 million of foreclosed assets, consisting primarily of single-

family residences.

Allowance for Credit Losses – Loans

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

Allowance for Credit Losses - Loans

2026

2025

2026

2025

(Dollars in thousands)

Allowance for loan and lease losses ("ALLL"):

Balance at beginning of period

$241,600

$245,612

$234,986

$245,612

$239,360

Charge-offs

(161,617)

(16,097)

(46,948)

(177,714)

(63,499)

Recoveries

1,336

2,285

2,726

3,621

5,203

Net charge-offs

(160,281)

(13,812)

(44,222)

(174,093)

(58,296)

Provision for loan losses

162,000

9,800

38,580

171,800

48,280

Balance at end of period

$243,319

$241,600

$229,344

$243,319

$229,344

Reserve for unfunded loan commitments ("RUC"):

Balance at beginning of period

$34,921

$29,571

$34,921

$29,071

Provision for credit losses

(2,000)

—

(350)

(2,000)

150

Balance at end of period

$32,921

$34,921

$29,221

$32,921

$29,221

Allowance for credit losses ("ACL") - Loans:

Balance at beginning of period

$276,521

$280,533

$264,557

$280,533

$268,431

Charge-offs

(161,617)

(16,097)

(46,948)

(177,714)

(63,499)

Recoveries

1,336

2,285

2,726

3,621

5,203

Net charge-offs

(160,281)

(13,812)

(44,222)

(174,093)

(58,296)

Provision for credit losses

160,000

9,800

38,230

169,800

48,430

Balance at end of period

$276,240

$276,521

$258,565

$276,240

$258,565

ALLL to loans and leases HFI

1.00%

0.97%

0.95%

1.00%

0.95%

ACL to loans and leases HFI

1.14%

1.12%

1.07%

1.14%

1.07%

ACL to NPLs

135.60%

148.88%

154.35%

135.60%

154.35%

ACL to NPAs

125.55%

135.69%

147.48%

125.55%

147.48%

Annualized net charge-offs to average loans and leases

2.54%

0.23%

0.72%

1.40%

0.49%

The allowance for credit losses - loans, which includes the reserve for unfunded loan commitments, totaled $276.2 million, or 1.14% of

total loans and leases at June 30, 2026, compared to $276.5 million, or 1.12% of total loans and leases at March 31, 2026. The $0.3 million

decrease in the allowance was driven by net charge-offs of $160.3 million, largely associated with loans transferred to HFS during the

quarter, offset partially by the provision of $160.0 million.

Our ability to absorb credit losses is also bolstered by (i) $105.0 million of loss coverage from the credit-linked notes, pursuant to which

the bank sold the first 5% of any losses on $2.1 billion of single-family residential mortgage loans in our portfolio; and (ii) unearned credit

marks of $12.9 million on approximately $1.2 billion of purchased loans without credit deterioration. When the loss coverage from the

credit-linked notes and unearned credit marks is added to our allowance for credit losses, this provides additional economic coverage on

top of our ACL ratio. We refer to this adjusted ACL ratio as our economic coverage ratio(1), which equaled 1.63% of total loans and leases

at June 30, 2026 compared to 1.60% at March 31, 2026.

The ACL coverage of nonperforming loans and leases was 136% at June 30, 2026 compared to 149% at March 31, 2026.

Net charge-offs were 2.54% of average loans and leases (annualized) for the second quarter, compared to net charge-offs of 0.23% for the

first quarter.

(1) Non-GAAP measure; refer to section 'Non-GAAP Measures'

Deposits and Client Investment Funds

The following table sets forth the composition of our deposits at the dates indicated:

June 30,

March 31,

December 31,

September 30,

June 30,

2026

2025

(Dollars in thousands)

Composition of Deposits

Noninterest-bearing checking

$7,758,119

$7,797,542

$7,822,787

$7,603,748

$7,441,116

Interest-bearing:

Checking

8,739,368

8,178,485

8,509,587

7,930,951

7,974,452

Money market

5,136,561

4,643,349

4,917,857

4,974,177

5,375,080

Savings

1,834,517

1,991,010

1,905,863

1,949,369

1,932,906

Time deposits:

Non-brokered

2,061,323

2,149,564

2,254,293

2,468,017

2,492,890

Brokered

2,591,294

2,562,184

2,432,970

2,258,503

2,311,989

Total time deposits

4,652,617

4,711,748

4,687,263

4,726,520

4,804,879

Total interest-bearing

20,363,063

19,524,592

20,020,570

19,581,017

20,087,317

Total deposits

$28,121,182

$27,322,134

$27,843,357

$27,184,765

$27,528,433

Composition as % of

Total Deposits

Noninterest-bearing checking

28%

29%

28%

27%

Interest-bearing:

Checking

31%

30%

29%

Money market

18%

17%

18%

19%

20%

Savings

Time deposits:

Non-brokered

Brokered

Total time deposits

16%

17%

Total interest-bearing

72%

71%

72%

73%

Total deposits

100%

Total deposits increased by $799.0 million to $28.1 billion at June 30, 2026 from $27.3 billion at March 31, 2026, driven by an increase in

interest-bearing deposits of $838.5 million and a decrease in noninterest-bearing deposits of $39.4 million. Interest-bearing deposits

increased due mainly to higher balances in checking accounts of $560.9 million and higher money market accounts of $493.2 million,

offset partially by lower savings accounts of $156.5 million and lower brokered and non-brokered time deposits of $59.1 million.

At June 30, 2026, noninterest-bearing checking deposits totaled $7.8 billion, or 28% of total deposits, compared to $7.8 billion, or 29% of

total deposits, at March 31, 2026.

At June 30, 2026, uninsured and uncollateralized deposits totaled $7.6 billion, or 27% of total deposits, compared to $7.8 billion, or 28%

of total deposits, at March 31, 2026.

In addition to deposit products, we also offer alternative, non-depository corporate treasury solutions for select clients to invest excess

liquidity. These off-balance sheet client funds totaled $1.0 billion as of June 30, 2026 and $1.2 billion as of March 31, 2026.

Borrowings

Borrowings decreased by $90.9 million to $2.5 billion at June 30, 2026 from $2.6 billion at March 31, 2026, driven primarily by the

repayment of a long-term FHLB advance.

Subordinated Debt

On May 1, 2026, the Company redeemed all $385 million outstanding aggregate principal amount of its 3.25% Fixed-to-Floating Rate

Subordinated Notes due 2031 originally issued by Pacific Western Bank. The remaining unamortized discount and debt issuance costs

were recorded as a loss on redemption of subordinated notes in noninterest income. As a result of the redemption, subordinated debt

decreased to $573.6 million at June 30, 2026, from $954.1 million at March 31, 2026.

Equity

During the second quarter, total stockholders’ equity decreased by $143.2 million to $3.4 billion and tangible common equity(1) decreased

by $136.8 million to $2.6 billion at June 30, 2026. The decrease in total stockholders’ equity for the second quarter resulted primarily from

net losses of $241.3 million and common and preferred stock dividends of $29.3 million, offset partially by a decrease in the unrealized

after-tax net loss in AOCI for AFS and HTM securities of $125.3 million.

At June 30, 2026, book value per common share decreased to $18.38 compared to $19.80 at March 31, 2026, and tangible book value per

common share(1) decreased to $16.44 compared to $17.77 at March 31, 2026. The decrease primarily reflected the repositioning actions

completed during the quarter.

For the six-month period ended June 30, 2026, the Company repurchased 1,709,935 shares of common and common equivalent stock at a

weighted average price per share of $18.68, or $31.9 million in the aggregate. As of June 30, 2026, $82.6 million remained available under

the current stock repurchase authorization, which expires in March 2027.

(1) Non-GAAP measure; refer to section 'Non-GAAP Measures'

CAPITAL AND LIQUIDITY

The following table sets forth our regulatory capital ratios as of the dates indicated:

June 30,

March 31,

December 31,

September 30,

June 30,

2026

2025

Capital Ratios(1)

Banc of California, Inc.

Total risk-based capital ratio

14.31%

16.55%

16.31%

16.69%

16.37%

Tier 1 risk-based capital ratio

11.67%

12.54%

12.34%

12.56%

12.34%

Common equity tier 1 capital ratio

9.25%

10.18%

10.01%

10.14%

9.95%

Tier 1 leverage ratio

8.89%

9.97%

9.99%

9.77%

9.74%

Banc of California

Total risk-based capital ratio

13.74%

15.97%

15.61%

15.94%

15.65%

Tier 1 risk-based capital ratio

12.68%

13.50%

13.15%

13.42%

13.21%

Common equity tier 1 capital ratio

12.68%

13.50%

13.15%

13.42%

13.21%

Tier 1 leverage ratio

9.64%

10.73%

10.65%

10.44%

10.42%

______________

(1) June 30, 2026 capital ratios are preliminary.

At June 30, 2026, cash and cash equivalents totaled $2.8 billion, up $600.8 million from March 31, 2026.

Our immediately available cash and cash equivalents (excluding restricted cash) were $2.6 billion. Combined with total available

borrowing capacity of $7.9 billion and unpledged AFS securities of $3.6 billion, total available liquidity was $14.1 billion at the end of the

second quarter.

Conference Call

The Company will host a conference call to discuss its second quarter 2026 financial results at 8:00 a.m. Pacific Time (PT) on Wednesday,

July 29, 2026. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 9364475.

A live audio webcast will also be available, and the webcast link will be posted on the Company’s Investor Relations website at

www.bancofcal.com/investor. The slide presentation for the call will also be available on the Company's Investor Relations website prior

to the call. A replay of the call will be made available approximately one hour after the call has ended on the Company’s Investor Relations

website at www.bancofcal.com/investor or by dialing (855) 669-9658 and referencing event code 7085829.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $34 billion in assets and the parent company of Banc of

California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury

management services to small, middle-market, and venture-backed businesses. Banc of California is the largest independent bank

headquartered in Los Angeles and the third largest bank headquartered in California and offers a broad range of loan and deposit products

and services through 77 full-service branches located throughout California and in Denver, Colorado, and Durham, North Carolina, as well

as through regional offices nationwide. The bank also provides full-service payment processing solutions to its clients and serves the

Community Association Management industry nationwide with its technology-forward platform, SmartStreet™. The bank is committed to

its local communities through the Banc of California Charitable Foundation, and by supporting organizations that provide financial literacy

and job training, small business support, affordable housing, and more. Member FDIC. For more information, please visit us

at www.bancofcal.com.

Forward-Looking Statements

This press release 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 regarding the

performance of our business, liquidity and capital ratios; the anticipated benefits of our strategic repositioning including, among others, a

strengthened credit profile, possible net interest income and net interest margin expansion and an enhanced earnings profile; and other non-

historical statements. Words or phrases such as “believe,” “will,” “should,” “will likely result,” “are expected to,” “will continue,” “is

anticipated,” “estimate,” “project,” “plans,” “strategy,” or similar expressions are intended to identify these forward-looking statements.

You are cautioned not to place undue reliance on any forward-looking statements. These statements are necessarily subject to risk and

uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to

time in the documents filed or furnished by the Company with the Securities and Exchange Commission ("SEC"). The Company

undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or

circumstances that occur after the date on which such statements were made, except as required by law.

Factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to: (i)

changes in general economic conditions, either nationally or in our market areas, including the impact of tariffs and retaliatory tariffs,

supply chain disruptions, and the risk of recession or an economic downturn; (ii) changes in the interest rate environment, including the

recent and potential future changes in the FRB benchmark rate, which could adversely affect our revenue and expenses, the value of assets

and obligations, the realization of deferred tax assets, the availability and cost of capital and liquidity, and the impacts of continuing or

renewed inflation; (iii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial

condition of borrowers, and the operational risk of lending activities, including the effectiveness of our underwriting practices and the risk

of fraud, any of which may lead to increased loan delinquencies, losses, and non-performing assets, and may result in our allowance for

credit losses not being adequate; (iv) fluctuations in the demand for loans, and fluctuations in commercial and residential real estate values

in our market area; (v) the quality and composition of our securities portfolio; (vi) our ability to develop and maintain a strong core deposit

base, including among our venture banking clients, or other low cost funding sources necessary to fund our activities particularly in a

rising or high interest rate environment; (vii) the rapid withdrawal of a significant amount of demand deposits over a short period of time;

(viii) our ability to achieve or maintain the anticipated benefits of our strategic repositioning due to one or more of the other factors

described herein or otherwise, or the failure to complete our anticipated loan sales due to a condition to closing not being satisfied or

otherwise; (ix) our ability to raise capital or incur debt on reasonable terms; (x) the costs and effects of litigation; (xi) risks related to the

Company’s acquisitions, including disruption to current plans and operations; difficulties in customer and employee retention; fees,

expenses and charges related to these transactions being significantly higher than anticipated; and our inability to achieve expected

revenues, cost savings, synergies, and other benefits; (xii) the competitive and other impacts on our business of emerging technologies,

including stablecoins and other digital currencies, tokenized deposits, blockchain, artificial intelligence, quantum computing, and related

innovations affecting both the Company and the banking industry; (xiii) results of examinations by regulatory authorities of the Company

and the possibility that any such regulatory authority may, among other things, limit our business activities, restrict our ability to invest in

certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase our allowance for credit losses,

result in write-downs of asset values, restrict our ability or that of our bank subsidiary to pay dividends, or impose fines, penalties or

sanctions; (xiv) legislative or regulatory changes that adversely affect our business, including changes in tax laws and policies, accounting

policies and practices, privacy laws, and regulatory capital or other rules; (xv) the risk that our enterprise risk management framework may

not be effective in mitigating risk and reducing the potential for losses; (xvi) errors in estimates of the fair values of certain of our assets

and liabilities, as well as the value of collateral supporting our loans, which may result in significant changes in valuation or recoveries;

(xvii) cybersecurity threats and failures or security breaches with respect to the network, applications, vendors and computer systems on

which we depend; (xviii) our ability to attract and retain key members of our senior management team; (xix) the effects of climate change,

severe weather events, natural disasters such as earthquakes and wildfires, pandemics, epidemics and other public health crises, military

activity (including the ongoing Iran war) or acts of terrorism, and other external events on our business; (xx) the impact of bank failures or

other adverse developments at other banks on general depositor and investor sentiment regarding the stability and liquidity of banks; (xxi)

the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; (xxii)

our existing indebtedness, together with any future incurrence of additional indebtedness, could adversely affect our ability to raise

additional capital and to meet our debt obligations; (xxiii) changes in market conditions or strategic balance sheet actions, which may result

in realized losses on investment securities or other assets; (xxiv) the effects of any damage to our reputation resulting from developments

related to any of the items identified above; and (xxv) other economic, competitive, governmental, regulatory, and technological factors

affecting our operations, pricing, products and services and the other risks described in our Annual Report on Form 10-K for the fiscal year

ended December 31, 2025 and from time to time in other documents that we file with or furnish to the SEC.

Non-GAAP Financial Measures

Included in this press release are certain non-GAAP financial measures, such as tangible common equity, tangible book value per common

share, return on average tangible common equity, pre-tax pre-provision income, efficiency ratio, and economic coverage ratio, designed to

complement the financial information presented in accordance with U.S. GAAP because management believes such measures are useful to

investors. These non-GAAP financial measures should be considered only as supplemental to, and not superior to, financial measures

provided in accordance with GAAP. Please refer to the “Non-GAAP Measures” section of this release for additional detail including

reconciliations of the non-GAAP financial measures included in this press release to the most directly comparable financial measures

prepared in accordance with GAAP.

Investor Relations Inquiries:

Banc of California, Inc.

(855) 361-2262

Jared Wolff, (310) 424-1230

Joe Kauder, (310) 844-5224

Ann DeVries, (646) 376-7011

Media Contact:

Debora Vrana, Banc of California

(213) 533-3122

Deb.Vrana@bancofcal.com

BANC OF CALIFORNIA, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(UNAUDITED)

June 30,

March 31,

December 31,

September 30,

June 30,

2026

2025

ASSETS:

(Dollars in thousands)

Cash and due from banks

$225,343

$214,120

$181,103

$205,364

$222,210

Interest-earning deposits in financial institutions

2,592,712

2,003,149

2,126,862

2,192,901

2,131,342

Total cash and cash equivalents

2,818,055

2,217,269

2,307,965

2,398,265

2,353,552

Securities AFS

4,484,021

2,656,332

2,454,058

2,426,734

2,246,174

Securities HTM

—

2,313,548

2,308,636

2,303,657

2,316,725

FRB and FHLB stock

181,352

170,342

160,442

159,337

162,243

Total investment securities

4,665,373

5,140,222

4,923,136

4,889,728

4,725,142

Loans HFS

915,171

259,049

182,936

211,454

465,571

Loans and leases HFI

24,210,846

24,780,347

25,032,679

24,110,642

24,245,893

Allowance for loan and lease losses

(243,319)

(241,600)

(245,612)

(240,501)

(229,344)

Total loans and leases HFI, net

23,967,527

24,538,747

24,787,067

23,870,141

24,016,549

Equipment leased to others under operating leases

218,444

223,558

238,232

280,872

288,692

Premises and equipment, net

145,440

146,316

146,698

132,766

138,032

Bank owned life insurance

348,777

352,707

350,083

348,051

346,142

Goodwill

214,521

Intangible assets, net

92,709

99,091

105,287

111,923

118,930

Deferred tax asset, net

704,467

653,481

656,755

672,159

691,535

Other assets

940,469

879,280

884,762

883,085

891,787

Total assets

$35,030,953

$34,724,241

$34,797,442

$34,012,965

$34,250,453

LIABILITIES:

Noninterest-bearing deposits

$7,758,119

$7,797,542

$7,822,787

$7,603,748

$7,441,116

Interest-bearing deposits

20,363,063

19,524,592

20,020,570

19,581,017

20,087,317

Total deposits

28,121,182

27,322,134

27,843,357

27,184,765

27,528,433

Borrowings

2,460,363

2,551,250

2,063,819

2,005,022

1,917,180

Subordinated debt

573,555

954,072

952,740

950,888

949,213

Accrued interest payable and other liabilities

465,707

343,459

396,249

405,551

428,784

Total liabilities

31,620,807

31,170,915

31,256,165

30,546,226

30,823,610

STOCKHOLDERS' EQUITY:

Preferred stock

498,516

Common stock

1,580

1,538

1,500

1,509

1,474

Class B non-voting common stock

Non-voting common stock equivalents

—

Additional paid-in-capital

3,485,560

3,501,213

3,552,483

3,563,145

3,609,109

Retained deficit

(431,305)

(180,011)

(242,016)

(309,460)

(369,142)

Accumulated other comprehensive loss, net

(144,210)

(267,935)

(269,261)

(287,017)

(313,217)

Total stockholders’ equity

3,410,146

3,553,326

3,541,277

3,466,739

3,426,843

Total liabilities and stockholders’ equity

$35,030,953

$34,724,241

$34,797,442

$34,012,965

$34,250,453

Common shares outstanding (1)

158,432,520

154,262,045

155,533,403

155,522,693

157,647,137

______________

(1) Common shares outstanding include non-voting common stock equivalents that are participating securities. There were no non‑voting common stock equivalents

outstanding as of June 30, 2026 and March 31, 2026.

BANC OF CALIFORNIA, INC.

CONSOLIDATED STATEMENTS OF EARNINGS

(UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

2026

2025

2026

2025

(In thousands, except per share amounts)

Interest income:

Loans and leases

$354,832

$349,943

$362,303

$704,775

$708,406

Investment securities

42,407

41,873

37,616

84,280

75,478

Deposits in financial institutions

17,357

15,626

20,590

32,983

43,280

Total interest income

414,596

407,442

420,509

822,038

827,164

Interest expense:

Deposits

124,270

120,233

144,940

244,503

285,470

Borrowings

26,568

20,177

20,021

46,745

38,442

Subordinated debt

13,257

15,415

15,332

28,672

30,672

Total interest expense

164,095

155,825

180,293

319,920

354,584

Net interest income

250,501

251,617

240,216

502,118

472,580

Provision for credit losses

161,780

9,800

39,100

171,580

48,400

Net interest income after provision for credit losses

88,721

241,817

201,116

330,538

424,180

Noninterest income:

Service charges on deposit accounts

4,763

4,978

4,456

9,741

8,999

Commissions and fees

9,034

10,980

9,641

20,014

19,599

Leased equipment income

7,820

8,530

10,231

16,350

21,015

(Loss) gain on loans and leases HFS

(12,544)

(12,534)

232

Loss on securities AFS

(256,749)

—

(256,749)

—

Dividends and gains (loss) on equity investments

3,326

2,002

(114)

5,328

2,209

Warrant income

896

938

1,227

1,834

932

Other income

9,358

7,890

7,171

17,248

13,297

Total noninterest (loss) income

(234,096)

35,328

32,633

(198,768)

66,283

Noninterest expense:

Compensation

85,120

91,100

88,362

176,220

174,779

Occupancy

14,714

14,892

15,473

29,606

30,483

Information technology and data processing

13,769

14,339

13,073

28,108

28,172

Other professional services

5,599

4,236

6,406

9,835

10,919

Insurance and assessments

14,500

6,764

9,403

21,264

16,686

Intangible asset amortization

6,349

6,348

7,159

12,697

14,319

Leased equipment depreciation

5,168

5,304

6,700

10,472

13,441

Customer related expense

24,114

23,737

26,577

47,851

54,328

Loan expense

5,170

4,292

4,050

9,462

6,980

Other expense

15,364

10,379

8,666

25,743

19,415

Total noninterest expense

189,867

181,391

185,869

371,258

369,522

(Loss) earnings before income taxes

(335,242)

95,754

47,880

(239,488)

120,941

Income tax (benefit) expense

(93,895)

23,802

19,495

(70,093)

38,988

Net (loss) earnings

(241,347)

71,952

28,385

(169,395)

81,953

Preferred stock dividends

9,947

19,894

Net (loss) earnings available to common

and equivalent stockholders

$(251,294)

$62,005

$18,438

$(189,289)

$62,059

(Loss) earnings per common share:

Basic

$(1.61)

$0.40

$0.12

$(1.22)

$0.38

Diluted

$(1.61)

$0.39

$0.12

$(1.22)

$0.38

Weighted average number of common shares outstanding: (1)

Basic

155,803

154,821

158,354

155,315

163,396

Diluted

155,803

160,832

158,462

155,315

163,667

______________

(1) Common shares outstanding include non-voting common stock equivalents that are participating securities.

BANC OF CALIFORNIA, INC.

SELECTED FINANCIAL DATA

(UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

Profitability and Other Ratios

2026

2025

2026

2025

Return on average assets (1)

(2.79)%

0.86%

0.34%

(1.00)%

0.49%

Return on average equity (1)

(27.31)%

8.22%

3.32%

(9.63)%

4.75%

Return on average tangible common equity (1)(2)

(36.18)%

9.91%

3.70%

(13.30)%

5.59%

Dividend payout ratio (3)

(7.45)%

30.00%

83.33%

(19.67)%

52.63%

Average yield on loans and leases (1)

5.63%

5.74%

5.93%

5.69%

5.92%

Average yield on interest-earning assets (1)

5.18%

5.25%

5.42%

5.21%

5.41%

Average cost of interest-bearing deposits (1)

2.52%

2.51%

2.95%

2.52%

2.96%

Average total cost of deposits (1)

1.80%

1.78%

2.13%

1.79%

2.12%

Average cost of interest-bearing liabilities (1)

2.88%

2.85%

3.24%

2.87%

3.26%

Average total cost of funds (1)

2.14%

2.10%

2.42%

2.12%

2.42%

Net interest spread

2.30%

2.40%

2.18%

2.34%

2.15%

Net interest margin (1)

3.13%

3.24%

3.10%

3.18%

3.09%

Noninterest income to total revenue (4)

(1426.98)%

12.31%

11.96%

(65.52)%

12.30%

Noninterest expense to average total assets (1)

2.20%

2.16%

2.21%

2.18%

2.22%

Noninterest expense to total revenue (4)

1157.37%

63.21%

68.12%

122.39%

68.57%

Efficiency ratio (2)(5)

67.18%

61.00%

65.50%

64.02%

65.92%

Loans to deposits ratio

89.30%

91.65%

89.77%

89.30%

89.77%

Average loans and leases to average deposits

91.48%

90.45%

89.74%

90.97%

89.06%

Average investment securities to average total assets

14.25%

14.76%

13.98%

14.50%

14.09%

Average stockholders' equity to average total assets

10.23%

10.44%

10.16%

10.33%

10.37%

______________

(1) Annualized.

(2) Non-GAAP measure.

(3) Ratio calculated by dividing dividends declared per common and equivalent share by basic (loss) earnings per common and equivalent share.

(4) Total revenue equals the sum of net interest income and noninterest income.

(5) Ratio calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs) by total revenue (the sum of net

interest income and noninterest income, less gain (loss) on securities AFS) .

BANC OF CALIFORNIA, INC.

AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID

(UNAUDITED)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Interest

Average

Interest

Average

Interest

Average

Income/

Yield/

Average

Income/

Yield/

Average

Income/

Yield/

Balance

Expense

Cost

Balance

Expense

Cost

Balance

Expense

Cost

(Dollars in thousands)

Assets:

Loans and leases (1)

$25,266,712

$354,832

5.63%

$24,710,609

$349,943

5.74%

$24,504,319

$362,303

5.93%

Investment securities

4,938,232

42,407

3.44%

5,018,002

41,873

3.38%

4,719,954

37,616

3.20%

Deposits in financial institutions

1,912,585

17,357

3.64%

1,742,657

15,626

3.64%

1,872,736

20,590

4.41%

Total interest-earning assets

32,117,529

414,596

5.18%

31,471,268

407,442

5.25%

31,097,009

420,509

5.42%

Other assets

2,527,401

2,531,433

2,667,140

Total assets

$34,644,930

$34,002,701

$33,764,149

Liabilities and Stockholders' Equity:

Interest checking

$8,313,161

47,694

2.30%

$8,175,172

46,882

2.33%

$7,778,882

52,877

2.73%

Money market

4,736,107

23,429

1.98%

4,785,691

22,826

1.93%

5,412,681

33,615

2.49%

Savings

1,883,240

9,575

2.04%

1,957,831

9,772

2.02%

1,959,987

12,777

2.61%

Time

4,820,101

43,572

3.63%

4,510,418

40,753

3.66%

4,569,490

45,671

4.01%

Total interest-bearing deposits

19,752,609

124,270

2.52%

19,429,112

120,233

2.51%

19,721,040

144,940

2.95%

Borrowings

2,399,546

26,568

4.44%

1,765,661

20,177

4.63%

1,628,584

20,021

4.93%

Subordinated debt

699,159

13,257

7.61%

953,739

15,415

6.55%

946,740

15,332

6.50%

Total interest-bearing liabilities

22,851,314

164,095

2.88%

22,148,512

155,825

2.85%

22,296,364

180,293

3.24%

Noninterest-bearing demand deposits

7,866,139

7,890,489

7,583,894

Other liabilities

382,336

415,000

453,748

Total liabilities

31,099,789

30,454,001

30,334,006

Stockholders' equity

3,545,141

3,548,700

3,430,143

Total liabilities and stockholders' equity

$34,644,930

$34,002,701

$33,764,149

Net interest income (1)

$250,501

$251,617

$240,216

Net interest spread

2.30%

2.40%

2.18%

Net interest margin

3.13%

3.24%

3.10%

Total deposits (2)

$27,618,748

$124,270

1.80%

$27,319,601

$120,233

1.78%

$27,304,934

$144,940

2.13%

Total funds (3)

$30,717,453

$164,095

2.14%

$30,039,001

$155,825

2.10%

$29,880,258

$180,293

2.42%

______________

(1) Includes net loan discount accretion of $11.2 million, $12.2 million, and $16.1 million for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025.

(2) Total deposits is the sum of total interest-bearing deposits and noninterest-bearing demand deposits. The cost of total deposits is calculated as annualized interest expense

on total deposits divided by average total deposits.

(3) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense

divided by average total funds.

BANC OF CALIFORNIA, INC.

AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE COST PAID

(UNAUDITED)

Six Months Ended

June 30, 2026

June 30, 2025

Interest

Average

Interest

Average

Income/

Yield/

Average

Income/

Yield/

Balance

Expense

Cost

Balance

Expense

Cost

(Dollars in thousands)

Assets:

Loans and leases (1)

$24,990,197

$704,775

5.69%

$24,148,460

$708,406

5.92%

Investment securities

4,977,896

84,280

3.41%

4,726,957

75,478

3.22%

Deposits in financial institutions

1,828,090

32,983

3.64%

1,979,843

43,280

4.41%

Total interest-earning assets

31,796,183

822,038

5.21%

30,855,260

827,164

5.41%

Other assets

2,529,406

2,682,266

Total assets

$34,325,589

$33,537,526

Liabilities and Stockholders' Equity:

Interest checking

$8,244,548

94,576

2.31%

$7,562,369

100,756

2.69%

Money market

4,760,762

46,255

1.96%

5,414,190

66,618

2.48%

Savings

1,920,329

19,347

2.03%

1,954,349

25,634

2.65%

Time

4,666,115

84,325

3.64%

4,534,076

92,462

4.11%

Total interest-bearing deposits

19,591,754

244,503

2.52%

19,464,984

285,470

2.96%

Borrowings

2,084,355

46,745

4.52%

1,513,790

38,442

5.12%

Subordinated debt

825,746

28,672

7.00%

944,790

30,672

6.55%

Total interest-bearing liabilities

22,501,855

319,920

2.87%

21,923,564

354,584

3.26%

Noninterest-bearing demand deposits

7,878,247

7,649,000

Other liabilities

398,577

488,060

Total liabilities

30,778,679

30,060,624

Stockholders' equity

3,546,910

3,476,902

Total liabilities and stockholders' equity

$34,325,589

$33,537,526

Net interest income (1)

$502,118

$472,580

Net interest spread

2.34%

2.15%

Net interest margin

3.18%

3.09%

Total deposits (2)

$27,470,001

$244,503

1.79%

$27,113,984

$285,470

2.12%

Total funds (3)

$30,380,102

$319,920

2.12%

$29,572,564

$354,584

2.42%

______________

(1) Includes net loan discount accretion of $23.4 million and $32.1 million for the six months ended June 30, 2026 and 2025.

(2) Total deposits is the sum of total interest-bearing deposits and noninterest-bearing demand deposits. The cost of total deposits is calculated as annualized interest expense

on total deposits divided by average total deposits.

(3) Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense

divided by average total funds.

BANC OF CALIFORNIA, INC.

NON-GAAP MEASURES

We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles (“GAAP”) in this press

release, including: tangible common equity, tangible book value per common share, return on average tangible common equity, pre-tax

pre-provision income, efficiency ratio, and economic coverage ratio. These non-GAAP measures are used by management in its analysis of

the Company's performance.

Tangible common equity is calculated by subtracting preferred stock, as applicable, from total common equity. Return on average tangible

common equity is calculated by dividing net earnings available to common stockholders, after adjustment for amortization of intangible

assets and any goodwill impairment, by average tangible common equity. Banking regulators also exclude goodwill and other intangible

assets from stockholders' equity when assessing the capital adequacy of a financial institution.

Pre-tax pre-provision income is calculated by subtracting noninterest expense from total revenue, which is the sum of net interest income

and noninterest income.

Efficiency ratio is calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and

reorganization costs) by total revenue (the sum of net interest income and noninterest income, less gain (loss) on securities AFS).

Economic coverage ratio is calculated by dividing the allowance for credit losses adjusted for the impact of the credit-linked notes and

unearned credit mark from purchase accounting by loans and leases HFI.

Management believes the presentation of these financial measures adjusting the impact of these items provides useful supplemental

information that is essential to a proper understanding of the financial results and operating performance of the Company. This disclosure

should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP

performance measures that may be presented by other companies.

The following tables provide reconciliations of the non-GAAP measures to financial measures defined by GAAP.

BANC OF CALIFORNIA, INC.

NON-GAAP MEASURES

(UNAUDITED)

Tangible Common Equity

June 30,

March 31,

December 31,

September 30,

June 30,

and Tangible Book Value Per Share

2026

2025

(Dollars in thousands, except per share amounts)

Stockholders' equity

$3,410,146

$3,553,326

$3,541,277

$3,466,739

$3,426,843

Less: Preferred stock

498,516

Total common equity

2,911,630

3,054,810

3,042,761

2,968,223

2,928,327

Less: Goodwill and intangible assets

307,230

313,612

319,808

326,444

333,451

Tangible common equity

$2,604,400

$2,741,198

$2,722,953

$2,641,779

$2,594,876

Book value per common share (1)

$18.38

$19.80

$19.56

$19.09

$18.58

Tangible book value per common share (2)

$16.44

$17.77

$17.51

$16.99

$16.46

Common shares outstanding (3)

158,432,520

154,262,045

155,533,403

155,522,693

157,647,137

______________

(1) Total common equity divided by common shares outstanding.

(2) Tangible common equity divided by common shares outstanding.

(3) Common shares outstanding include non-voting common stock equivalents that are participating securities. There were no non‑voting common stock equivalents

outstanding as of June 30, 2026 and March 31, 2026.

BANC OF CALIFORNIA, INC.

NON-GAAP MEASURES

(UNAUDITED)

Three Months Ended

Six Months Ended

Return on Average Tangible

June 30,

March 31,

June 30,

Common Equity ("ROATCE")

2026

2025

2026

2025

(Dollars in thousands)

Net (loss) earnings

$(241,347)

$71,952

$28,385

$(169,395)

$81,953

Adjustments:

Intangible asset amortization

6,349

6,348

7,159

12,697

14,319

Tax impact of adjustment above (1)

(1,778)

(1,596)

(1,655)

(3,720)

(3,311)

Adjustment to net (loss) earnings

4,571

4,752

5,504

8,977

11,008

Adjusted net (loss) earnings for ROATCE

(236,776)

76,704

33,889

(160,418)

92,961

Less: Preferred stock dividends

9,947

19,894

Adjusted net (loss) earnings available to

common and equivalent stockholders for ROATCE

$(246,723)

$66,757

$23,942

$(180,312)

$73,067

Average stockholders' equity

$3,545,141

$3,548,700

$3,430,143

$3,546,910

$3,476,902

Less: Average goodwill and intangible assets

311,068

317,215

337,352

314,125

340,961

Less: Average preferred stock

498,516

Average tangible common equity

$2,735,557

$2,732,969

$2,594,275

$2,734,269

$2,637,425

Return on average equity (2)

(27.31)%

8.22%

3.32%

(9.63)%

4.75%

ROATCE (3)

(36.18)%

9.91%

3.70%

(13.30)%

5.59%

______________

(1) Effective tax rates of 28.00%, 25.14%, and 23.12% used for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively. Effective tax rates of

29.30% and 23.12% used for the six months ended June 30, 2026 and 2025.

(2) Annualized net (loss) earnings divided by average stockholders' equity.

(3) Annualized adjusted net (loss) earnings available to common and equivalent stockholders for ROATCE divided by average tangible common equity.

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

Pre-Tax Pre-Provision (Loss) Income

2026

2025

2026

2025

(Dollars in thousands)

Net interest income (GAAP)

$250,501

$251,617

$240,216

$502,118

$472,580

Add: Noninterest (loss) income (GAAP)

(234,096)

35,328

32,633

(198,768)

66,283

Total revenues (GAAP)

16,405

286,945

272,849

303,350

538,863

Less: Noninterest expense (GAAP)

189,867

181,391

185,869

371,258

369,522

Pre-tax pre-provision (loss) income (Non-GAAP)

$(173,462)

$105,554

$86,980

$(67,908)

$169,341

BANC OF CALIFORNIA, INC.

NON-GAAP MEASURES

(UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

Efficiency Ratio

2026

2025

2026

2025

(Dollars in thousands)

Noninterest expense

$189,867

$181,391

$185,869

$371,258

$369,522

Less: Intangible asset amortization

(6,349)

(6,348)

(7,159)

(12,697)

(14,319)

Noninterest expense used for efficiency ratio

$183,518

$175,043

$178,710

$358,561

$355,203

Net interest income

$250,501

$251,617

$240,216

$502,118

$472,580

Noninterest (loss) income

(234,096)

35,328

32,633

(198,768)

66,283

Total revenue

16,405

286,945

272,849

303,350

538,863

Add: Loss on securities AFS

256,749

—

256,749

—

Total revenue used for efficiency ratio

$273,154

$286,945

$272,849

$560,099

$538,863

Noninterest expense to total revenue

1157.37%

63.21%

68.12%

122.39%

68.57%

Efficiency ratio (1)

67.18%

61.00%

65.50%

64.02%

65.92%

______________

(1) Noninterest expense used for efficiency ratio divided by total revenue used for efficiency ratio.

June 30,

March 31,

June 30,

Economic Coverage Ratio

2026

2025

(Dollars in thousands)

Allowance for credit losses ("ACL")

$276,240

$276,521

$258,565

Add: Unearned credit mark from purchase accounting (1)

12,920

14,315

19,199

Add: Credit-linked notes (2)

105,026

104,988

112,887

Adjusted allowance for credit losses

$394,186

$395,824

$390,651

Loans and leases HFI

$24,210,846

$24,780,347

$24,245,893

ACL to loans and leases HFI (3)

1.14%

1.12%

1.07%

Economic coverage ratio (4)

1.63%

1.60%

1.61%

______________

(1) Unearned credit mark from purchase accounting estimated by using the same pro rata split between the credit and yield marks associated with non-PCD loans (purchased

loans without credit deterioration at the time of purchase).

(2) Credit-linked notes loss coverage equal to 5% of the unpaid principal balance of the pledged loans.

(3) Allowance for credit losses divided by loans and leases HFI.

(4) Adjusted allowance for credit losses divided by loans and leases HFI.

EX-99.2

Filename: banc2q26investorpresenta.htm · Sequence: 3

banc2q26investorpresenta

Investor Presentation Second Quarter 2026 Results

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 regarding the performance of our business, liquidity and capital ratios; the anticipated benefits of our strategic repositioning including, among others, a strengthened credit profile, possible net interest income and net interest margin expansion, and an enhanced earnings profile; and other non-historical statements, including statements in the “2026 Updated Outlook” section of this presentation. Words or phrases such as “believe,” “will,” “should,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” “strategy,” or similar expressions are intended to identify these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by Banc of California, Inc. (the “Company”) with the Securities and Exchange Commission (“SEC”). The Company undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made, except as required by law. Factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to: (i) changes in general economic conditions, either nationally or in our market areas, including the impact of tariffs and retaliatory tariffs, supply chain disruptions, and the risk of recession or an economic downturn; (ii) changes in the interest rate environment, including the recent and potential future changes in the FRB benchmark rate, which could adversely affect our revenue and expenses, the value of assets and obligations, the realization of deferred tax assets, the availability and cost of capital and liquidity, and the impacts of continuing or renewed inflation; (iii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of our underwriting practices and the risk of fraud, any of which may lead to increased loan delinquencies, losses, and non-performing assets, and may result in our allowance for credit losses not being adequate; (iv) fluctuations in the demand for loans, and fluctuations in commercial and residential real estate values in our market area; (v) the quality and composition of our securities portfolio; (vi) our ability to develop and maintain a strong core deposit base, including among our venture banking clients, or other low cost funding sources necessary to fund our activities particularly in a rising or high interest rate environment; (vii) the rapid withdrawal of a significant amount of demand deposits over a short period of time; (viii) our ability to achieve or maintain the anticipated benefits of our strategic repositioning due to one or more of the other factors described herein or otherwise, or the failure to complete our anticipated loan sales due to a condition to closing not being satisfied or otherwise; (ix) our ability to raise capital or incur debt on reasonable terms; (x) the costs and effects of litigation; (xi) risks related to the Company’s acquisitions, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; and our inability to achieve expected revenues, cost savings, synergies, and other benefits; (xii) the competitive and other impacts on our business of emerging technologies, including stablecoins and other digital currencies, tokenized deposits, blockchain, artificial intelligence, quantum computing, and related innovations affecting both the Company and the banking industry; (xiii) results of examinations by regulatory authorities of the Company and the possibility that any such regulatory authority may, among other things, limit our business activities, restrict our ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase our allowance for credit losses, result in write-downs of asset values, restrict our ability or that of our bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xiv) legislative or regulatory changes that adversely affect our business, including changes in tax laws and policies, accounting policies and practices, privacy laws, and regulatory capital or other rules; (xv) the risk that our enterprise risk management framework may not be effective in mitigating risk and reducing the potential for losses; (xvi) errors in estimates of the fair values of certain of our assets and liabilities, as well as the value of collateral supporting our loans, which may result in significant changes in valuation or recoveries; (xvii) cybersecurity threats and failures or security breaches with respect to the network, applications, vendors and computer systems on which we depend; (xviii) our ability to attract and retain key members of our senior management team; (xix) the effects of climate change, severe weather events, natural disasters such as earthquakes and wildfires, pandemics, epidemics and other public health crises, military activity (including the ongoing Iran war) or acts of terrorism, and other external events on our business; (xx) the impact of bank failures or other adverse developments at other banks on general depositor and investor sentiment regarding the stability and liquidity of banks; (xxi) the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; (xxii) our existing indebtedness, together with any future incurrence of additional indebtedness, could adversely affect our ability to raise additional capital and to meet our debt obligations; (xxiii) changes in market conditions or strategic balance sheet actions, which may result in realized losses on investment securities or other assets; (xxiv) the effects of any damage to our reputation resulting from developments related to any of the items identified above; and (xxv) other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services and the other risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and from time to time in other documents that we file with or furnish to the SEC. Included in this presentation are certain non-GAAP financial measures, such as tangible assets, tangible common equity ratio, tangible book value per common share, adjusted net earnings, adjusted earnings per share, return on average tangible common equity, adjusted return on average tangible common equity, pre-tax pre-provision income, adjusted noninterest expense, adjusted noninterest expense to average assets, efficiency ratio, adjusted efficiency ratio, core deposits, core loans, economic coverage ratio, and adjusted ACL ratio, designed to complement the financial information presented in accordance with U.S. GAAP because management believes such measures are useful to investors. These non-GAAP financial measures should be considered only as supplemental to, and not superior to, financial measures provided in accordance with GAAP. Please refer to the “Non-GAAP Financial Information” and “Non-GAAP Reconciliation” sections of the appendix of this presentation for additional detail including reconciliations of non-GAAP financial measures included in this presentation to the most directly comparable financial measures prepared in accordance with GAAP. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP financial measures, including ROTCE future state targets. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results. Second Quarter 2026 Earnings | 2

Core franchise momentum and strategic balance sheet repositioning drive higher recurring earnings power 2Q26 Financial Results Second Quarter 2026 Earnings | 3 ($1.61) Loss Per Share 56% Decrease in Special Mention Loans 9% Average Loan Growth Annualized 12% EOP Deposit Growth Annualized 3.30%+ NIM Post Loan Sale and Reinvestments(1) 31% Decrease in Classified Loans ❖Strategic balance sheet repositioning executed through three targeted actions: a $2.3B securities repositioning, an ~$825mm targeted loan sale and retirement of $385mm of subordinated debt ❖Increases recurring earnings and accelerates organic capital generation ❖Improves capital efficiency and balance sheet flexibility 1. Represents NIM upon targeted ~$825mm loan sale closing and completion of reinvestment of proceeds related to HTM securities repositioning.

Implemented three strategic actions to generate higher recurring earnings and improve capital efficiency Strategic Balance Sheet Repositioning Second Quarter 2026 Earnings | 4 Three complementary actions to allocate capital to higher-return opportunities Strategic Action • Immediate Benefit Long-Term Benefit Securities Repositioning Reallocated $2.3B of low-yielding securities into higher-yielding securities Targeted Loan Sale Initiated sale of ~$825mm of CRE loans Retired $385mm of subordinated debt ❖Higher yields ❖Shorter duration ❖Lower special mention and classified loans ❖Lower risk-weighted assets ❖Reduces interest rate reset risk ❖Higher recurring NII ❖Less interest rate risk ❖Higher capital efficiency ❖Higher recurring earnings ❖Enhanced balance sheet flexibility ❖Higher recurring earnings Expected NIM of 3.30%+ following loan sale closing and completion of securities reinvestment

Securities repositioning drives higher recurring earnings Strategic Actions – Securities Repositioning Second Quarter 2026 Earnings | 5 Total Securities Portfolio Summary 3.02% 4.34% 19.5% 9.5% 5 years 4 years 1Q26 2Q26 Change +132 bps -1 year -1000 bps Spot Yield Duration Risk Weighting (%) Key Takeaways ❖ Repositioned $2.3B of low-yielding securities; Initial reinvestment of $1.7B of proceeds into higher-yielding assets as of 6/30 ❖ Securities sold: 2.11% yield, 6.3-year duration ❖ Reinvested securities: 4.87% yield, 3.5-year duration ❖ Higher yields support higher recurring net interest income ❖ Shorter duration increases balance sheet flexibility ❖ Favorable risk weighting increases capital efficiency ❖ Expected TBV earn-back(1) of 1.4 years 1. Represents Day 1 TBV loss – reinvestment uplift defined as day 1 loss on tangible book value divided by tax affected interest income pickup from reinvestment.

Targeted loan sale reduces risk and strengthens our portfolio composition Strategic Actions – Loan Sale Second Quarter 2026 Earnings | 6 Earnings Capital CreditTransaction Overview ❖ Initiated sale process of ~$825mm of select CRE loans ❖Weighted average interest rate on loans being sold is 4.6% ❖We expect the loan sale transactions to close in the third quarter Strategic Benefits ❖Reduces special mention loans by 56% ❖Reduces classified loans by 31% ❖Reduces exposure to credits with higher migration and concentration risk ❖ Increased capital efficiency as proceeds will be deployed into market rate loans ❖CET1 will increase with loan sale transaction closing ❖Proceeds to be redeployed into higher risk-adjusted return opportunities ❖Attractive sale economics preserve value while improving future earnings profile

Our strategic balance sheet repositioning creates higher recurring earnings and profitability 2026 Updated Outlook Second Quarter 2026 Earnings | 7 NIM 3.30-3.40% By year-end ROAA 0.95-1.00% By year-end ROATCE 11.5-12.5% By year-end PTPP $125-$130mm 4Q26 (1) (1) 1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. 2.66% 3.08% 3.24% 1Q24 1Q25 1Q26 4Q26 Target 3.30- 3.40% $52mm $82mm $106mm 1Q24 1Q25 1Q26 4Q26 Target $125- $130mm 0.33% 0.65% 0.86% 1Q24 1Q25 1Q26 4Q26 Target 0.95- 1.00% 4.36% 7.56% 9.91% 1Q24 1Q25 1Q26 4Q26 Target 11.5- 12.5%

Second Quarter 2026 Earnings | 8 Rapid Capital Generation Compounded higher earnings growth provides path to CET1 above 10.0% in early 2027 10.18% 1Q26 Reported CET1 -0.54% HTM Repositioning -0.44% Provision expense +0.30- 0.40% 3Q26 Loan Sale Close and Other Estimated 3Q26 CET1 9.50- 9.60%+ ’26 Year-end Target CET1 9.80- 9.90%+ Early 2027 CET1 10.00%+ CET1 Bridge Key Takeaways ❖Strategic actions accelerate organic capital generation ❖CET1 post loan sale closing is expected to be ~9.50% ❖Expected CET1 >10.00% in early 2027 independent of any regulatory capital reform ❖Regulatory capital reform provides upside potential Higher recurring earnings compound capital growth, expected to result in CET1 >10.0% in early 2027

1. 2Q25 PTPP, Diluted EPS, ROAA and ROATCE are adjusted figures; see “Non-GAAP Reconciliation” slides in Appendix 2. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. 3. Production includes new loan production and disbursements. Core franchise performance remained strong while strategic repositioning enhanced recurring earnings power Quarterly Highlights Second Quarter 2026 Earnings | 9 Change 2Q26 1Q26 2Q25(1) QoQ D YoY D Reported Results PTPP(2) -$173.5mm $105.6mm $87.0mm NM NM Diluted EPS -$1.61 $0.39 $0.31 ($2.00) ($1.92) ROAA -2.79% 0.86% 0.69% NM NM ROATCE(2) -36.18% 9.91% 8.34% NM NM NIM 3.13% 3.24% 3.10% -11 bps 3 bps Capital TBVPS(2) $16.44 $17.77 $16.46 ($1.33) ($0.02) CET1 ratio 9.25% 10.18% 9.95% -93 bps -70 bps Credit ACL ratio 1.14% 1.12% 1.07% 2 bps 7 bps NIM NIM of 3.13%; NIM expected at 3.30%+ following loan sale closing and completion of securities reinvestment Credit Quality Special Mention and Classified loans down 56% and 31%, respectively ACL ratio increased 2 bps to 1.14% Loans Production(3) of $2.8B in 2Q26 Average loans up 9% annualized Deposits Total end-of-period deposits up 12% annualized Capital Expected CET1 of 9.50-9.60% in 3Q26 (includes impact of loan sale close)

Noteworthy items include the impact of significant transactions that were either unusual or elevated in magnitude during the quarter, largely related to our strategic repositioning Noteworthy Items Affecting 2Q26 Results Second Quarter 2026 Earnings | 10 Noteworthy Items Pre-Tax Impact ($mm) Net interest income Loan interest reversal ($5.0) Noninterest income HTM repositioning ($256.7) HFS fair-value adjustments ($12.5) Provision for credit losses Loan sales / charge-offs ($151.9) Noninterest expense Various expense items ($4.5) ❖Loan interest reversal impact related to loans classified as held-for-sale in 2Q ❖HTM repositioning impact is the loss on repositioning $2.3B of securities ❖ Impact to provision for credit losses is primarily comprised of fair value marks on loans transferred to held-for-sale ❖The noninterest expense items include a non- recurring charge for software obsolescence and temporarily elevated FDIC assessments ❖The impact of these noteworthy items increased the tax rate from 25% to 28% for the quarter

1. 2Q25 Diluted EPS, ROAA and ROATCE are adjusted figures; see “Non-GAAP Reconciliation” slides in Appendix 2. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. GAAP results reflect the 2Q26 strategic balance sheet repositioning actions, while underlying operating performance remained consistent with expectations Income Statement ($ in millions) 2Q26 1Q26 2Q25 Total interest income $414.6 $407.4 $420.5 Total interest expense 164.1 155.8 180.3 Net interest income 250.5 251.6 240.2 Loss on securities AFS (256.7) 0.0 0.0 Other noninterest income 22.7 35.3 32.6 Total noninterest (loss) income (234.1) 35.3 32.6 Total revenue 16.4 286.9 272.8 Operating expense 189.9 181.4 185.9 Total noninterest expense 189.9 181.4 185.9 PTPP (loss) income(2) (173.5) 105.6 87.0 Provision for credit losses 161.8 9.8 39.1 (Loss) earnings before income taxes (335.2) 95.8 47.9 Income tax (benefit) expense (93.9) 23.8 19.5 Net earnings (241.3) 72.0 28.4 Preferred stock dividends 9.9 9.9 9.9 Net earnings available to common and equivalent stockholders ($251.3) $62.0 $18.4 Key Income Statement Metrics 2Q26 1Q26 2Q25(1) Diluted EPS ($1.61) $0.39 $0.31 ROAA -2.79% 0.86% 0.69% ROATCE(2) -36.18% 9.91% 8.34% Net interest margin 3.13% 3.24% 3.10% NIE / average assets 2.20% 2.16% 2.21% Adj. NIE / average assets(2) 1.92% 1.88% 1.89% Efficiency ratio(2) 67.18% 61.00% 65.50% Adj. efficiency ratio(2) 64.01% 57.49% 61.77% Avg. yield on loans and leases 5.63% 5.74% 5.93% Avg. yield on interest-earning assets 5.18% 5.25% 5.42% Avg. total cost of funds 2.14% 2.10% 2.42% Avg. total cost of deposits 1.80% 1.78% 2.13% Second Quarter 2026 Earnings | 11

Strategic repositioning actions result in a stronger balance sheet, positioning the company for even stronger financial performance 1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. 2. Total funding defined as total deposits plus borrowings. Balance Sheet Second Quarter 2026 Earnings | 12 ($ in millions) 2Q26 1Q26 2Q25 Cash and cash equivalents $2,818 $2,217 $2,354 Investment securities 4,665 5,140 4,725 Loans held for sale 915 259 466 Loans and leases HFI 24,211 24,780 24,246 Allowance for loan and lease losses (243) (242) (229) Goodwill and intangibles 307 314 333 Deferred tax asset, net 704 653 692 Other assets 1,653 1,602 1,665 Total assets $35,031 $34,724 $34,250 Noninterest-bearing deposits $7,758 $7,798 $7,441 Interest-bearing deposits 20,363 19,525 20,087 Total deposits 28,121 27,322 27,528 Borrowings 2,460 2,551 1,917 Subordinated debt 574 954 949 Other liabilities 466 343 429 Total liabilities excluding deposits 3,500 3,849 3,295 Total stockholders’ equity 3,410 3,553 3,427 Total liabilities and stockholders’ equity $35,031 $34,724 $34,250 Key Balance Sheet Metrics 2Q26 1Q26 2Q25 Average interest-earning assets $32,118 $31,471 $31,097 CET1 ratio 9.25% 10.18% 9.95% Tangible common equity ratio(1) 7.50% 7.97% 7.65% Tangible book value per share(1) $16.44 $17.77 $16.46 Cash / assets 8.0% 6.4% 6.9% Cash + securities / assets 21.4% 21.2% 20.7% Loans / deposits 89.3% 91.6% 89.8% Noninterest-bearing deposits / total deposits 27.6% 28.5% 27.0% Deposits / total funding(2) 92.0% 91.5% 93.5% Total brokered deposits / total funding(2) 9.2% 9.3% 9.8% ACL ratio 1.14% 1.12% 1.07%

Net Interest Income (NII) ($mm) and Net Interest Margin (NIM) (%) Impact to NII ($mm) from cumulative change in yields, rates and mix 1Q26 +$4.9 Loans +$1.7 Cash / Other EA +$0.5 Securities Deposits -$4.2 Borrowings 2Q26 $251.6 -$4.0 $250.5 $240.2 $253.4 $251.4 $251.6 $250.5 3.20% 4Q25 3.24% 1Q26 3.13% 2Q26 3Q26 Target 4Q26 Target2Q25 3Q25 3.10% 3.22% 3.30- 3.35% 3.30- 3.40% The benefits of the strategic repositioning should meaningfully increase NIM Net Interest Income and Net Interest Margin ❖ NIM expected at 3.30%+ following loan sale closing and completion of securities reinvestment ❖ 2Q26 NIM of 3.13% was negatively impacted by nonaccrual interest of ~$4.6mm HIGHLIGHTS Second Quarter 2026 Earnings | 13

Underlying noninterest income remained stable despite strategic repositioning charges ($ in millions) 2Q26 1Q26 2Q25 Commissions and Fees $9.0 $11.0 $9.6 Leased Equipment Income 7.8 8.5 10.2 Service Charges on Deposits 4.8 5.0 4.5 Dividends & Gains (Losses) on Equity Investments 3.3 2.0 (0.1) Loss on securities AFS (256.7) 0.0 0.0 Other Income (1) (2.3) 8.8 8.4 Total Noninterest Income ($234.1) $35.3 $32.6 Noninterest Income HIGHLIGHTS ❖ Noninterest income includes $256.7mm loss on securities AFS, and a $12.5mm loss for market valuation adjustment on previously transferred HFS loans ❖ Noninterest income, excluding loss on securities AFS and loss on loans HFS, of $35.2mm remained stable QoQ, consistent with normal run-rate of $11mm-$12mm per month ❖ Commissions and fees were lower QoQ, as 1Q26 FX fees were elevated due to higher trading volume driven by market volatility 1. Other income includes revenue from BOLI, warrants, credit-linked note related income, loss on loan sales, and other miscellaneous income. Second Quarter 2026 Earnings | 14

Adjusted Noninterest Expense(1) / Average Assets Ratio 1. Excludes customer related expense. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. 2. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. Expense discipline remained unchanged while executing significant strategic actions during the quarter 65.50% 62.05% 59.35% 61.00% 67.18% 61.77% 58.24% 55.58% 57.49% 64.01% 2Q25 3Q25 4Q25 1Q26 2Q26 Efficiency Ratio(2) Adjusted Efficiency Ratio(1) Adjusted Efficiency Ratio(1) 2.21% 1.89% 2Q25 2.18% 1.87% 3Q25 2.12% 1.83% 4Q25 2.16% 1.88% 1Q26 2.20% 1.92% 2Q26 Noninterest Expense / Average Assets Ratio Adjusted Noninterest Expense / Average Assets Ratio Noninterest Expense (1) Second Quarter 2026 Earnings | 15 ❖ Compensation expense declined QoQ driven by elevated 1Q26 seasonality ❖ Insurance and assessments increased QoQ primarily due to higher FDIC assessment expense ❖ Other expense increased QoQ primarily due to $4.8mm software obsolescence expense HIGHLIGHTS ($ in millions) 2Q26 1Q26 2Q25 Compensation $85.1 $91.1 $88.4 Occupancy 14.7 14.9 15.5 IT and data processing 13.8 14.3 13.1 Professional services 5.6 4.2 6.4 Insurance and assessments 14.5 6.8 9.4 Intangible asset amortization 6.3 6.3 7.2 Leased equipment depreciation 5.2 5.3 6.7 Loan expense 5.2 4.3 4.1 Other expense 15.4 10.4 8.7 Customer related expense 24.1 23.7 26.6 Total noninterest expense $189.9 $181.4 $185.9

Deposit franchise continues to generate stable funding for future growth 4.33% 4.30% 3.90% 3.64% 3.63% 2.13% 2.08% 1.89% 1.78% 1.80% Average Fed Funds Rate Average Total Cost of Deposits 27% 28% 28% 29% 28% 29% 29% 30% 30% 31% 27% 26% 25% 24% 25% 9% 9% 9% 9% 9% 8% 2Q25 8% 3Q25 8% 4Q25 8% 1Q26 7% 2Q26 Non-Brokered CDs Brokered CDs Money Market & Savings Interest-bearing Checking Noninterest-bearing Checking 1. Brokered non-maturity deposits consist of brokered sweep accounts included in Checking and MMDA. 2. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. 3. Represents all NIB deposit balances with ECR including through cash rebates and/or fee offsets. 4. Costs do not include ECR expenses related to HOA deposits. 5. Includes brokered CDs. Deposits By Line of Business ($mm) 2Q26 Balance 2Q26 Cost 1Q26 Balance 1Q26 Cost Community Banking $13,860 1.51% $13,823 1.51% Venture 7,086 2.18% 6,272 2.22% Specialty Banking (includes HOA)(4) 3,954 0.68% 3,970 0.70% Corporate and Other Institutional(5) 3,221 3.61% 3,258 3.56% Total Deposits $28,121 1.80% $27,322 1.78% ❖ Deposits increased 12% annualized, reflecting continued franchise momentum and strong growth late in the quarter ❖ Total cost of deposits increased 2 bps QoQ as average higher-cost deposit balances increased to support loan growth Deposits ($ in millions) 2Q26 1Q26 2Q25 Noninterest-bearing Checking $7,758 $7,798 $7,441 Checking 8,739 8,178 7,974 MMDA 5,137 4,643 5,375 Savings 1,835 1,991 1,933 CDs 4,653 4,712 4,805 Total Deposits $28,121 $27,322 $27,528 Less: Brokered CDs 2,591 2,562 2,312 Less: Brokered Non-maturity Deposits (1) 227 226 565 Core Deposits (2) $25,303 $24,534 $24,652 Average Noninterest-bearing Checking 7,866 7,890 7,584 Average NIB Checking / Average Deposits 28.5% 28.9% 27.8% NIB Deposits with ECR (3) 4,979 5,041 4,566 HIGHLIGHTS Second Quarter 2026 Earnings | 16

650 1,288 1,889 2,390 2,929 3,569 4,031 4,845 5,393 5,921 $107.3 1Q24 $257.8 2Q24 $382.6 3Q24 $439.2 4Q24 $537.8 1Q25 $643.2 2Q25 $746.8 3Q25 $965.2 4Q25 $1,113.5 1Q26 $1,212.6 2Q26 Cumulative New NIB Business Deposits Accounts Cumulative New NIB Business Deposits ($ millions) New NIB business deposit(1) relationship growth continues to build franchise value 1. Includes new NIB deposits from relationships opened over the last two years from the quarter referenced. NIB Deposit Growth Second Quarter 2026 Earnings | 17

$990 $826 $1,040 $1,147 $878 $911 $837 $1,443 $776 $1,610 $1,816 $2,186 $1,789 $2,280 $2,385 7.29% 7.08% 6.39%5.93% 6.05% 5.63% 6.83% 5.83% 6.65% 5.74% Rate on Production Total Loan Yield ($ in millions) 1. Rate on production is rate on new loans funded in respective quarter. 2. Includes charge-offs, transfers to foreclosed assets, loan sales, and transfers to HFS. Strong loan production and disbursements of $2.8B continues to remix the portfolio $997 $893 $1,696 $808 $989 Payoffs PaydownsUnfunded New Commitments 2Q25 3Q25 4Q25 1Q26 2Q26 $2,459 $2,068 $2,730 $2,119 $2,793 Loan Production and Disbursements Loan Activity (1) ❖ Broad-based 2Q26 production and disbursements of $2.8B continued to remix the portfolio toward higher risk-adjusted return assets, with new production pricing above the total loan yield ❖ Elevated payoffs and paydowns were driven by Fund Finance and Warehouse, partially offsetting strong production activity ❖ 2Q26 total loan yield declined 11 bps QoQ primarily due to impact of nonaccrual interest HIGHLIGHTS Second Quarter 2026 Earnings | 18 ($ in millions) Loans Beginning Balance Total Production/ Disbursements Total Payoffs/ Paydowns Net Change Other Change(2) Loans Ending Balance Total Loan Yield Rate on Production C&I Utilization Rate 2Q26 $24,780 $2,793 $2,385 407 (977) 24,211 5.63% 6.39% 67.9% 1Q26 25,033 2,119 2,280 (162) (91) 24,780 5.74% 6.65% 67.3% 4Q25 24,111 2,730 1,789 941 (19) 25,033 5.83% 6.83% 66.6% 3Q25 24,246 2,068 2,186 (118) (17) 24,111 6.05% 7.08% 66.1% 2Q25 24,127 2,459 1,816 643 (524) 24,246 5.93% 7.29% 64.8%

Loan remix continues to strengthen portfolio yields Note: Wtd. Avg. Rate excludes accretion of net deferred loan fees and net loan purchase discounts. 1. Venture lending includes technology and life science lending. Loan Activity by Segment ❖ Broad-based 2Q26 production continued to remix the portfolio toward higher-return categories, with strength in Fund Finance, Lender Finance and SFR ❖ Disciplined runoff of lower-return assets supports stronger portfolio economics, shifting balances away from lower-yielding legacy CRE and toward more attractive risk-adjusted categories ❖ Loan yields remained stable despite a declining rate environment, reflecting the benefit of remixing and disciplined pricing on new production ❖ Portfolio remix is expected to continue supporting margin over time as additional balances mature and reprice HIGHLIGHTS 2Q26 1Q26 2Q25 Loan Segment ($ in millions) Balances Production + Disbursements Payoffs + Paydowns Wtd. Avg Rate Balances Production + Disbursements Payoffs + Paydowns Wtd. Avg Rate Balances Production + Disbursements Payoffs + Paydowns Wtd. Avg Rate Multifamily $5,445 $139 ($91) 4.2% $5,955 $34 ($189) 4.2% $6,281 $111 ($82) 4.2% Other CRE 3,405 167 (138) 5.3% 3,444 57 (320) 5.3% 3,746 180 (235) 5.3% Real Estate Construction 1,475 190 (275) 6.2% 1,892 165 (131) 5.9% 2,302 173 (274) 6.0% Residential / Consumer 3,878 500 (148) 4.8% 3,529 234 (106) 4.6% 3,180 504 (102) 4.2% C&I 1,874 264 (267) 6.3% 1,886 406 (262) 6.3% 1,773 209 (286) 6.7% Warehouse 1,681 271 (395) 6.6% 1,805 264 (559) 6.7% 1,610 208 (198) 7.4% Venture Lending 936 110 (124) 7.0% 965 129 (67) 7.0% 808 119 (87) 7.8% Fund Finance 1,504 733 (586) 6.4% 1,358 470 (432) 6.5% 1,194 501 (263) 7.4% SBA 716 27 (40) 7.1% 730 18 (30) 6.9% 700 13 (27) 6.7% Lender Finance 2,017 351 (211) 6.7% 1,865 288 (60) 6.9% 1,173 375 (132) 7.8% Equipment Lending 661 37 (42) 6.0% 666 52 (60) 6.0% 645 60 (42) 6.0% Core Loan Portfolio $23,592 $2,789 ($2,317) 5.5% $24,095 $2,116 ($2,216) 5.5% $23,412 $2,453 ($1,730) 5.6% Premium Finance $356 $3 ($55) 3.4% $408 $2 ($41) 3.3% $473 $4 ($48) 3.4% Student 238 0 (11) 4.3% 250 0 (11) 4.3% 286 $1 ($13) 4.3% Civic 24 0 (3) 7.3% 27 0 (12) 7.2% 75 $0 ($25) 7.0% Discontinued Areas $618 $3 ($68) 3.9% $685 $2 ($64) 3.8% $834 $6 ($86) 4.0% Total Loans and Leases HFI $24,211 $2,793 ($2,385) 5.5% $24,780 $2,119 ($2,280) 5.4% $24,246 $2,459 ($1,816) 5.5% (1) Second Quarter 2026 Earnings | 19

Loan growth reflects continued franchise momentum Note: Wtd. Avg. Rate excludes accretion of net deferred loan fees and net loan purchase discounts. 1. Venture lending includes technology and life science lending. Loan Portfolio 2Q26 1Q26 2Q26 1Q26 Variance % of Total Loans 2Q26 Wtd. Avg. Rate 2Q26 NPL % 2Q26 DQ % 2Q26 ACL Coverage Ratio ACL Coverage Ratio Multifamily $5,445 $5,955 ($510) 22.5% 4.2% 0.21% 0.21% $50 0.92% $35 0.59% Other CRE 3,405 3,444 (39) 14.1% 5.3% 1.88% 0.57% 87 2.55% 88 2.55% Real Estate Construction 1,475 1,892 (417) 6.1% 6.2% 0.16% 0.16% 17 1.15% 19 0.99% Residential / Consumer 3,878 3,529 349 16.0% 4.8% 1.14% 2.50% 9 0.23% 8 0.22% C&I 1,874 1,886 (12) 7.7% 6.3% 0.68% 0.85% 26 1.37% 27 1.41% Warehouse 1,681 1,805 (124) 6.9% 6.6% 0.00% 0.00% 4 0.24% 3 0.16% Venture Lending (1) 936 965 (29) 3.9% 7.0% 1.54% 0.00% 60 6.39% 74 7.71% Fund Finance 1,504 1,358 147 6.2% 6.4% 0.00% 0.00% 0 0.03% 0 0.03% SBA 716 730 (14) 3.0% 7.1% 6.04% 1.20% 5 0.75% 5 0.68% Lender Finance 2,017 1,865 152 8.3% 6.7% 0.00% 0.00% 6 0.32% 6 0.34% Equipment Lending 661 666 (5) 2.7% 6.0% 0.00% 0.89% 1 0.20% 1 0.21% Core Loan Portfolio $23,592 $24,095 ($503) 97.4% 5.5% 0.82% 0.68% $266 1.13% $266 1.10%0 0 0% 0.00% 0.00% Premium Finance $356 $408 ($52) 1.5% 3.4% 0.00% 0.00% $0 0.07% $0 0.07% Student 238 250 (12) 1.0% 4.3% 0.47% 0.96% 10 4.07% 10 4.02% Civic 24 27 (3) 0.1% 7.3% 40.47% 43.73% 0 0.05% 0 0.05% Discontinued Areas $618 $685 ($67) 2.6% 3.9% 1.76% 2.08% $10 1.61% $10 1.51% Total Loans and Leases HFI $24,211 $24,780 ($570) 100.0% 5.5% 0.84% 0.72% $276 1.14% $277 1.12% Loans Held for Sale (HFS) 915 259 656 Total Loans and Leases $25,126 $25,039 $87 Loan Segment ($ in millions) Second Quarter 2026 Earnings | 20 ❖ Average loan balances grew 9% annualized, driven by higher-yielding C&I categories

Approximately half of the multifamily portfolio is expected to reprice or mature over the next 2.5 years, providing meaningful embedded earnings upside Note: Long Term (“LT”) Variable: Loans that reset or mature beyond one year. Weighted Average Coupon (“WAC”): Weighted average of the contractual interest rate. 1. Balances include maturities only and do not include scheduled amortization and prepayment expectations. Loan Composition ❖ Total fixed rate and hybrid loans that are maturing/repricing by year-end have a WAC of 5.0%, significantly below 2Q26 rate on new production of 6.39% ❖ ~$0.9B of hybrid multifamily loans maturing/repricing within 1 year have a WAC of 4.5%, offering strong repricing upside ❖ Short-term variable loans represent 39% of total loans HIGHLIGHTS Loan Maturity and Repricing Summary Second Quarter 2026 Earnings | 21 41% 39% 20% 2Q26 Fixed ST Variable Hybrid+LT Variable WAC: 4.8% WAC: 6.6% WAC: 4.8% $0.3 $0.1 $0.3 $1.4 $1.4 $0.7 $0.8 $0.4 4.0% 5.5% 3.7% 3.9% 3.9% 4.2% 5.1% 4.0% Multifamily Loans – Maturities / Repricing Hybrid & Variable Rate: Fixed Rate: Total Fixed Rate and Hybrid Loans – Maturities / Repricing Total fixed rate and hybrid loans: $13.3B Total multifamily loans: $5.4B 4.7% 4.4% 4.7%4.7%WAC: <= 1 Year 1-2 Years 2-3 Years > 3 Years $1.7B $0.8B $1.1B $1.8B Fixed Rate Maturity(1) Hybrid & Variable Rate Reset $1.3 $0.7 $1.1 $0.4 $1.5 $0.6 $1.0 $6.7 <= 1 Year 1-2 Years 2-3 Years > 3 Years $2.8B $1.3B $2.1B $7.1B Fixed Rate(1) Hybrid

Asset quality metrics strengthened through proactive portfolio management ❖ Asset quality metrics strengthened QoQ, with classified, special mention and delinquent loans declining 31%, 56% and 50%, respectively ❖ Sale (pending) of ~$825mm of CRE loans reduces exposure concentration, enhances capital efficiency and lowers potential future credit-related earnings volatility ❖ Healthy market demand and attractive pricing enabled us to be opportunistic with sale process ❖ We expect the loan sale transactions to close in the third quarter Special Mention Loans ($mm) Delinquent Loans ($mm) Classified Loans ($mm) $311.3 $320.1 $275.3 $281.9 $175.1 $465.7 $15.8 2Q25 $255.3 $478.9 $29.3 3Q25 $257.4 $520.1 $22.8 4Q25 $245.7 $583.1 $14.0 1Q26 $184.5 $387.4 $10.9 2Q26 $656.6 $763.6 $800.3 $842.8 $582.8 2.71% 3.17% 3.20% 3.40% 2.41% Classified Loans/Leases to Loans/Leases HFI CRE Loans (excluding MF and Construction) Other Core Loans(1) Discontinued Loans 0.62% 0.67% 0.80% 1.39% 0.72% Delinquent Loans to Loans/Leases HFI 1. Reference Page 19 for Core Loan Portfolio. Other Core Loans comprises Core Loan Portfolio less CRE loans (excluding MF and Construction). HIGHLIGHTS Nonperforming Loans ($mm) $55.7 $96.4 $15.4 2Q25 $56.2 $89.4 $28.9 3Q25 $53.1 $83.2 $22.8 4Q25 $48.4 $123.4 $14.0 1Q26 $64.2 $128.6 $10.9 2Q26 $167.5 $174.5 $159.2 $185.7 $203.7 CRE Loans (excluding MF and Construction) Other Core Loans(1) Discontinued Loans 0.69% 0.72% 0.64% 0.75% 0.84% $201.0 $454.5 $6.1 2Q25 $108.3 $392.0 $5.7 3Q25 $125.0 $328.5 $5.2 4Q25 $117.5 $566.1 $5.0 1Q26 $151.2 $146.4 $2.9 2Q26 $661.6 $506.0 $458.7 $688.7 $300.5 CRE Loans (excluding MF and Construction) Other Core Loans(1) Discontinued Loans 2.73% 2.10% 1.83% 2.78% 1.24% Special Mention Loans/Leases to Loans/Leases HFI NPLs to Loans/Leases HFI $42.7 $90.5 $16.2 2Q25 $46.3 $77.7 $37.4 3Q25 $40.9 $138.2 $21.8 4Q25 $35.4 $295.1 $14.6 1Q26 $19.5 $141.3 $12.9 2Q26 $149.5 $161.4 $201.0 $345.1 $173.7 CRE Loans (excluding MF and Construction) Other Core Loans(1) Discontinued Loans Asset Quality Ratios and Trends Second Quarter 2026 Earnings | 22 Targeted actions reduced potential migration and larger borrower concentration exposure

❖ ACL remained stable QoQ at $276.2mm, with ACL ratio increasing 2bps QoQ to 1.14% ❖ Net charge-offs were primarily driven by loans transferred to HFS ❖ Economic coverage ratio(1) increased 3bps to 1.63% ($ in millions) 2Q26 Net Charge-offs (Recoveries) detail ($160.3) ACL 1Q26 Net Charge-offs $160.0 Provision for Loans HFI ACL 2Q26 $276.5 ACL coverage ratio increased to 1.14% HIGHLIGHTS 1. Economic coverage ratio adjusts our ACL coverage ratio to include the loss coverage from credit-linked notes and unearned credit marks from purchase accounting. Denotes a non-GAAP financial measure, see “Non-GAAP Reconciliation” slides in Appendix. 1.63% Economic coverage ratio(1) $276.2 $258.6 1.07% 1.61% 2Q25 $270.7 1.12% 1.65% 3Q25 $280.5 1.12% 1.62% 4Q25 $276.5 1.12% 1.60% 1Q26 $276.2 1.14% 1.63% 2Q26 ACL ACL / Total Loans HFI Economic Coverage Ratio(1) ACL / Total Loans ($mm) 2Q26 ACL walk 1.12% 1.14% Net Charge-offs (Recoveries) ($ in millions) Charge-offs Recoveries Net Charge-offs (Recoveries) % of Total Loans (annualized) Civic Loans $0.6 ($0.0) $0.6 0.01% Commercial Loans 15.1 (0.9) 14.2 0.23% Real Estate Mortgage 77.2 (0.1) 77.1 1.22% Real Estate Construction 67.5 - 67.5 1.07% Consumer Loans: Student Loans - - - 0.00% Consumer Loans: excluding Student Loans 1.1 (0.3) 0.8 0.01% Total $161.6 ($1.3) $160.3 2.54% Allowance for Credit Losses - Loans Second Quarter 2026 Earnings | 23

Adjusted ACL ratio(1) is significantly higher when adjusting for lower loss loan categories 2Q26 Adjusted ACL Ratio(1) Composition of Lower Loss Loan Categories ❖ Recent loan growth is in segments with relatively low expected credit losses including lender finance, SFR and fund finance ❖ Adjusted ACL Ratio(1) at 1.70%; Economic Coverage Ratio(1) at 1.63%, which includes $105.0mm of loss coverage from credit-linked notes on SFR ❖ Lower loss loan categories as a percent of total loans increased to 37% at 2Q26 from 34% in 1Q26 strengthening the credit profile of the bank 1.14% 1.32% 1.42% 1.70% ACL Ratio Adj. ACL Ratio Excluding Single Family Residential Loans Adj. ACL Ratio Excluding SFR Mortgage & Warehouse Loans Adj. ACL Ratio Excluding SFR Mort., Warehouse, Fund Finance and Lender Finance Loans HIGHLIGHTS 1. Adjusted ACL Ratio is adjusted for lower loss loan categories. Economic Coverage Ratio is adjusted for the impact of credit-linked notes and unearned credit mark from purchase accounting. Denotes a non-GAAP financial measure, see "Non-GAAP Reconciliation” slides in Appendix. Adjusted Allowance for Credit Losses Ratios Lower Loss Loan Categories ($ in millions) 2Q26 1Q26 2Q25 Residential $3,770 $3,431 $3,083 Warehouse 1,681 1,805 1,610 Fund Finance 1,504 1,358 1,194 Lender Finance 2,017 1,865 1,173 Total Lower Loss Loans $8,972 $8,459 $7,061 Total Loans and Leases HFI $24,211 $24,780 $24,246 Lower Loss Loans / Total Loans and Leases HFI 37.1% 34.1% 29.1% Second Quarter 2026 Earnings | 24

Average Total Securities Portfolio Balance & Total Yield(3) 1. Excludes FRB and FHLB stock. 2. HTM securities reflected at amortized cost; excludes $0.7mm loss reserve. 3. Total securities yield of 3.44% and average securities portfolio balance includes FRB and FHLB stock. Total securities yield is calculated using average fair values for the quarter. Strategic securities repositioning will drive meaningful higher recurring earnings ❖ The securities portfolio is now positioned to contribute meaningfully more recurring income over time ❖ Limited 2Q26 yield impact from prior quarter due to timing of securities sale / reinvestment ❖ Unrealized pre-tax loss on AFS securities of $209mm, up $8mm QoQ driven primarily by an increase in interest rates. ❖ Of the AFS securities portfolio, 89% is fixed rate, 7% is floating rate, and 4% is hybrid rate ❖ 2Q26 new investment yield of 5.1% ❖ 8% of AFS securities portfolio will contractually pay down and reprice within 1 year and 24% within three years ❖ 89% of total securities are AAA rated and 6% are AA rated HIGHLIGHTS $4.7 3.20% 2Q25 $4.8 3.18% 3Q25 $4.9 3.21% 4Q25 $5.0 3.38% 1Q26 $4.9 3.44% 2Q26 Average Balance ($ in billions) Yield Investment Securities Portfolio Yield Duration (yrs) Unrealized Unrealized 2Q26 1Q26 Variance 2Q26 2Q26 Loss 2Q26 Loss 1Q26 AFS - Gov't & Agency $3,764 $1,970 $1,794 4.19% 4.3 ($168) ($160) AFS - CLO's 201 200 0 5.38% 0.0 0 0 AFS - Corporate Bonds 238 233 5 6.40% 1.1 (14) (14) AFS - Non-Agency Securitizations 282 254 28 3.98% 4.6 (28) (27) AFS $4,484 $2,657 $1,827 4.35% 4.0 ($209) ($201) HTM - Gov't & Agency 643 (643) (31) HTM - Corporate Bonds 71 (71) (7) HTM - Municipal Bonds 1,239 (1,239) (35) HTM - Non-Agency Securitizations 362 (362) (13) HTM(2) - $2,314 ($2,314) ($87) Total AFS + HTM Securities $4,484 $4,971 ($487) 3.44% 4.0 ($209) ($287) Security Type (1) ($ in millions) Second Quarter 2026 Earnings | 25 (3)

9.95% 10.18% 9.25% 2Q25 1Q26 2Q26 7.65% 7.97% 7.50% 2Q25 1Q26 2Q26 CET1 Ratio TCE Ratio(1) Note: 2Q26 regulatory capital ratios are preliminary. 1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. Capital remains resilient while strategic actions position the company for faster organic capital generation Capital 2Q26 1Q26 2Q25 Regulatory Well- Capitalized Excess of Well- Capitalized Consolidated Company Total Risk-Based Ratio 14.31% 16.55% 16.37% 10.00% 4.31% Tier 1 Risk-Based Capital 11.67% 12.54% 12.34% 8.00% 3.67% CET1 Ratio 9.25% 10.18% 9.95% 6.50% 2.75% Leverage Ratio 8.89% 9.97% 9.74% 5.00% 3.89% TCE Ratio (1) 7.50% 7.97% 7.65% NA NA TBVPS (1) $16.44 $17.77 $16.46 NA NA Second Quarter 2026 Earnings | 26

2Q26 IRR position – NII impact ($B) ❖ Gap between short-term (“ST”) liabilities and assets of $5.8B in 2Q26 compared to $5.6B at 1Q26 ❖ HTM repositioning was largely NII-neutral, as greater asset sensitivity from shorter duration securities was offset by a higher NII base from significantly higher reinvestment yields ❖ When adjusted for deposit repricing betas, net interest income sensitivity is relatively neutral ❖ We have the potential to outperform our modeled deposit betas in both up and down rate scenarios dependent on economic conditions ❖ The impact of ECR costs on rate-sensitive deposits of $3.8B shifts this neutral interest rate sensitivity to liability sensitive for total earnings HIGHLIGHTS $15.7 $21.5 ST Assets ST Liabilities Asset / liability gap of ($5.8B) is largely neutral to NII when adjusting for deposits repricing betas 2Q26 IRR position – Total Earnings ($B) $15.7 $18.1 ST Assets ST Liabilities (Beta & ECR Adjusted) ECR costs on deposits when adjusted for repricing betas shifts IRR position to liability sensitive with a repricing gap at ($2.4B) Cash / ST Investments / ST Loans Cash / ST Investments / ST Loans Variable Deposits / ST CDs / ST Borrowings Variable Deposits / ST CDs / ST Borrowings Note: Short Term (“ST”): Assets and liabilities expected to mature, reprice, or settle within one year. Rate sensitive defined as assets or liabilities that are repricing or maturing within one year. Second Quarter 2026 Earnings | 27 Balance sheet position provides flexibility across multiple interest-rate environments Interest Rate Sensitivity Ongoing balance sheet remixing will support further net interest income expansion

Supplemental Information

Note: Common shares outstanding as of June 30, 2026 are 158,432,520. 1. Represents VWAP of shares repurchased. 2. Common shares outstanding are as of March 17, 2025 for Full Year 2025, December 31, 2025 for 1Q26, and March 31, 2026 for 2Q26. Total is based on share count from commencement of share repurchase program as of March 17, 2025. Delivering shareholder value through share repurchases Share repurchases Second Quarter 2026 Earnings | 29 Share Repurchase Activity FY25 1Q26 2Q26 Total Repurchase Amount $185,498,388 $31,942,722 - $217,441,110 Price Per Share(1) $13.59 $18.68 - $14.16 Number of Shares Repurchased 13,648,429 1,709,935 - 15,358,364 Common Shares Outstanding(2) 169,083,588 155,533,403 154,262,045 169,083,588 % of Shares Repurchased 8.1% 1.1% 0.0% 9.1%

Diversified NDFI exposure with history of minimal losses NDFI Lending Exposure Note: Asset quality metrics are based on loans and leases HFI. Mortgage Warehouse includes warehouse lines to mortgage originators, Fund Finance includes capital call facilities, Consumer Credit includes auto and consumer lending, Other Mortgage Credit includes mortgage rediscount lending and Business Credit includes small business lending. 1. 10-year+ historical NCO rate represents average quarterly net loss rate annualized since 1Q15. 2. Includes loans within Commercial & Community Banking segment. HIGHLIGHTS ❖ Long history of strong asset quality performance with almost no delinquencies, NPLs or classified loans ❖ Only three charge-offs over the last 10 years including one that resulted in nearly full recovery ❖ Careful client screening focuses on established operators with extensive, stable performance history ❖ In-house audit team conducts anti-fraud measures including monthly testing of underlying collateral, cash collections and payments history and periodic mortgage title checks ❖ Majority of loans are handled by the bank alone. Partner banks limited to banks with fraud, audit and control frameworks aligned with our rigorous standards NDFI Lending Exposure ❖ Business Credit, Consumer Credit, and Other Mortgage Credit are primarily within our Lender Finance business Loan Type ($ in millions) 2Q26 Loan Balance 2Q26 % of Total Loans HFI 2Q26 NPL % of Total Loans HFI 2Q26 DQ % of Total Loans HFI 2Q26 Classified % of Total Loans HFI 10-Year+ Historical NCO Rate(1) Mortgage Warehouse $1,681 6.9% 0.00% 0.00% 0.00% 0.052% Fund Finance(2) 1,536 6.3% 0.00% 0.00% 0.00% 0.000% Consumer Credit 961 4.0% 0.00% 0.00% 0.00% 0.000% Other Mortgage Credit 490 2.0% 0.00% 0.00% 0.00% 0.022% Business Credit 510 2.1% 0.00% 0.00% 0.00% 0.000% Other NDFI 41 0.2% 0.00% 0.00% 0.00% 0.000% Total NDFI Portfolio HFI $5,219 21.6% 0.00% 0.00% 0.00% 0.018% Total Core Loan Portfolio HFI $23,592 97.4% 0.82% 0.68% 2.42% Total Loans and Leases HFI $24,211 100.0% 0.84% 0.72% 2.41% Second Quarter 2026 Earnings | 30

❖ 76% of total CRE portfolio located in California ❖ Total CRE has a low weighted average LTV of 58% ❖ Other Property Types includes mobile homes, gas stations, special use, schools, places of worship and restaurants 8.0% 7.7% 5.4% 2.9% 2.3% 2.9% 1.7% 2.1% Office Industrial Retail Hotel Self Storage Health Facility Mixed Use Other Other CRE as % of Total CRE Total CRE is well diversified across multiple industries • Total CRE comprises 43% of total loans HFI and Other CRE comprises 14% of total loans HFI • 82% of office collateral located in California, 12% in Colorado and 6% in other states • Multifamily has a low average LTV and a strong DSCR coverage ratio of 1.3x Note: CRE excludes government guaranteed CRE collateralized SBA loans. 1. Represents most recent appraisal or weighted-average LTV at origination. CRE portfolio has low weighted-average LTV and strong debt-service coverage ratio (DSCR) HIGHLIGHTS CRE Portfolio Property Type ($ in millions) Count 2Q26 1Q26 2Q26 % of Total CRE 2Q26 % of Total Loans HFI Avg Loan Size WA LTV(1) DSCR NPL % NPL $ Multifamily 1,196 $5,445 $5,955 53% 22% $4.6 58% 1.34 0.21% $11.6 Real Estate Construction 171 1,475 1,892 14% 6% 8.6 66% - 0.16% 2.4 Other CRE 920 3,405 3,444 33% 14% 3.7 53% 2.02 1.88% 64.2 Office 182 829 855 8% 3% 4.6 61% 2.35 7.24% 60.1 Industrial / Warehouse 304 796 760 8% 3% 2.6 48% 2.03 0.00% 0.0 Retail 172 555 580 5% 2% 3.2 52% 1.56 0.07% 0.4 Hotel 27 294 333 3% 1% 10.9 51% 2.26 0.84% 2.5 Self Storage 39 242 235 2% 1% 6.2 56% 1.44 0.00% 0.0 Mixed Use 34 222 208 2% 1% 6.5 51% 1.50 0.00% 0.0 Health Facility 25 171 181 2% 1% 6.8 57% 2.46 0.67% 1.1 Other Property Types 137 295 293 3% 1% 2.2 47% 2.36 0.04% 0.1 Total CRE 2,287 $10,325 $11,292 100% 43% $4.5 58% 1.60 0.76% $78.2 Second Quarter 2026 Earnings | 31

Noninterest Expense Detail ($mm) $26.6 $9.4 $61.5 $88.4 2Q25 $26.2 $9.0 $61.6 $88.9 3Q25 $24.9 $7.1 $62.8 $85.9 4Q25 $23.7 $6.8 $59.8 $91.1 1Q26 $24.1 $14.5 $66.1 $85.1 2Q26 $185.9 $185.7 $180.6 $181.4 $189.9 Compensation expense Other operating expenses Insurance and assessments Customer related expense Customer Related Expense ($mm) $21.9 $4.7 2Q25 $21.7 $4.6 3Q25 $20.7 $4.1 4Q25 $19.8 $3.9 1Q26 2Q26 $26.6 $26.2 $24.9 $23.7 $24.1 $20.4 $3.7 ECR Expense Other(1) 1. Other customer related expense includes deposit referral fees, armored car services, check printing expenses, and other miscellaneous expenses. ECR expenses remained relatively flat 2Q25 3Q25 4Q25 1Q26 2Q26 $3,728 $3,708 $3,697 $3,891 $3,951 Average HOA Deposits ($mm) Customer Related Expense HIGHLIGHTS ❖ Substantially all HOA deposits have ECR expenses ❖ Average HOA balances increased due to business growth ❖ Total HOA deposit costs are 2.76% consisting of ECR expenses of 207 bps and deposit rate costs (through NIM) of 69 bps ❖ ECR indexed to Fed Funds rate with every 25 bps change corresponding to ~$6mm of annual ECR expense Second Quarter 2026 Earnings | 32

Expect total project and investment spend of ~$17mm in 2026, with ~$5.8mm of planned expense in 2026 Project investment composition Revenue enhancing projects Back office and support projects Projects and Investments Note: Total project and investment spend includes costs that are both capitalized and expensed. Second Quarter 2026 Earnings | 33 19% 81% Revenue Enhancing Back Office and Support Projects $3.2mm $13.8mm 18% 51% 31% Infrastructure Optimization/Scalability Regulatory/Compliance $7.0mm $4.3mm $2.5mm 13% 28% 59% Sales Enablement Payments Business Specific $0.9mm $1.9mm $0.4mm

❖Uninsured and uncollateralized deposits of $7.6B, which represents ~27% of total deposits ❖Total primary and secondary liquidity was 1.8x uninsured and uncollateralized deposits Maintaining high levels of primary and secondary liquidity 1. Cash and cash equivalents figure presented as Bank only, excludes restricted cash. 2. Net of 6.1% haircut as of June 30, 2026. ($ in millions) 2Q26 Current Availability Utilization Capacity Primary Liquidity Cash and cash equivalents $2,646 AFS Securities (unpledged) 3,556 Total Primary Liquidity 6,202 Total Secondary Liquidity 7,905 2,961 10,866 Total Primary + Secondary Liquidity $14,107 Definitions Secondary Liquidity: Net available borrowing capacity with the FHLB and FRB. Primary liquidity: Cash and cash equivalents (excluding restricted cash) and the market value of unencumbered Available-For-Sale (“AFS”) securities, net of a haircut. These assets are (i) unencumbered, (ii) readily available for use, and (iii) can be readily sold or pledged under normal operating conditions and under a range of stress conditions. (1) (2) Liquidity HIGHLIGHTS Second Quarter 2026 Earnings | 34

Experienced Management Team with Track Record of Success at Leading Institutions Scott Ladd Chief Credit Officer for Specialty Banking and Credit Operations 25+ years banking and consulting experience, previously served as EVP, Group Head, Portfolio Management at PacWest Bancorp Hamid Hussain President of the Bank 30+ years of banking experience, previously served as EVP, Real Estate Market Executive for Wells Fargo Bryan Corsini Chief Credit Officer 35+ years of banking experience, previously served as CCO of PacWest Bancorp and Director of Pacific Western Bank Ido Dotan General Counsel and Chief Administrative Officer 20+ years experience in corporate securities, M&A, and structured finance. Previously served as EVP of Carrington Mortgage Holdings Olivia Lindsay Chief Risk Officer 25+ years of experience in regulatory processes and controls, previously spent 15 years at MUFG Union Bank Steve Schwimmer Chief Information Officer 30+ years of experience in banking technology, previously served as the EVP, Chief Innovation Officer at PacWest Bancorp Sean Lynden President, Venture Banking Group 30+ years of banking and related experience. Previously served as President of Venture Banking Group for Pacific Western Bank Kim Tu EVP, Chief People Officer 15+ years of banking and financial services experience across Human Resources. Previously held HR leadership roles at Mr. Cooper and JPMorgan Chase Karen Hon Chief Accounting Officer & Deputy Chief Financial Officer 25+ years of finance & accounting experience, previously served as Chief Accounting Officer at Silicon Valley Bank Jared Wolff Chairman and Chief Executive Officer 30+ years of banking and law. Previously held senior executive positions with City National Bank (RBC) and PacWest Bancorp Joe Kauder Chief Financial Officer 30+ years of banking experience, previously served as EVP, CFO Wells Fargo Wholesale Banking Bill Rhodes Chief Internal Audit Officer 25+ years of banking and internal audit experience, previously served as CAE of Coastal Community Bank and Deputy CAE of Silicon Valley Bank Joe Rice Vice Chairman and Senior EVP 30+ years of banking and related experience. Previously served as Chief Credit Officer and Chief Operational Risk Officer at Wells Fargo Second Quarter 2026 Earnings | 35

Appendix

Non-GAAP Financial Information Tangible assets, tangible common equity, tangible common equity ratio, tangible book value per common share, adjusted net earnings, adjusted return on average assets (“ROAA”), return on average tangible common equity, adjusted return on average tangible common equity, pre-tax pre-provision (“PTPP”) income, adjusted noninterest expense, efficiency ratio, adjusted efficiency ratio, adjusted ACL ratio, and economic coverage ratio constitute supplemental financial information determined by methods other than in accordance with GAAP. These non-GAAP measures are used by management in its analysis of the Company's performance. Tangible assets is calculated by subtracting goodwill and other intangible assets from total assets. Tangible common equity is calculated by subtracting preferred stock and goodwill and other intangible assets, as applicable, from stockholders’ equity. Return on average tangible common equity is calculated by dividing net earnings available to common stockholders, after adjustment for amortization of intangible assets and goodwill impairment, by average tangible common equity. Adjusted return on average tangible common equity is calculated by dividing adjusted net earnings available to common stockholders, after adjustment for amortization of intangible assets and goodwill impairment, by average tangible common equity. Banking regulators also exclude goodwill and other intangible assets from stockholders' equity when assessing the capital adequacy of a financial institution. Adjusted net earnings is calculated by adjusting net earnings by unusual, one-time items. ROAA is calculated by dividing annualized net earnings by average assets. Adjusted ROAA is calculated by dividing annualized adjusted net earnings by average assets. PTPP income is calculated by adding net interest income and noninterest income (total revenue) and subtracting noninterest expense. Adjusted noninterest expense is calculated by subtracting customer related expenses from noninterest expense. Efficiency ratio is calculated by dividing noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs) by total revenue (the sum of net interest income and noninterest income, less gain (loss) on securities AFS). Adjusted efficiency ratio is calculated by dividing adjusted noninterest expense (less intangible asset amortization and acquisition, integration and reorganization costs, customer related expenses and any unusual one-item items) by adjusted total revenue (the sum of net interest income and noninterest income, less gain (loss) on securities AFS and customer related expense). Economic coverage ratio is calculated by dividing the allowance for credit losses adjusted for the impact of the credit- linked notes and unearned credit mark from purchase accounting by loans and leases held for investment. Core deposits is calculated as total deposits less brokered CDs and brokered non-maturity deposits. Core loan portfolio is calculated as total loans held for investment less premium finance loans, student loans, and Civic loans. Adjusted ACL ratio is calculated by dividing adjusted ACL for lower loss loan categories by adjusted loans and leases held for investment. Management believes the presentation of these financial measures adjusting the impact of these items provides useful supplemental information that is essential to a proper understanding of the financial results and operating performance of the Company. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. The following tables on pages 38-47 provide reconciliations of the non-GAAP measures to financial measures defined by GAAP. Second Quarter 2026 Earnings | 37

Non-GAAP Reconciliation 1. Tangible common equity divided by tangible assets. 2. Total common equity divided by common shares outstanding. 3. Tangible common equity divided by common shares outstanding. 4. Common shares outstanding include non-voting common stock equivalents that are participating securities. ($ in thousands, except per share data) 2Q26 1Q26 4Q25 3Q25 2Q25 Tangible Common Equity Ratio Total stockholders' equity $3,410,146 $3,553,326 $3,541,277 $3,466,739 $3,426,843 Less: preferred stock 498,516 498,516 498,516 498,516 498,516 Total common equity 2,911,630 3,054,810 3,042,761 2,968,223 2,928,327 Less: goodwill and intangible assets 307,230 313,612 319,808 326,444 333,451 Tangible common equity $2,604,400 $2,741,198 $2,722,953 $2,641,779 $2,594,876 Total assets 35,030,953 34,724,241 34,797,442 34,012,965 34,250,453 Less: goodwill and intangible assets 307,230 313,612 319,808 326,444 333,451 Tangible assets $34,723,723 $34,410,629 $34,477,634 $33,686,521 $33,917,002 Total stockholders' equity to total assets 9.73% 10.23% 10.18% 10.19% 10.01% Tangible common equity ratio(1) 7.50% 7.97% 7.90% 7.84% 7.65% Book value per common share(2) $18.38 $19.80 $19.56 $19.09 $18.58 Tangible book value per common share (TBVPS)(3) $16.44 $17.77 $17.51 $16.99 $16.46 Common shares outstanding(4) 158,432,520 154,262,045 155,533,403 155,522,693 157,647,137 Second Quarter 2026 Earnings | 38

1. Effective tax rates of 28.00%, 25.14%, 26.86%, 27.34%, and 23.12%, used for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively. 2. Annualized net (loss) earnings divided by average stockholders' equity. 3. Annualized adjusted net (loss) earnings available to common and equivalent stockholders for ROATCE divided by average tangible common equity. 4. Annualized adjusted net (loss) earnings available to common and equivalent stockholders for adjusted ROATCE divided by average tangible common equity. Non-GAAP Reconciliation Second Quarter 2026 Earnings | 39 ($ in thousands) 2Q26 1Q26 4Q25 3Q25 2Q25 Return on Average Tangible Common Equity ("ROATCE") Net (loss) earnings ($241,347) $71,952 $77,391 $69,629 $28,385 Adjustments: Intangible asset amortization 6,349 6,348 6,788 7,160 7,159 Tax impact of adjustment above (1) (1,778) (1,596) (1,823) (1,958) (1,655) Adjustment to net (loss) earnings 4,571 4,752 4,965 5,202 5,504 Adjusted net (loss) earnings for ROATCE (236,776) 76,704 82,356 74,831 33,889 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net (loss) earnings available to common and equivalent stockholders for ROATCE ($246,723) $66,757 $72,409 $64,884 $23,942 Net (loss) earnings ($241,347) $71,952 $77,391 $69,629 $28,385 Adjustments: Intangible asset amortization 6,349 6,348 6,788 7,160 7,159 Provision for credit losses related to transfer of loans to held for sale - - - - 26,289 Total adjustments 6,349 6,348 6,788 7,160 33,448 Tax impact of adjustments above (1) (1,778) (1,596) (1,823) (1,958) (7,733) Income tax related adjustments - - - - 9,792 Adjustment to net (loss) earnings 4,571 4,752 4,965 5,202 35,507 Adjusted net (loss) earnings for adjusted ROATCE (236,776) 76,704 82,356 74,831 63,892 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net (loss) earnings available to common and equivalent stockholders for adjusted ROATCE ($246,723) $66,757 $72,409 $64,884 $53,945 Average total stockholders' equity 3,545,141 3,548,700 3,494,157 3,437,335 3,430,143 Less: Average goodwill and intangible assets 311,068 317,215 323,295 330,277 337,352 Less: Average preferred stock 498,516 498,516 498,516 498,516 498,516 Average tangible common equity $2,735,557 $2,732,969 $2,672,346 $2,608,542 $2,594,275 Return on average equity (2) (27.31%) 8.22% 8.79% 8.04% 3.32% Return on average tangible common equity (3) (36.18%) 9.91% 10.75% 9.87% 3.70% Adjusted return on average tangible common equity (4) (36.18%) 9.91% 10.75% 9.87% 8.34%

1. Effective tax rates of 28.00%, 25.14%, 26.86%, 27.34%, and 23.12%, used for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively. 2. Adjusted net (loss) earnings available to common and equivalent stockholders divided by weighted average common shares outstanding. 3. Annualized net (loss) earnings divided by average assets. 4. Annualized adjusted net (loss) earnings divided by average assets. Non-GAAP Reconciliation Second Quarter 2026 Earnings | 40 ($ in thousands, except per share amounts) 2Q26 1Q26 4Q25 3Q25 2Q25 Net (loss) earnings ($241,347) $71,952 $77,391 $69,629 $28,385 Adjustments: Provision for credit losses related to transfer of loans to held for sale - - - - 26,289 Total Adjustments - - - - 26,289 Tax impact of adjustment above(1) - - - - (6,078) Income tax related adjustments - - - - 9,792 Adjustment to net (loss) earnings - - - - 30,003 Adjusted net (loss) earnings ($241,347) 71,952 77,391 69,629 58,388 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net (loss) earnings available to common and equivalent stockholders ($251,294) $62,005 $67,444 $59,682 $48,441 Weighted average diluted common shares outstanding 155,803 160,832 160,094 159,051 158,462 Diluted earnings per common share ($1.61) $0.39 $0.42 $0.38 $0.12 Adjusted diluted earnings per common share(2) ($1.61) $0.39 $0.42 $0.38 $0.31 Average total assets $34,644,930 $34,002,701 $33,752,500 $33,831,217 $33,764,149 Return on average assets ("ROAA")(3) (2.79%) 0.86% 0.91% 0.82% 0.34% Adjusted ROAA(4) (2.79%) 0.86% 0.91% 0.82% 0.69% Adjusted Net (Loss) Earnings

Non-GAAP Reconciliation Second Quarter 2026 Earnings | 41 ($ in thousands) 2Q26 1Q26 4Q25 3Q25 2Q25 PTPP (Loss) Income Net interest income $250,501 $251,617 $251,362 $253,444 $240,216 Add: Noninterest (loss) income (234,096) 35,328 41,571 34,285 32,633 Total revenue 16,405 286,945 292,933 287,729 272,849 Less: Noninterest expense (189,867) (181,391) (180,644) (185,684) (185,869) Pre-tax, pre-provision ("PTPP") (loss) income ($173,462) $105,554 $112,289 $102,045 $86,980

1. Noninterest expense used for efficiency ratio divided by total revenue used for efficiency ratio. 2. Noninterest expense used for adjusted efficiency ratio divided by total revenue used for adjusted efficiency ratio. Non-GAAP Reconciliation ($ in thousands) 2Q26 1Q26 4Q25 3Q25 2Q25 Adjusted Efficiency Ratio Noninterest expense $189,867 $181,391 $180,644 $185,684 $185,869 Less: Intangible asset amortization (6,349) (6,348) (6,788) (7,160) (7,159) Noninterest expense used for efficiency ratio $183,518 $175,043 $173,856 $178,524 $178,710 Less: Customer related expense (24,114) (23,737) (24,870) (26,227) (26,577) Noninterest expense used for adjusted efficiency ratio $159,404 $151,306 $148,986 $152,297 $152,133 Net interest income $250,501 $251,617 $251,362 $253,444 $240,216 Noninterest (loss) income ($234,096) 35,328 41,571 34,285 32,633 Total Revenue $16,405 $286,945 $292,933 $287,729 $272,849 Add: Loss on securities AFS 256,749 - - - - Total revenue used for efficiency ratio $273,154 $286,945 $292,933 $287,729 $272,849 Less: Customer related expense (24,114) (23,737) (24,870) (26,227) (26,577) Total revenue used for adjusted efficiency ratio $249,040 $263,208 $268,063 $261,502 $246,272 Noninterest expense to total revenue 1157.37% 63.21% 61.67% 64.53% 68.12% Efficiency ratio(1) 67.18% 61.00% 59.35% 62.05% 65.50% Adjusted efficiency ratio(2) 64.01% 57.49% 55.58% 58.24% 61.77% Second Quarter 2026 Earnings | 42

($ in thousands) 2Q26 1Q26 4Q25 3Q25 2Q25 Noninterest expense $189,867 $181,391 $180,644 $185,684 $185,869 Less: Customer related expense (24,114) (23,737) (24,870) (26,227) (26,577) Adjusted noninterest expense $165,753 $157,654 $155,774 $159,457 $159,292 Average assets $34,644,930 $34,002,701 $33,752,500 $33,831,217 $33,764,149 Noninterest expense to average total assets 2.20% 2.16% 2.12% 2.18% 2.21% Adjusted noninterest expense to average total assets 1.92% 1.88% 1.83% 1.87% 1.89% Adjusted Noninterest Expense to Average Total Assets Non-GAAP Reconciliation Second Quarter 2026 Earnings | 43

($ in millions) 2Q26 1Q26 2Q25 Total Deposits $28,121 $27,322 $27,528 Less: Brokered CDs (2,591) (2,562) (2,312) Less: Brokered Non-maturity Deposits (227) (226) (565) Total Core Deposits $25,303 $24,534 $24,652 Core Deposits Non-GAAP Reconciliation Second Quarter 2026 Earnings | 44

Non-GAAP Reconciliation ($ in millions) 2Q26 1Q26 Total Loans HFI $24,211 $24,780 Discontinued Area Loans: Less: Premium Finance Loans (356) (408) Less: Student Loans (238) (250) Less: Civic Loans (24) (27) Total Discontinued Area Loans (618) (685) Total Core Loans $23,592 $24,095 Core Loans Second Quarter 2026 Earnings | 45

Non-GAAP Reconciliation 1. Unearned credit mark from purchase accounting estimated by using the same pro rata split between the credit and yield marks associated with the non-PCD loans (purchased loans without credit deterioration at the time of the purchase) at the time of the acquisition. 2. Credit-linked notes loss coverage equal to 5% of the unpaid principal balance of the pledged loans. 3. Allowance for credit losses divided by loans and leases held for investment. 4. Adjusted allowance for credit losses divided by loans and leases held for investment. ($ in thousands) 2Q26 1Q26 4Q25 3Q25 2Q25 Allowance for credit losses ("ACL") $276,240 $276,521 $280,533 $270,722 $258,565 Add: Unearned credit mark from purchase accounting (1) 12,920 14,315 15,865 17,496 19,199 Add: Credit-linked notes(2) 105,026 104,988 108,413 110,539 112,887 Adjusted allowance for credit losses $394,186 $395,824 $404,811 $398,757 $390,651 Loans and leases held for investment $24,210,846 $24,780,347 $25,032,679 $24,110,642 $24,245,893 ACL to loans and leases held for investment(3) 1.14% 1.12% 1.12% 1.12% 1.07% Economic coverage ratio(4) 1.63% 1.60% 1.62% 1.65% 1.61% Economic Coverage Ratio Second Quarter 2026 Earnings | 46

Non-GAAP Reconciliation 1. Lower loss loan categories include warehouse lending loans, equity fund loans, lender finance loans, and residential mortgage loans. 2. ACL divided by loans and leases held for investment. 3. Adjusted ACL for lower loss loan categories (includes SFR, Warehouse, Fund Finance, and Lender Finance) divided by adjusted loans and leases held for investment. ($ in thousands) 2Q26 Allowance for credit losses ("ACL") $276,240 Less: ACL on lower loss loan categories: ACL on warehouse lending loan portfolio (4,030) ACL on equity fund loan portfolio (461) ACL on lender finance loan portfolio (6,450) ACL on single family residential mortgage loans (6,034) Adjusted ACL for total lower loss loan categories(1) $259,266 Loans and leases held for investment $24,210,846 Less: Lower loss loan categories: Warehouse lending loan portfolio (1,680,730) Equity fund loan portfolio (1,504,497) Lender finance loan portfolio (2,017,200) Single family residential mortgage loans (3,769,706) Adjusted loans and leases held for investment(1) $15,238,714 ACL to loans and leases held for investment(2) 1.14% Adjusted ACL excluding SFR loans 1.32% Adjusted ACL excluding SFR and warehouse loans 1.42% Adjusted ACL for total lower loss loan categories to adjusted loans and leases held for investment(3) 1.70% Adjusted ACL for Lower Loss Loan Categories Ratio Second Quarter 2026 Earnings | 47

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Jul. 29, 2026

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8-K

Document Period End Date

Jul. 29, 2026

Entity Registrant Name

BANC OF CALIFORNIA, INC.

Entity Incorporation, State or Country Code

Entity File Number

001-35522

Entity Tax Identification Number

04-3639825

Entity Address, Address Line One

11611 San Vicente Boulevard, Suite 500

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Los Angeles

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Document Information [Line Items]

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Common Stock, par value $0.01 per share

Trading Symbol

BANC

Security Exchange Name

NYSE

Series F Preferred Stock

Document Information [Line Items]

Title of 12(b) Security

Depositary Shares, each representing a 1/40th interest in a share of 7.75% fixed rate reset non-cumulative perpetual preferred stock, Series F

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BANC/PF

Security Exchange Name

NYSE

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