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BANC on NYSE

BANC OF CALIFORNIA, INC.

BANC OF CALIFORNIA, INC. is an American national commercial bank based in Santa Ana, listed on NYSE (BANC).1

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Last updated Oct 21, 2026.

Overview

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  • TickerBANC on NYSE1
  • IndustryNational Commercial Banks1
  • HeadquartersSanta Ana, California1
  • Incorporated inMD2
  • Business address3 Macarthur Place, Santa Ana, Ca 927072
  • Filer categoryLarge accelerated filer2
  • Legal formCorporation

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Banc of California, Inc., a Maryland corporation, was incorporated in March 2002 and serves as the holding company for its wholly owned subsidiary, Banc of California (the “Bank”), a California state-chartered bank and a member of the FRB. When we refer to the “parent” or the “holding company,” we are referring to Banc of California, Inc., the parent company, on a stand-alone basis. When we refer to “we,” “us,” “our,” or the “Company,” we are referring to Banc of California, Inc. and its consolidated subsidiaries including the Bank, collectively. As a bank holding company, the holding company is subject to ongoing and comprehensive supervision, regulation, examination, and enforcement by the FRB. As a California state-chartered bank that is a member of the FRB, the Bank is subject to ongoing and comprehensive supervision, regulation, examination, and enforcement by the DFPI and the FRB.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

590.2%Net margin5
4.2%Revenue growth, 20255
6.5%Return on equity5
0.58×Debt to equity5
$234.8MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Noninterest Income brought in 50% of the revenue BANC OF CALIFORNIA, INC. broke down this way in fiscal 2025.

  1. Noninterest Income$38.8M550%up 4% from 2024
  2. Service Charges on Deposit Accounts$19.1M525%up 3% from 2024
  3. Other Commissions And Fees$19.1M525%up 6% from 2024
Products and services by year
Products and services202320242025
Noninterest Income$33.8M$37.2M$38.8M
Service Charges on Deposit Accounts$16.5M$18.6M$19.1M
Other Commissions And Fees$16.6M$18.1M$19.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Income tax27¢$84.1M
  • Profit73¢$229.0M

Out of $38.8M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending8¢$20.8M
  • Kept or used elsewhere92¢$234.8M

Out of $255.6M of cash from operations.5

Financial statements

Revenue6785$38.8M in 2025+877% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $4.0M$4.0M20192020: $3.8M$3.8M2020−4%2021: $24.8M$24.8M2021+552%2022: $30.7M$30.7M2022+24%2023: $33.8M$33.8M2023+10%2024: $37.2M$37.2M2024+10%2025: $38.8M$38.8M2025+4%
Net income69785$229.0M in 2025+864% since 2019
-$2.0B-$1.0B0$1.0B2019: $23.8M$23.8M20192020: $12.6M$12.6M2020−47%2021: $607.0M$607.0M2021+4727%2022: $423.6M$423.6M2022−30%2023: -$1.9B-$1.9B20232024: $126.9M$126.9M20242025: $229.0M$229.0M2025+80%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Loans and leases$1.4B$1.5B$1.5B
Investment securities$153.3M$140.8M$175.0M
Deposits in financial institutions$82.9M$170.4M$299.6M
Total interest income$1.7B$1.8B$2.0B
Deposits$558.4M$716.0M$748.4M
Borrowings$78.8M$104.4M$416.7M
Subordinated debt$62.1M$66.3M$58.7M
Total interest expense$699.3M$886.7M$1.2B
Net interest income$977.4M$926.0M$747.1M
Provision for credit losses$70.6M$42.8M$52.0M
Net interest income after provision for credit losses$906.8M$883.2M$695.1M
Other commissions and fees$38.6M$33.3M$38.1M
Leased equipment income$47.7M$51.1M$63.2M
Service charges on deposit accounts$19.1M$18.6M$16.5M
(Loss) gain on sale of loans and leases-$115.0K$645.0K-$161.3M
Loss on sale of securities$0-$60.4M-$442.4M
Dividends and gains on equity investments$8.0M$8.0M$15.7M
Warrant income (loss)$1.7M$408.0K-$718.0K
LOCOM HFS Adjustment-$9.0K$215.0K-$8.5M
Other income$27.0M$25.3M$31.2M
Total noninterest income (loss)$142.1M$77.1M-$448.3M
Compensation$349.5M$341.4M$332.4M
Occupancy$60.6M$68.0M$61.7M
Leased equipment depreciation$26.4M$29.3M$34.2M
Insurance and assessments$32.8M$70.8M$135.7M
Other professional services$23.1M$20.9M$24.6M
Customer related expense$105.4M$129.5M$124.1M
Intangible asset amortization$28.3M$33.1M$11.4M
Loan expense$16.4M$17.3M$20.5M
Acquisition, integration and reorganization costs$0-$14.2M$142.6M
Goodwill impairment$0$0$1.4B
Other expense$38.0M$35.3M$142.5M
Total noninterest expense$735.9M$791.7M$2.5B
Earnings (loss) before income taxes$313.1M$168.7M-$2.2B
Income tax expense (benefit)-$84.1M-$41.8M$312.2M
Net earnings (loss)$229.0M$126.9M-$1.9B
Basic income per share (usd per share)$1.18$0.52-$22.71
Diluted income per share (usd per share)$1.17$0.52-$22.71
Preferred Stock Dividends, Income Statement Impact$39.8M$39.8M$39.8M
Net Income (Loss) Available to Common Stockholders, Diluted$189.2M$87.1M-$1.9B
Net Income (Loss) Available to Common Stockholders, Basic$189.2M$87.1M-$1.9B
Information Technology and Data Processing$55.5M$60.4M$51.8M

Compare BANC OF CALIFORNIA, INC. with another company

Corporate structure

BANC OF CALIFORNIA, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of BANC OF CALIFORNIA, INC.

  • BANC OF CALIFORNIA, INC. Santa Ana, California

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What BANC OF CALIFORNIA, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$8.9M5 Dec 31, 2025$8.9M5 Dec 31, 20240%
Buildings and improvements$95.3M5 Dec 31, 2025$95.4M5 Dec 31, 2024−0.1%
Furniture and fixtures$65.6M5 Dec 31, 2025$52.3M5 Dec 31, 2024+25.6%
Leasehold improvements$74.3M5 Dec 31, 2025$78.3M5 Dec 31, 2024−5.1%
Property and equipment, before depreciation$244.1M5 Dec 31, 2025$234.9M5 Dec 31, 2024+3.9%
Accumulated depreciation$97.4M5 Dec 31, 2025$92.3M5 Dec 31, 2024+5.5%
Property and equipment, net$146.7M5 Dec 31, 2025$142.5M5 Dec 31, 2024+2.9%
Operating-lease assets (leased space)$99.2M5 Dec 31, 2025$100.1M5 Dec 31, 2024−0.9%

Investments

ItemLatestA year beforeChange
Debt securities available for sale$2.5B5 Dec 31, 2025$2.2B5 Dec 31, 2024+9.2%
Equity securities at fair value$2.0K5 Dec 31, 2025$3.0K5 Dec 31, 2024−33.3%
Loans, net of allowance$24.8B5 Dec 31, 2025$23.5B5 Dec 31, 2024+5.3%
Deposits held (banks)$27.8B5 Dec 31, 2025$27.2B5 Dec 31, 2024+2.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$214.5M5 Dec 31, 2025$214.5M5 Dec 31, 20240%
Finite-lived intangibles, gross$178.8M5 Dec 31, 2025$178.8M5 Dec 31, 20240%
Accumulated amortization$73.5M5 Dec 31, 2025$45.8M5 Dec 31, 2024+60.4%
Finite-lived intangibles, net$105.3M5 Dec 31, 2025$132.9M5 Dec 31, 2024−20.8%

Properties, in its own words

As of December 31, 2025, we had a total of 107 properties consisting of 79 full-service branch offices and 28 other offices. We own six locations, and the remaining properties are leased. Our properties are located throughout the United States, however, the vast majority of which are located in California. Our headquarters, which we lease, is located at 11611 San Vicente Blvd., Suite 500, Los Angeles, CA 90049.

For additional information regarding properties of the Company, see "Note 6. Premises and Equipment, Net" in Item 8 of this Form 10-K.

Item 2 of the 10-K filed Feb 27, 2026.4

Leadership

Who has led BANC OF CALIFORNIA, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Hans R. Ganz2006–2011
  2. Gregory A. Mitchell2010–2012
  3. Steven Sugarman2012–2017
  4. Hugh F. Boyle2017
  5. Douglas H. Bowers2017–2019
  6. Jared M. Wolff2019–now

Chair

  1. Alvin L. Majors2007–2011
  2. Steven Sugarman2014–2017
  3. Jared M. Wolff2026–now

President

  1. Hans R. Ganz2006–2011
  2. Gregory A. Mitchell2010–2012
  3. Robert Matthew /adv Franko2012–2014
  4. J. Francisco A. Turner2017
  5. Douglas H. Bowers2017–2019
  6. Jared M. Wolff2019–2025
  7. Hamid Hussain2023–now

Chief financial officer

  1. Marangal I. Domingo2011–2012
  2. Ronald J. Nicolas Jr.2012–2015
  3. Lonny Duane Robinson2012–2014
  4. James J. McKinney2016
  5. J. Francisco A. Turner2017
  6. John A. Bogler2017–2019
  7. Lynn M. Hopkins2019–2023
  8. Raymond J. Rindone2022–2025
  9. Joseph Kauder2023–now

Chief operating officer

  1. John K. Sotoodeh2023–2024
2010201520202025
Board members and other officers (72)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerDotan M. Ido named Sep 22, 2022103

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Banc of California California3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • FIRST PACTRUST BANCORP INCMar 28, 2002 to Jul 19, 20132

Timeline

  1. Jul 29, 20268-K Results of operations; Regulation FD disclosure104
  2. May 8, 20268-K Shareholder vote105
  3. Apr 22, 20268-K Results of operations; Regulation FD disclosure106
  4. Mar 6, 20268-K Other events107
  5. Feb 6, 20268-K Other events108
  6. Jan 21, 20268-K Results of operations; Regulation FD disclosure109
  7. Oct 22, 20258-K Results of operations; Regulation FD disclosure110
  8. Jul 23, 20258-K Results of operations; Regulation FD disclosure111
  9. May 8, 20258-K Shareholder vote; Other events112
  10. Apr 23, 20258-K Results of operations; Regulation FD disclosure113
  11. Mar 4, 20258-K Executive or director change; Regulation FD disclosure114
  12. Jan 23, 20258-K Results of operations; Regulation FD disclosure115
  13. Mar 20, 2019New chief executive Jared M. Wolff becomes CEO14
  14. May 22, 2017New chief executive Douglas H. Bowers becomes CEO16
  15. Feb 14, 2017New chief executive Hugh F. Boyle becomes CEO15
  16. Aug 23, 2012New chief executive Steven Sugarman becomes CEO17
  17. Nov 3, 2010New chief executive Gregory A. Mitchell becomes CEO18
  18. Feb 13, 2006New chief executive Hans R. Ganz becomes CEO19

Calendar

Coming up

  1. Oct 27, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.38 a share, on Oct 22, 2025.116

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results104
  2. Apr 22, 2026Reported quarterly or annual results106
  3. Jan 21, 2026Reported quarterly or annual results109
  4. Oct 22, 2025Reported quarterly or annual results110
  5. Jul 23, 2025Reported quarterly or annual results111
  6. Apr 23, 2025Reported quarterly or annual results113
  7. Jan 23, 2025Reported quarterly or annual results115
  8. Oct 22, 2024Reported quarterly or annual results117

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

436 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 53 major events, 259 insider forms, 34 large holders, 1 private raises, 69 other. The latest 20:

  1. Oct 7, 2026SCHEDULE 13G/A EDGAR
  2. Sep 11, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 10, 2026144 EDGAR
  4. Aug 7, 202610-Q EDGAR
  5. Aug 4, 20264 PRIMARY DOCUMENT EDGAR
  6. Aug 4, 2026144 EDGAR
  7. Aug 3, 20264 PRIMARY DOCUMENT EDGAR
  8. Jul 29, 20268-K EDGAR
  9. Jul 14, 2026SCHEDULE 13G/A EDGAR
  10. Jul 10, 20264 PRIMARY DOCUMENT EDGAR
  11. Jun 11, 2026144 EDGAR
  12. May 29, 2026144 EDGAR
  13. May 27, 20264 PRIMARY DOCUMENT EDGAR
  14. May 26, 2026144 EDGAR
  15. May 26, 2026144 EDGAR
  16. May 11, 20264 PRIMARY DOCUMENT EDGAR
  17. May 8, 20264 PRIMARY DOCUMENT EDGAR
  18. May 8, 20264 PRIMARY DOCUMENT EDGAR
  19. May 8, 20264 PRIMARY DOCUMENT EDGAR
  20. May 8, 20264 PRIMARY DOCUMENT EDGAR

The 436 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

41 open-market trades by officers, directors and large owners since October 2021: 17 buys and 24 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 10, 2026Dotan IdoGENERAL COUNSEL, CORP SECRTYSale10,541$18.30$192.9KForm 4
Aug 4, 2026Lindsay Olivia ICHIEF RISK OFFICERSale6,000$19.51$117.1KForm 4
May 26, 2026CORSINI BRYAN MCHIEF CREDIT OFFICERSale14,988$19.06$285.7KForm 4
Apr 29, 2026CORSINI BRYAN MCHIEF CREDIT OFFICERSale10,399$18.52$192.6KForm 4
Apr 29, 2026CORSINI BRYAN MCHIEF CREDIT OFFICERSale10,399$18.52$192.6KForm 4
Feb 13, 2026WARBURG PINCUS (CAYMAN) FINANCIAL SECTOR II GP LLCDirectorSale4,250,000$20.10$85.4MForm 4
Feb 13, 2026WARBURG PINCUS LLCDirectorSale4,250,000$20.10$85.4MForm 4
Feb 9, 2026Hussain HamidPRESIDENT OF THE BANKBuy14,000$21.12$295.7KForm 4
Feb 2, 2026Warburg Pincus (Bermuda) Private Equity GP Ltd.DirectorSale11,850,000$20.00$237.0MForm 4
Feb 2, 2026WARBURG PINCUS GLOBAL GROWTH 14 PARTNERS (CAYMAN), L.P.DirectorSale11,850,000$20.00$237.0MForm 4
Sep 8, 2025WARBURG PINCUS (CAYMAN) FINANCIAL SECTOR II GP, L.P.DirectorSale1,150,000$16.38$18.8MForm 4
Sep 8, 2025WARBURG PINCUS GLOBAL GROWTH 14-B (CAYMAN), L.P.DirectorSale1,150,000$16.38$18.8MForm 4
Sep 5, 2025WARBURG PINCUS (CAYMAN) FINANCIAL SECTOR II GP, L.P.DirectorSale4,500,000$16.38$73.7MForm 4
Sep 5, 2025WARBURG PINCUS GLOBAL GROWTH 14-B (CAYMAN), L.P.DirectorSale4,500,000$16.38$73.7MForm 4
Sep 3, 2025Hussain HamidPRESIDENT OF THE BANKSale20,000$16.81$336.2KForm 4
Sep 2, 2025Hussain HamidPRESIDENT OF THE BANKSale20,000$16.59$331.8KForm 4
Jun 10, 2025LASHLEY RICHARD JDirectorSale37,500$14.20$532.5KForm 4
Jun 9, 2025LASHLEY RICHARD JDirectorSale37,343$14.03$523.9KForm 4
Jun 6, 2025LASHLEY RICHARD JDirectorSale157$14.00$2.2KForm 4
Jun 5, 2025Lindsay Olivia ICHIEF RISK OFFICERSale11,000$13.58$149.4KForm 4

All 41 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Jared Wolff$1.1M$5.3M129
2025Bryan Corsini$550.0K$1.9M129
2025Hamid Hussain$625.0K$1.8M129
2025Joseph Kauder$575.0K$1.7M129
2025Ido Dotan$575.0K$1.7M129
2024ChairmanChief Executive Officer and President$1.0M$12.1M129
2024Executive Vice PresidentChief Financial Officer$572.1K$3.0M129
2023ChairmanChief Executive Officer and President$872.2K$3.9M129
2023Executive Vice PresidentChief Financial Officer$238.0K$1.0M129

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 15, 2022Raised $7.2 million in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.22,626,138$462.3M0.0%+2,004,722
State Street Corp9,592,437$197.1M0.0%+518,549
Dimensional Fund Advisors LP6,893,063$140.8M0.0%+428,616
Vanguard Portfolio Management LLC6,434,007$131.4M0.0%+1,634,063
Vanguard Capital Management LLC6,344,209$129.6M0.0%+148,086
Wellington Management Group Llp6,121,876$125.1M0.0%+3,645,579
Invesco Ltd.4,963,067$101.4M0.0%+691,368
American Century Companies Inc4,428,331$90.5M0.0%+987,647
Geode Capital Management, LLC3,735,558$76.3M0.0%+62,353
Goldman Sachs Group Inc3,034,918$62.0M0.0%+440,132
Neuberger Berman Group LLC2,975,692$60.8M0.0%+166,224
Two Sigma Investments, LP2,957,956$60.4M0.0%+1,737,305
Ameriprise Financial Inc2,818,633$57.6M0.0%+488,472
Millennium Management LLC2,698,474$55.1M0.0%−4,582,756
PL Capital Advisors, LLC2,449,219$50.0M13.9%−500,000
Jpmorgan Chase & Co2,300,242$47.2M0.0%+1,468,652
Assenagon Asset Management S.A.2,130,864$43.5M0.0%New
Morgan Stanley1,940,174$39.6M0.0%−249,253
Barclays PLC1,688,832$34.5M0.0%+696,223
Northern Trust Corp1,673,095$34.2M0.0%+230,045
Nuveen, LLC1,552,528$31.7M0.0%+958,313
Hodges Capital Management Inc.1,345,846$27.5M1.8%−116,456
Qube Research & Technologies Ltd1,291,403$26.4M0.0%+65,486
Charles Schwab Investment Management Inc1,262,648$25.8M0.0%−1,623
William Blair Investment Management, LLC1,249,192$25.5M0.1%−334,285

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How BANC OF CALIFORNIA, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBANC OF CALIFORNIA, INC.1
  • CIK0001169770
  • Employer ID (EIN)04-36398254
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inMaryland4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6021 National Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address3 Macarthur Place, Santa Ana, CA 927071
  • Phone949-236-52111
  • Shares outstanding157,950,529 as of Jul 31, 202611
  • Public float$1.9B as of Jun 30, 20254
  • AuditorErnst & Young LLP, Irvine, California PCAOB ID 42; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceMar 28, 20021
  • Filings1,957 in all: 4 (760), 8-K (484), 10-Q (73), 3 (73), SC 13G/A (71), 5 (68), 424B5 (32), 425 (32)1
    All 58 form types

    DEF 14A (25), 10-K (24), 8-K/A (24), SC 13G (24), SC 13D/A (23), 4/A (21), DEFA14A (19), 144 (17), UPLOAD (15), CORRESP (13), FWP (13), S-8 (11), SC 13D (10), ARS (9), EFFECT (9), S-4/A (8), SCHEDULE 13G/A (7), 10-K/A (6), 424B3 (6), 8-A12B (6), S-3 (5), S-3/A (5), 25-NSE (4), 5/A (4), PRE 14A (4), S-3ASR (4), S-4 (4), SC TO-I/A (4), 305B2 (3), D (3), NT 10-Q (3), S-1/A (3), SCHEDULE 13G (3), 10-Q/A (2), 11-K (2), 424B7 (2), ABS-15G (2), CERTNAS (2), CERTNYS (2), NT 10-K (2), POS AM (2), 25 (1), 3/A (1), 8-A12G (1), CERT (1), PX14A6G (1), S-1 (1), S-8 POS (1), SC TO-I (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Mar 26, 2026
    Latest 8-K (8-K) Jul 29, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareBANCNew York Stock Exchange

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks BANC OF CALIFORNIA, INC. names in Item 1A of its 10-K filed Feb 27, 2026: 46 risks under these headings, as written.4

  • Risks Relating to Our Operations
  • New lines of business, new products and services, or strategic project initiatives, or new partnerships may subject us to additional risks.
  • We are subject to certain risks in connection with our use of technology.
  • Our cybersecurity measures may not be sufficient to mitigate losses or exposure to cyber-attack or cyber theft.
  • Our security measures may not protect us from systems failures or interruptions.
  • We rely on communications, information, operating and financial control systems technology from third-party service providers, and we may suffer an interruption in those systems.
  • The development and use of new technologies, including artificial intelligence (“AI”), presents risks and challenges that may adversely impact our business.
  • To the extent we acquire other banks, bank branches, other assets, or other businesses, we may be negatively impacted by certain risks inherent with such acquisitions.
  • Our payment processing and merchant acquiring activities expose us to regulatory, fraud, third-party, and operational risks that could materially adversely affect our business and financial results.
  • Managing reputational risk is important to attracting and maintaining clients, investors and employees.
  • We depend on key management personnel.
  • We have a net deferred tax asset that may not be fully realized.
The other 35 risks
  • Changes in market conditions or strategic balance sheet actions may result in realized losses on investment securities or other assets.
  • Our level of indebtedness could adversely affect our ability to raise capital and meet our debt obligations.
  • Risks Related to Credit and Interest Rates
  • If actual losses on our loans exceed our estimates used to establish our allowance for credit losses, our business, financial condition and profitability may suffer.
  • There are risks associated with our lending activities and our allowance for credit losses may prove to be insufficient to absorb actual losses in our loan portfolio.
  • Our business and operating results could be adversely affected by uncertainty in the political environment and governmental fiscal and monetary policies.
  • Our business may be adversely affected by difficult economic conditions, including inflationary pressures or volatility in the financial markets, which may impact our business, financial position, and results of operations.
  • Our business may be adversely affected by credit risk associated with residential property and declining property values.
  • Our real estate loan portfolio is subject to certain risks including market, environmental and project-specific risks.
  • Our loan portfolio possesses increased risk due to our level of adjustable rate loans.
  • Our underwriting practices may not protect us against losses in our loan portfolio.
  • Repayment of our commercial and industrial loans is often dependent on the cash flows of the borrower, which may be unpredictable, and the collateral securing these loans may not be sufficient to repay the loan in the event of default.
  • We are exposed to risk of environmental liabilities with respect to real properties acquired.
  • Secondary mortgage market conditions could have a material adverse impact on our business, results of operations, financial condition, or liquidity.
  • Any breach of representations and warranties made by us to our loan purchasers or credit default on our loan sales may require us to repurchase loans we have sold.
  • Credit impairment in our investment securities portfolio could result in losses and adversely affect our continuing operations.
  • Our income property loans, consisting of commercial real estate and multi-family loans, involve higher principal amounts than other loans and repayment of these loans may be dependent on factors outside our control or the control of our borrowers.
  • A reduction in our credit ratings could adversely affect our access to capital and could increase our cost of funds.
  • Funding and Liquidity Risks
  • We may not be able to develop and maintain a strong core deposit base or other low cost funding sources.
  • Liquidity risk could impair our ability to fund operations and jeopardize our financial condition.
  • Problems encountered by, or adverse news concerning, other financial institutions may adversely affect financial and capital markets generally as well as the Bank.
  • We are subject to regulatory capital requirements, which could be made more stringent in the discretion of our regulators.
  • The FRB may require us to commit capital resources or take other action to support the Bank.
  • We may elect or be compelled to seek additional capital in the future, but that capital may not be available when it is needed or on acceptable terms.
  • Our holding company relies on dividends from the Bank for substantially all of its income and as the primary source of funds for cash dividends to our preferred, common, and NVCE stockholders.
  • There can be no assurance as to the level of dividends we may pay on our common stock and NVCE stock.
  • Legal and Compliance Risks
  • We operate in a highly regulated environment and our business, operations, and income may be adversely affected by changes in laws, rules, and regulations governing our operations.
  • We are a party to a variety of litigation and other actions.
  • Changes in federal, state or local tax laws, or audits from tax authorities, could negatively affect our financial condition and results of operations.
  • Failure to comply with applicable laws or regulations, or to satisfy our regulators' supervisory expectations, could subject us to supervisory or enforcement action, which could adversely affect our business, financial condition, and results of operations.
  • Non-compliance with laws and regulations could result in fines or sanctions or operating restrictions.
  • We are subject to federal and state fair lending laws, and failure to comply with these laws could lead to material penalties.
  • We are subject to a wide range of laws related to anti-money laundering, economic sanctions, and prevention of financial crime, which could increase our costs or subject us to significant penalties.
  • Risks Relating to External Factors and Markets
  • Severe weather events, natural disasters such as earthquakes and wildfires, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events could significantly impact our business.
  • Our financial condition and results of operations are dependent on the national and local economy, particularly in the Bank’s market areas. A worsening in economic conditions in the market areas we serve may impact our earnings adversely and could increase the credit risk of our loan portfolio.
  • Strong competition within our market areas may limit our growth and profitability.

Legal proceedings

See "Note 13. Commitments and Contingencies" in Item 8 of this Form 10-K. That information is incorporated into this item by reference.

The opening of Item 3, Legal Proceedings.4

Sources

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