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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
Schedule of Changes in Accounting Policies
The following tables present the effect of the retrospective application of this change in accounting principle on the Company’s Consolidated Statements of Financial Condition, Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the respective periods:
BANC OF CALIFORNIA, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
 
December 31, 2014
 
As Previously Reported
 
Effect of Change in Accounting Principle
 
As Adjusted
 
(In thousands)
Assets
 
 
 
 
 
Cash and cash equivalents
$
231,199

 
$
—

 
$
231,199

Time deposits in financial institutions
1,900

 
—

 
1,900

Securities available for sale
345,695

 
—

 
345,695

Loans held for sale
1,187,090

 
—

 
1,187,090

Loans and leases receivable
3,919,642

 
—

 
3,919,642

Deferred income tax
16,445

 
(72
)
 
16,373

Other assets
269,600

 
(202
)
 
269,398

Total assets
$
5,971,571

 
$
(274
)
 
$
5,971,297

Liabilities and stockholders' equity
 
 
 
 
 
Liabilities
$
5,467,982

 
$
—

 
$
5,467,982

Stockholders' equity
503,589

 
(274
)
 
503,315

Total liabilities and stockholders' equity
$
5,971,571

 
$
(274
)
 
$
5,971,297


BANC OF CALIFORNIA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 
Three Months Ended June 30, 2014
 
As Previously Reported
 
Effect of Change in Accounting Principle
 
As Adjusted
 
(In thousands, except per share data)
Interest and dividend income
$
43,634

 
$
—

 
$
43,634

Interest expense
8,059

 
—

 
8,059

Net interest income
35,575

 
—

 
35,575

Provision for loan and lease losses
2,108

 
—

 
2,108

Noninterest income
35,372

 
—

 
35,372

Noninterest expense
60,465

 
(161
)
 
60,304

Income before income taxes
8,374

 
161

 
8,535

Income tax expense
253

 
183

 
436

Net income
8,121

 
(22
)
 
8,099

Preferred stock dividends
910

 
—

 
910

Net income available for common stockholders
$
7,211

 
$
(22
)
 
$
7,189

Basic earnings per total common share
$
0.27

 
$
—

 
$
0.27

Diluted earnings per total common share
$
0.27

 
$
—

 
$
0.27


BANC OF CALIFORNIA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 
Six Months Ended June 30, 2014
 
As Previously Reported
 
Effect of Change in Accounting Principle
 
As Adjusted
 
(In thousands, except per share data)
Interest and dividend income
$
86,410

 
$
—

 
$
86,410

Interest expense
15,650

 
—

 
15,650

Net interest income
70,760

 
—

 
70,760

Provision for loan and lease losses
4,037

 
—

 
4,037

Noninterest income
60,650

 
—

 
60,650

Noninterest expense
118,233

 
(335
)
 
117,898

Income before income taxes
9,140

 
335

 
9,475

Income tax expense
262

 
365

 
627

Net income
8,878

 
(30
)
 
8,848

Preferred stock dividends
1,820

 
—

 
1,820

Net income available for common stockholders
$
7,058

 
$
(30
)
 
$
7,028

Basic earnings per total common share
$
0.30

 
$
—

 
$
0.30

Diluted earnings per total common share
$
0.30

 
$
—

 
$
0.30


BANC OF CALIFORNIA, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
 
Six Months Ended June 30, 2014
 
As Previously Reported
 
Effect of Change in Accounting Principle
 
As Adjusted
 
(In thousands)
Cash flow from operating activities
 
 
 
 

Net income
$
8,878

 
$
(30
)
 
$
8,848

Total adjustment in net income
(469,261
)
 
30

 
(469,231
)
Net cash used in operating activities
(460,383
)
 
—

 
(460,383
)
Cash flow from investing activities
 
 
 
 
 
Net cash used in investing activities
(134,866
)
 
—

 
(134,866
)
Cash flow from financing activities
 
 
 
 
 
Net cash provided by financing activities
743,182

 
—

 
743,182

Net increase in cash and cash equivalents
147,933

 
—

 
147,933

Cash and cash equivalents at beginning of period
110,118

 
 
 
110,118

Cash and cash equivalents at end of period
$
258,051

 
$
—

 
$
258,051