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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 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 Statement of Financial Condition as of December 31, 2014, and Consolidated Statements of Operations and Cash Flows for the periods indicated:
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 September 30, 2014
 
As Previously Reported
 
Effect of Change in Accounting Principle
 
As Adjusted
 
(In thousands, except per share data)
Interest and dividend income
$
46,649

 
$
—

 
$
46,649

Interest expense
8,463

 
—

 
8,463

Net interest income
38,186

 
—

 
38,186

Provision for loan and lease losses
2,780

 
—

 
2,780

Noninterest income
44,098

 
—

 
44,098

Noninterest expense
67,557

 
(203
)
 
67,354

Income before income taxes
11,947

 
203

 
12,150

Income tax expense
721

 
182

 
903

Net income
11,226

 
21

 
11,247

Preferred stock dividends
910

 
—

 
910

Net income available for common stockholders
$
10,316

 
$
21

 
$
10,337

Basic earnings per total common share
$
0.31

 
$
—

 
$
0.31

Diluted earnings per total common share
$
0.30

 
$
0.01

 
$
0.31


BANC OF CALIFORNIA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 
Nine Months Ended September 30, 2014
 
As Previously Reported
 
Effect of Change in Accounting Principle
 
As Adjusted
 
(In thousands, except per share data)
Interest and dividend income
$
133,059

 
$
—

 
$
133,059

Interest expense
24,113

 
—

 
24,113

Net interest income
108,946

 
—

 
108,946

Provision for loan and lease losses
6,817

 
—

 
6,817

Noninterest income
104,748

 
—

 
104,748

Noninterest expense
185,790

 
(538
)
 
185,252

Income before income taxes
21,087

 
538

 
21,625

Income tax expense
983

 
547

 
1,530

Net income
20,104

 
(9
)
 
20,095

Preferred stock dividends
2,730

 
—

 
2,730

Net income available for common stockholders
$
17,374

 
$
(9
)
 
$
17,365

Basic earnings per total common share
$
0.64

 
$
—

 
$
0.64

Diluted earnings per total common share
$
0.63

 
$
—

 
$
0.63


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

Net income
$
20,104

 
$
(9
)
 
$
20,095

Total adjustment in net income
(561,149
)
 
9

 
(561,140
)
Net cash used in operating activities
(541,045
)
 
—

 
(541,045
)
Cash flow from investing activities
 
 
 
 
 
Net cash used in investing activities
(259,754
)
 
—

 
(259,754
)
Cash flow from financing activities
 
 
 
 
 
Net cash provided by financing activities
875,666

 
—

 
875,666

Net increase in cash and cash equivalents
74,867

 
—

 
74,867

Cash and cash equivalents at beginning of period
110,118

 
 
 
110,118

Cash and cash equivalents at end of period
$
184,985

 
$
—

 
$
184,985