EX-99.2 3 investorpresentation_2q2.htm EX-99.2
Investor Presentation Second Quarter 2025 Results Draft v4.5 1/21/24

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 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 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 l imited to: (i) changes in general economic conditions, either nationally or in our market areas, including the impact of 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) the costs and effects of litigation; (ix) 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; (x) 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; (xi) 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; (xii) the risk that our enterprise risk management framework may not be effective in mitigating risk and reducing the potential for losses; (xiii) 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; (xiv) failures or security breaches with respect to the network, applications, vendors and computer systems on which we depend, including due to cybersecurity threats; (xv) our ability to attract and retain key members of our senior management team; (xvi) the effects of climate change, 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 on our business; (xvii) 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; (xviii) the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; (xix) 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; (xx) the risk that we may incur significant losses on future asset sales or may not be able to execute anticipated asset sales; and (xxi) 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, 2024 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, core loan portfolio growth, 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. Second Quarter 2025 Earnings | 2

2Q25 adjusted EPS(1) of $0.31 up 19% QoQ and 9% annualized total loan growth 1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. 2. Represents core loans excluding HFS LOCOM mark in 2Q25 and does not include HFS loans in 1Q25. Core loans defined as total loans less discontinued areas. Reference page 13 for details. 3. Core deposits defined as total deposits less brokered CDs. Reference page 11 for details. 4. Expected gross proceeds adjusted for FAS 91 and provision impacts.. Financial Highlights EPS Reported EPS of $0.12 Adjusted EPS(1) of $0.31 up over 2.5x YoY NIM 3.10%, up 2bps QoQ and 30 bps YoY Strategic Action Selling ~$507mm of CRE loans with proceeds net of reserve release(4) of 95% Credit Quality NPL, Classified and Special Mention ratios down 19bps, 46bps and 115bps Loan Growth Total loans up 9% annualized, core loans up ~12%(1)(2) Deposits Core deposits(1)(3) stable QoQ Shareholder Value Repurchased $150mm of common shares (6.8% of shares) YTD at VWAP of $13.05 Capital TBVPS(1): $16.46, up 2% QoQ CET 1 ratio: 9.92% Second Quarter 2025 Earnings | 3 Change 2Q25 1Q25 2Q24 QoQ D YoY D Operating results PTPP(1) $87.0mm $82.4mm $55.6mm 5.6% 56.3% EPS $0.12 $0.26 $0.12 -$0.14 $0.00 Adj. EPS(1) $0.31 $0.26 $0.12 $0.05 $0.19 ROAA 0.34% 0.65% 0.34% -31bps 0 bps Adj. ROAA(1) 0.69% 0.65% 0.34% 4bps 35bps ROATCE(1) 3.70% 7.56% 4.42% -386bps -72bps Adj. ROATCE(1) 8.34% 7.56% 4.42% 78bps 392bps NIM 3.10% 3.08% 2.80% 2bps 30bps Capital TBVPS(1) $16.46 $16.12 $15.07 $0.34 $1.39 CET 1 capital ratio 9.92% 10.45% 10.27% -0.53% -0.35% Credit ACL ratio 1.07% 1.10% 1.19% -0.03% -0.12% Strategic sales of CRE loans drive improved credit quality metrics and further positions balance sheet to grow high quality sustainable earnings

Second Quarter 2025 Earnings | 4 0.37% 0.69% 1Q24 2Q25 +0.32% +65% Adjusted ROAA(3)Adjusted EPS(3) Core Loans(1) $23.9B +7.5% Cost of Funds 2.42% -60 bps NIM 3.10% +44 bps Adjusted NIE / Assets(2) 1.89% -62 bps Cost of Deposits 2.13% -53 bps Note: Growth rates represent variance from 1Q24 to 2Q25 except Adjusted NIE / Assets which represents variance from 4Q23 to 2Q25 Adjusted PTPP(3) 1Q24 2Q25 $57.2mm $87.0mm +40% +52% $0.15 $0.31 1Q24 2Q25 +$0.16 +79%CAGR Our strong execution has led to robust growth across core earnings drivers . . . Profitability and Growth Metrics since 1Q24 4.92% 8.34% 1Q24 2Q25 +3.42% +53% Adjusted ROATCE(3) 1. Adjusted to exclude impact from loan sales. Denotes a non-GAAP measure, see “Non-GAAP Reconciliation” slides in Appendix. 2. Adjusted to exclude impact from acquisition, integration and reorganization costs in certain periods and customer related expenses. 4Q23 $283.6 million normalized expenses adjusted to include combined company expenses for a full quarter, includes FDIC Special Assessment, and adjusts incentive compensation to target. Denotes a non-GAAP measure, see “Non-GAAP Reconciliation” slides in Appendix. 3. Adjusted to exclude impact from acquisition, integration and reorganization costs in certain periods. Denotes a non-GAAP measure, see “Non-GAAP Reconciliation” slides in Appendix. . . . translating into meaningful profitability expansion, underscoring the effectiveness of our strategy

1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. 2. Expected gross proceeds adjusted for FAS 91 and provision impacts. 3. 23.1% tax rate used for calculation. 2Q25 Adjustments to EPS 2Q25 results were adjusted for non-recurring items which impacted EPS by ($0.19) Second Quarter 2025 Earnings | 5 ❖ 2Q25 EPS of $0.12. Adjusted EPS(1) of $0.31 excluding impacts of loan sale actions and non-cash tax charge ❖ Loan sales – opportunistically engaged in process to sell ~$506.7mm of CRE loans with proceeds net of reserve release(2) of ~95% ❖ Results in pre-tax loss of ($26.3mm) recorded in provision expense; ($0.13) per share ❖ Executed $30.4mm of loan sales in 2Q25 and moved $476.2mm of loans to held for sale ❖~$243mm of loan sales are expected to close in 3Q25 ❖Remaining ~$233mm of loans expected to be sold over next several quarters ❖Taxes – primarily change in CA tax apportionment methodology that lowers our net tax rate ❖ Impact of lower tax rate on our net deferred tax asset (DTA) position results in one-time non-cash tax charge ❖ Change positively impacts our tax rate going forward and retrospective to the beginning of 2025 ❖ Tax rate expected to decline by ~1% HIGHLIGHTS Net P&L impact EPS Impact Reported $18.4 $0.12 Adjustments: Provision from credit losses Net loss on loan sales (3) $20.2 $0.13 Taxes Income tax related adjustment $9.8 $0.06 Total Adjustments $30.0 $0.19 Adjusted $48.4 $0.31 (1)

1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. Strong PTPP(1) growth of 6% QoQ and 56% YoY driven by higher NII, NIM expansion and continued expense discipline Income Statement ($ in millions) 2Q25 1Q25 2Q24 Total interest income $420.5 $406.7 $462.6 Total interest expense 180.3 174.3 233.1 Net interest income 240.2 232.4 229.5 Other noninterest income 32.6 33.4 28.7 Gain on sales of securities and loans 0.0 0.2 1.1 Total noninterest income 32.6 33.7 29.8 Total revenue 272.8 266.0 259.3 Operating expense 185.9 183.7 216.3 Acquisition-related costs 0.0 0.0 (12.7) Total noninterest expense 185.9 183.7 203.6 PTPP income(1) 87.0 82.4 55.6 Provision for credit losses 39.1 9.3 11.0 EBIT 47.9 73.1 44.6 Income tax expense 19.5 19.5 14.3 Net earnings 28.4 53.6 30.3 Preferred stock dividends 9.9 9.9 9.9 Net earnings available to common and equivalent stockholders $18.4 $43.6 $20.4 Second Quarter 2025 Earnings | 6 Key Income Statement Metrics 2Q25 1Q25 2Q24 Adj. EPS(1) $0.31 $0.26 $0.12 Adj. ROAA(1) 0.69% 0.65% 0.34% Adj. ROATCE(1) 8.34% 7.56% 4.42% Net interest margin 3.10% 3.08% 2.80% NIE / average assets 2.21% 2.24% 2.29% Adj. NIE / average assets(1) 1.89% 1.90% 2.06% Efficiency ratio(1) 65.5% 66.4% 80.2% Adj. efficiency ratio(1) 61.8% 62.4% 77.3% Average loan yield 5.93% 5.90% 6.18% Average interest-earning assets yield 5.42% 5.39% 5.65% Average total cost of funds 2.42% 2.42% 2.95% Average total cost of deposits 2.13% 2.12% 2.60% 1Q25 2Q25 3.08% 3.10% 1Q25 2Q25 2.42% 2.42% 0 bps -32 bps 5.39% 5.42% 1Q25 2Q25 -27 bps + +3 Average interest-earning assets yield Average cost of funds Net interest margin

Balance Sheet 1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. 2. Total funding defined as total deposits plus borrowings. 3. Wholesale funding defined as borrowings plus brokered time deposits. Achieved strong loan growth while increasing TBVPS(1) and maintaining healthy liquidity position ($ in millions) 2Q25 1Q25 2Q24 Cash and cash equivalents $2,354 $2,344 $2,699 Investment securities 4,725 4,801 4,673 Loans held for sale 466 26 1,935 Loans and leases HFI 24,246 24,127 23,229 Allowance for loan and lease losses (229) (235) (248) Goodwill and intangibles 333 340 365 Deferred tax asset, net 692 702 739 Other assets 1,665 1,675 1,852 Total assets $34,250 $33,780 $35,244 Noninterest-bearing deposits $7,441 $7,594 $7,825 Interest-bearing deposits 20,087 19,599 20,979 Total deposits 27,528 27,193 28,804 Borrowings 1,917 1,671 1,441 Subordinated debt 949 945 939 Other liabilities 429 449 651 Total liabilities excluding deposits 3,295 3,065 3,032 Total stockholders’ equity 3,427 3,522 3,408 Total liabilities and stockholders’ equity $34,250 $33,780 $35,244 Key Balance Sheet Metrics 2Q25 1Q25 2Q24 Average interest-earning assets $31,097 $30,611 $32,945 CET 1 ratio 9.92% 10.45% 10.27% Tangible common equity ratio(1) 7.65% 8.02% 7.30% Tangible book value per share(1) $16.46 $16.12 $15.07 Cash / assets 6.9% 6.9% 7.7% Cash + securities / assets 20.7% 21.2% 20.9% Loans / deposits 89.8% 88.8% 87.4% Noninterest-bearing deposits / total deposits 27.0% 27.9% 27.2% Deposits / total funding(2) 93.5% 94.2% 95.2% Total brokered deposits / total funding(2) 9.8% 9.2% 14.8% Wholesale funding / assets(3) 12.3% 10.9% 15.5% ACL ratio 1.07% 1.10% 1.19% Second Quarter 2025 Earnings | 7

Net Interest Income (NII) ($mm) and Net Interest Margin (NIM) (%) Impact to NII ($mm) from cumulative change in yields, rates and mix 1Q25 +$16.2 Loans -$0.2 Securities -$1.6 Borrowings -$2.1 Cash / Other EA Deposits 2Q25 $232.4 -$4.4 $240.2 2.80% $229.5 2Q24 2.93% $232.2 3Q24 3.04% $235.3 4Q24 3.08% $232.4 1Q25 3.10% $240.2 2Q25 Net interest income up 3% QoQ, driven by interest income from strong loan growth Net Interest Income and Net Interest Margin NII increased $7.9mm, or 3.4% QoQ Second Quarter 2025 Earnings | 8 Strong loan growth drove mix shift to higher percentage of interest-bearing depositsStrong growth in higher yielding C&I loan categories NIM increased 30bps YoY

Note: Other income includes revenue from BOLI, warrants, gain/loss on termination of leases, and other miscellaneous income. Noninterest Income 2Q25 noninterest income in line with normal run-rate Second Quarter 2025 Earnings | 9 HIGHLIGHTS ❖Noninterest income of $32.6mm was down 3% QoQ due primarily to variance in the fair values of items requiring MTM accounting ❖ CRA equity investments declined $2.8mm QoQ, which is included in Dividends & Gains (Losses) on Equity Investments ❖ CLN declined $1.2mm QoQ, which is included in Other Income ❖Warrant income from Venture Banking increased $1.5mm, which is included in Other Income ❖Normal run-rate for noninterest income of $10mm-$12mm per month ($ in millions) 2Q25 1Q25 2Q24 Leased Equipment Income $10.2 $10.8 $11.5 Commissions and Fees 9.6 10.0 8.6 Service Charges on Deposits 4.5 4.5 4.5 Dividends & Gains (Losses) on Equity Investments (0.1) 2.3 1.2 Other Income 8.4 6.0 4.0 Total Noninterest Income $32.6 $33.7 $29.8

2.43% 2.27% 2.16% 2.24% 2.21% 2.06% 1.87% 1.79% 1.90% 1.89% 2Q24 3Q24 4Q24 1Q25 2Q25 Adjusted Noninterest Expense / Average Assets Ratio Adjusted Noninterest Expense Excluding Customer Related Expenses / Average Assets Ratio Adjusted Noninterest Expense / Average Assets Ratio(1) 1. Excludes acquisition, integration and reorganization costs. Denotes a non-GAAP measure, see “Non-GAAP Reconciliation” slides in Appendix. 2. Denotes a non-GAAP measure, see “non-GAAP Reconciliation” slides in Appendix. Noninterest Expense 2Q25 expenses below target range driven by disciplined expense management 80.2% 68.0% 66.0% 66.4% 65.5%77.3% 63.5% 61.3% 62.4% 61.8% 2Q24 3Q24 4Q24 1Q25 2Q25 Efficiency Ratio(2) Adjusted Efficiency Ratio Excluding Customer Related Expenses Adjusted Efficiency Ratio(2) Second Quarter 2025 Earnings | 10 HIGHLIGHTS ❖ Increase in 2Q25 compensation expense largely driven by higher 1Q25 incentive and equity compensation reversals related to staff exits ❖ Lower IT and data processing expense and increased professional services expense variances largely due to non-recurring items ❖ 1Q25 insurance and assessments expense included a $2.7mm reversal for 4Q24 related FDIC assessments ($ in millions) 2Q25 1Q25 2Q24 Compensation $88.4 $86.4 $85.9 Occupancy 15.5 15.0 17.5 IT and data processing 13.1 15.1 15.5 Professional services 6.4 4.5 5.2 Insurance and assessments 9.4 7.3 26.4 Intangible asset amortization 7.2 7.2 8.5 Leased equipment depreciation 6.7 6.7 7.5 Loan expense 4.1 2.9 4.3 Acquisition, integration and reorganization costs 0.0 0.0 (12.7) Other expense 8.7 10.7 13.1 Customer related expense 26.6 27.8 32.4 Total noninterest expense $185.9 $183.7 $203.6 Adjusted noninterest expense (1) $185.9 $183.7 $216.3 Adjusted noninterest expense excluding customer related expense (1) $159.3 $155.9 $183.9

Deposits Core deposit(1) balances and cost of deposits remained stable 5.33% 5.26% 4.65% 4.33% 4.33% 2.60% 2.54% 2.26% 2.12% 2.13% Average Fed Funds Rate Average Total Cost of Deposits 27.2% 29.1% 28.4% 27.9% 27.0% 25.4% 28.1% 28.0% 28.5% 29.0% 23.9% 26.2% 26.8% 27.1% 26.5% 14.0% 7.4% 7.6% 7.3% 8.4% 9.6% 9.1% 9.2% 9.2% 9.1% 2Q24 3Q24 4Q24 1Q25 2Q25 CDs Brokered CDs Money Market & Savings Interest-bearing Checking Noninterest-bearing Checking 1. Denotes a non-GAAP measure, see “non-GAAP Reconciliation” slides in Appendix. 2. Costs do not include ECR expenses related to HOA deposits. 3. Includes brokered CDs. Second Quarter 2025 Earnings | 11 ($ in millions) 2Q25 1Q25 2Q24 Noninterest-bearing Checking $7,441 $7,594 $7,825 Checking 7,974 7,747 7,310 MMDA 5,375 5,368 4,837 Savings 1,933 1,999 2,040 Non-Brokered CDs 2,493 2,491 2,758 Core Deposits (1) $25,216 $25,198 $24,770 Brokered CDs 2,312 1,995 4,034 Total Deposits $27,528 $27,193 $28,804 Average Noninterest-bearing Checking 7,584 7,715 7,882 Average NIB Checking / Average Deposits 27.8% 28.7% 27.4% Deposits By Line of Business ($mm) 2Q25 Balance 2Q25 Cost 1Q25 Balance 1Q25 Cost Community Banking $14,457 1.72% $14,687 1.78% Venture 5,722 2.68% 5,714 2.75% Specialty Banking (includes HOA)(2) 4,021 0.79% 3,951 0.83% Corporate and Other Institutional(3) 3,329 3.89% 2,842 4.37% Total Deposits $27,528 2.13% $27,193 2.12% ❖NIB decline QoQ driven by 2% decline in average account balances ❖Total cost of deposits driven by mix shift towards IB deposits (up 2.5%), offset by lower total IB deposit rates (down 2bps)

650 2,390 2,929 3,569 $107.3 1Q24 1,288 $257.8 2Q24 1,889 $382.6 3Q24 $439.2 4Q24 $537.8 1Q25 $643.2 2Q25 Cumulative New NIB Business Deposits Accounts Cumulative New NIB Business Deposits ($ millions) NIB Deposit Growth Remains a Key Priority Steady growth continuing in new NIB business deposit relationships and balances(1) 1. Includes new NIB deposits from relationships opened over the last two years from the quarter referenced. Second Quarter 2025 Earnings | 12

2Q25 1Q25 2Q25 1Q25 Variance from Loan Sales (2) Core Variance Total Variance % of Total Loans 2Q25 Wtd. Avg. Rate 2Q25 NPL % 2Q25 DQ % 2Q25 ACL Coverage Ratio ACL Coverage Ratio Multifamily $6,281 $6,216 ($23) $88 $65 25.9% 4.2% 0.36% 0.35% $41 0.66% $38 0.61% Other CRE 3,746 3,859 (182) 69 (114) 15.4% 5.3% 1.49% 1.14% 88 2.35% 88 2.28% Residential / Consumer 3,180 2,781 - 399 399 13.1% 4.2% 0.78% 1.81% 5 0.16% 3 0.13% Real Estate Construction 2,302 2,861 (302) (257) (559) 9.5% 6.0% 0.00% 0.00% 10 0.44% 18 0.63% C&I 1,773 1,884 - (112) (112) 7.3% 6.7% 0.22% 0.05% 29 1.64% 29 1.55% Warehouse 1,610 1,601 - 9 9 6.6% 7.4% 0.00% 0.00% 3 0.21% 3 0.20% Fund Finance 1,194 956 - 238 238 4.9% 7.4% 0.00% 0.00% 0 0.04% 0 0.02% Lender Finance 1,173 931 - 242 242 4.8% 7.8% 0.00% 0.00% 4 0.35% 3 0.30% Venture Lending (3) 808 777 - 31 31 3.3% 7.8% 0.00% 0.00% 59 7.26% 63 8.05% SBA 700 715 - (16) (16) 2.9% 6.7% 6.33% 1.44% 5 0.66% 5 0.64% Equipment Lending 645 626 - 19 19 2.7% 6.0% 0.15% 0.03% 2 0.33% 2 0.27% Core Loan Portfolio $23,412 $23,208 ($507) $710 $204 96.6% 5.6% 0.65% 0.57% $247 1.05% $252 1.08%0 #DIV/0! #DIV/0! Premium Finance $473 $518 $ - ($44) ($44) 2.0% 3.4% 0.00% 0.00% $0 0.08% $0 0.08% Student 286 298 - (12) (12) 1.2% 4.3% 0.21% 0.99% 11 3.99% 12 4.05% Civic 75 103 - (28) (28) 0.3% 7.0% 19.81% 17.88% 0 0.09% 0 0.32% Discontinued Areas $834 $918 $ - ($84) ($84) 3.4% 4.0% 1.85% 1.94% $12 1.42% $13 1.39% Total Loans HFI $24,246 $24,127 ($507) $626 $119 100.0% 5.5% 0.69% 0.62% $259 1.07% $265 1.10% Loans Held for Sale (HFS) 466 26 441 (1) 440 Total Loans $24,711 $24,152 ($65) $625 $559 Operating leases 289 295 (6) (6) Total Loans and leases $25,000 $24,447 $553 Loan Segment ($ in millions) Diversified Loan Portfolio Core loan portfolio has strong credit quality with appropriate reserve levels for low loan loss categories Note: Wtd. Avg. Rate excludes accretion of net deferred loan fees and net loan purchase discounts. 1. Represents core loans excluding HFS LOCOM mark in 2Q25 as a result of transfer of loans to HFS and does not include loans HFS in 1Q25. Core loans defined as total loans less discontinued areas. Denotes a non-GAAP measure, see “Non-GAAP Reconciliation” slides in Appendix. 2. Variance from Loan Sales in HFI section represents amortized cost of loans. Variance from Loan Sales in HFS section represents the loans transferred from HFI net of loss on sale, deferred fees and other balance adjustments. 3. Venture lending includes technology and life science lending. Core loan portfolio(1) grew ~12% annualized, driven by higher yielding C&I loan categories Second Quarter 2025 Earnings | 13

$1,076 $832 $659 $803 $1,257 $747 $1,063 $867 $990 $826 $1,908 $1,462 $2,004 $1,931 $1,816 7.80% 8.29% 7.00% 7.20% 7.29% 6.18% 6.18% 5.90% 5.93% 6.01% Rate on Production Total Loan Yield ($ in millions) 1. 1Q25 loan activity data has been adjusted to reflect more precise information with no impact to the Net Change or the Loan Production for the quarter. 2. Includes charge-offs, transfers to foreclosed assets, loan sales, and transfers to HFS. Loan Activity Strong loan production of $1.2B and increase in production coupon rates Rate on production reflects growth in lender finance, fund finance and SFR Loan yield increase QoQ due to mix shift in higher yield loan segments Second Quarter 2025 Earnings | 14 $382 $1,271 $700 $1,082 $937 $1,353 $924 $1,371 $1,177 $1,282 $1,654 $1,781 $2,290 $2,294 $2,459 2Q24 3Q24 4Q24 1Q25(1) 2Q25 $698 $852 $830 $1,197 $997 Loan Production Line Utilization Payoffs PaydownsUnfunded New Commitments ($ 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 2Q25 $24,127 $2,459 $1,816 $643 ($524) $24,246 5.93% 7.29% 64.8% 1Q25 23,782 2,294 1,931 364 (19) 24,127 5.90% 7.20% 63.6% 4Q24 23,528 2,290 2,004 286 (32) 23,782 6.01% 7.00% 62.0% 3Q24 23,229 1,781 1,462 320 (21) 23,528 6.18% 8.29% 60.1% 2Q24 25,473 1,654 1,908 (255) (1,989) 23,229 6.18% 7.80% 58.5% (1) (1)

Asset Quality Ratios and Trends ❖ Credit quality metrics improved substantially QoQ, driven primarily by sale process of ~$507mm of CRE loans with proceeds net of reserve release(1) of ~95% ❖ Many of the loans being sold have sufficient collateral values but have attributes that drive credit migration ❖ Risk rating changes, loan payoffs and balance changes also contributed to improved credit quality metrics Special Mention Loans / Total Loans (NPLs) ($mm) Delinquent Loans / Total Loans ($mm) Classified Loans / Total Loans ($mm) $311.3 $320.1 $275.3 $281.9 $172.1 $206.2 $37.2 2Q24 $233.9 $264.4 $35.4 3Q24 $267.1 $266.1 $30.3 4Q24 $276.6 $466.5 $21.6 1Q25 $175.1 $465.7 $15.8 2Q25 $415.5 $533.6 $563.5 $764.7 $656.6 1.79% 2.27% 2.37% 3.17% 2.71% Classified Loans / Total Loans HFI CRE Loans (excluding MF and Construction) Other Core Loans(2) Discontinued Loans $27.0 $37.8 $19.0 2Q24 $43.1 $48.5 $33.4 3Q24 $41.8 $93.7 $44.7 4Q24 $78.9 $84.8 $36.9 1Q25 $42.7 $90.5 $16.2 2Q25 $83.8 $125.0 $180.2 $200.6 $149.5 0.36% 0.53% 0.76% 0.83% 0.62% CRE Loans (excluding MF and Construction) Other Core Loans(2) Discontinued Loans Delinquent Loans / Total Loans HFI 1. Expected gross proceeds adjusted for FAS 91 and provision impacts.. 2. Reference Page 13 for Core Loan Portfolio. Other Core Loans comprises Core Loan Portfolio less CRE loans (excluding MF and Construction). Strategic sales of ~$507mm of CRE loans primarily drove improvements to credit quality metrics HIGHLIGHTS Second Quarter 2025 Earnings | 15 Nonperforming Loans / Total Loans (NPLs) ($mm) $46.1 $53.5 $17.5 2Q24 $55.8 $79.3 $33.3 3Q24 $63.5 $96.8 $29.2 4Q24 $90.8 $101.4 $21.3 1Q25 $55.7 $96.4 $15.4 2Q25 $117.1 $168.3 $189.6 $213.5 $167.5 CRE Loans (excluding MF and Construction) Other Core Loans(2) Discontinued Loans 0.50% 0.72% 0.80% 0.88% 0.69% NPLs to Loans/leases HFI $248.0 $404.5 $28.1 2Q24 $305.9 $383.5 $22.4 3Q24 $343.9 $732.0 $21.5 4Q24 $297.8 $633.0 $6.2 1Q25 $201.0 $454.5 $6.1 2Q25 $680.7 $711.9 $1,097.3 $937.0 $661.6 CRE Loans (excluding MF and Construction) Other Core Loans(2) Discontinued Loans 2.73% 3.88% 4.61% 3.03%2.93% Special Mention Loans / Total Loans HFI

❖ ACL decreased $6.0mm driven by: ❖ NCOs of $44.2mm include $36.9mm related to loan sales / transfers to HFS ❖ Provision of $38.2mm includes $26.3mm related to loan sales / transfers to HFS ❖ Core provision for credit losses of $12.3mm • Increased reserves to reflect updated economic forecast and added qualitative reserves related to office loans ❖ ACL coverage ratio at 1.07% ❖ Economic coverage ratio remains healthy at 1.61%(1) ($ in millions) 2Q25 net charge-offs detail $264.6 ($44.2) $38.2 ACL 1Q25 Net Charge-Offs Provision for Loans HFI ACL 2Q25 Allowance for Credit Losses – Loans ACL coverage ratio at appropriate level under CECL given portfolio mix and loss rates; additional credit protection enhances total economic coverage 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 measure, see "Non-GAAP Reconciliation” slides in Appendix. 1.61% Economic coverage ratio(1) $258.6 Second Quarter 2025 Earnings | 16 $275.3 1.19% 1.83% 2Q24 $281.9 1.20% 3Q24 $268.4 1.13% 1.72% 4Q24 $264.6 1.10% 1.66% 1Q25 $258.6 1.07% 1.61% 2Q25 1.82% ACL ACL / Total Loans HFI Economic Coverage Ratio(1) ACL / total loans ($mm) 2Q25 ACL walk Net Charge-offs ($ in millions) Charge-offs Recoveries Net Charge- offs % of Total Loans (annualized) Civic Loans $0.4 ($0.0) $0.4 0.01% Commercial Loans 8.8 (2.3) 6.5 0.11% Real Estate Mortgage 15.5 (0.3) 15.2 0.25% Real Estate Construction 21.5 - 21.5 0.35% Consumer Loans: Student Loans 0.7 (0.1) 0.6 0.01% Consumer Loans: excluding Student Loans 0.1 (0.1) (0.0) 0.00% Total $46.9 ($2.7) $44.2 0.72% Charge-offs related to loan sale process ($36.9) $ - ($36.9) -0.60% Total adjusted for loan sale process $10.0 ($2.7) $7.3 0.12% 1.10% 1.07%

Adjusted ACL ratio(1) is significantly higher when adjusting for lower loss loan categories Key Allowance for Credit Losses Ratios Adjusted ACL Ratio(1) Composition of Lower Loss Loan Categories ❖ Recent loan growth is in segments with relatively low expected credit losses including warehouse, lender finance and fund finance; resulted in lower ACL coverage under CECL ❖ Adjusted ACL Ratio(1) at 1.44%; Economic Coverage Ratio(1) at 1.61%, which includes $112.9mm of loss coverage from credit-linked notes on SFR ❖ Lower loss loan categories as a percent of total loans increased to 29% at 2Q25 from 20% at 2Q24 strengthening the credit profile of the bank 1.07% 1.20% 1.29% 1.44% 2Q25 ACL Ratio Adj. ACL Ratio Excluding Single Family Residential Loans Adj. ACL Ratio Excluding SFR Mortgage & Warehouse Loans Adj. ACL Ratio Excluding SFR Mort., Warehouse, Fund Finance and Lender Finance Loans HIGHLIGHTS 1. Adjusted ACL Ratio is adjusted for lower loss loan categories. Economic Coverage Ratio is adjusted for the impact of credit-linked notes and unearned credit mark from purchase accounting. Denotes a non-GAAP measure, see "Non-GAAP Reconciliation” slides in Appendix. Second Quarter 2025 Earnings | 17 Lower Loss Loan Categories ($ in millions) 2Q25 1Q25 2Q24 Residential $3,083 $2,684 $2,679 Warehouse 1,610 1,601 782 Fund Finance 1,194 956 645 Lender Finance 1,173 931 438 Total Lower Loss Loans $7,061 $6,172 $4,544 Total Loans HFI $24,246 $24,127 $23,229 Lower Loss Loans / Total Loans HFI 29.1% 25.6% 19.6%

Average Portfolio Balances & Yields(4) 1. Excludes FRB and FHLB stock. 2. AFS securities reflected at fair value; excludes $0.8mm loss reserve. 3. HTM securities reflected at amortized cost; excludes $0.7mm loss reserve. 4. Includes FRB and FHLB stock. Investment Securities Portfolio Maintaining diversified portfolio with stable balances and yields ❖ Average securities yield decreased 4bps QoQ due largely to repricing of floating rate securities ❖ Unrealized pre-tax loss on AFS securities of $233mm down $8mm QoQ driven primarily by a decrease in longer term interest rates ❖ Of the AFS securities portfolio, 74% is fixed rate, 16% is floating rate, and 10% is hybrid rate ❖ 2Q25 new investment yield of 5.0% ❖ ~14% of AFS securities portfolio will contractually paydown and reprice within 1 year and 24% within three years ❖ 77% of total securities are AAA rated and 15% AA rated HIGHLIGHTS $4.66 2.92% 2Q24 $4.67 2.98% 3Q24 $4.70 3.19% 4Q24 $4.73 3.24% 1Q25 $4.72 3.20% 2Q25 Average Balance ($ in billions) Yield Second Quarter 2025 Earnings | 18 Duration (yrs) Unrealized Unrealized 2Q25 1Q25 Variance 2Q25 Loss 2Q25 Loss 1Q25 AFS - Gov't & Agency $1,453 $1,497 ($44) 5.8 ($179) ($182) AFS - CLO's 228 243 (15) 0.0 0 (1) AFS - Corporate Bonds 264 263 1 1.1 (23) (26) AFS - Municipal Bonds 1 1 0 0.7 0 (0) AFS - Non-Agency Securitizations 301 330 (29) 3.8 (32) (33) AFS(2) $2,247 $2,334 ($87) 4.3 ($233) ($241) HTM - Gov't & Agency 635 633 2 5.5 (33) (40) HTM - Corporate Bonds 71 71 0 4.3 (11) (12) HTM - Municipal Bonds 1,254 1,252 2 8.5 (62) (60) HTM - Non-Agency Securitizations 358 357 1 5.2 (15) (20) HTM(3) $2,317 $2,312 $5 7.1 ($121) ($132) Total Securities $4,564 $4,646 ($82) 5.7 ($354) ($373) Security Type(1) ($ in millions)

9.92% 10.45% 10.27% 2Q25 1Q25 2Q24 7.65% 8.02% 7.30% 2Q25 1Q25 2Q24 CET 1 Ratio TCE Ratio(1) Note: 2Q25 regulatory capital ratios are preliminary. 1. Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides in Appendix. Capital Continue to grow TBVPS and maintain healthy capital levels after impact of common stock repurchases Repurchased 5.2% of outstanding shares in 2Q25 and 1.6% in 1Q25, which impacted CET 1 ratio by 43bps and 15bps, respectively Second Quarter 2025 Earnings | 19 2Q25 1Q25 2Q24 Regulatory Well- Capitalized Excess of Well- Capitalized Consolidated Company Total Risk-Based Ratio 16.32% 16.93% 16.57% 10.00% 6.32% Tier 1 Risk-Based Capital 12.30% 12.86% 12.62% 8.00% 4.30% Common Equity Tier 1 (CET 1) 9.92% 10.45% 10.27% 6.50% 3.42% Leverage Ratio 9.74% 10.19% 9.51% 5.00% 4.74% Tangible Common Equity (TCE) Ratio (1) 7.65% 8.02% 7.30% NA NA TBVPS (1) $16.46 $16.12 $15.07 NA NA

Second Quarter 2025 Earnings | 20 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. Interest Rate Sensitivity IRR position for 2025 remains largely neutral for NII sensitivity, however total earnings are liability sensitive when adjusting for ECR costs 2Q25 IRR position – NII impact ($B) ❖Gap between short-term (“ST”) liabilities and assets of $5.1B in 2Q compared to $5.0B at 1Q ❖When adjusted for deposit repricing betas and hedges, net interest income sensitivity is relatively neutral ❖The impact of ECR costs on rate-sensitive HOA deposits of $3.7B shifts this neutral interest rate sensitivity to liability sensitive for total earnings HIGHLIGHTS $14.5 $19.5 ST Assets ST Liabilities Asset / liability gap of ($5B) is largely neutral to NII when adjusting for deposits repricing betas & hedges 2Q25 IRR position – Total Earnings ($B) $14.5 $16.2 ST Assets ST Liabilities / Beta Adjusted + ECR ECR costs on HOA deposits when adjusted for repricing betas shifts IRR position to liability sensitive with a repricing gap at ($1.7B)

Second Quarter 2025 Earnings | 21 Loan Maturity and Repricing Summary 3.6% 3.7% 4.2% 5.8% 3.6% 4.1% 5.8% 3.9% Multifamily Loans – Maturities / Repricing $0.1 $0.7 $0.2 $1.6 $1.2 $0.7 $0.7 $1.2 <= 1 Year 1-2 Years 2-3 Years > 3 Years $1.4B $1.4B $0.9B $2.8B Fixed Rate Loans Maturity Hybrid Rate and Variable Loans Reset Hybrid & Variable Rate: Fixed Rate: Total Fixed Rate and Hybrid Loans – Maturities / Repricing $0.8 $1.0 $0.7 $1.4 $1.8 $1.4 $0.6 $6.3 <1 Year 1-2 Years 2-3 Years > 3 Years Hybrid Fixed $2.7B $2.3B $1.3B $7.8B 19% of fixed rate and hybrid loans will reprice / reset within one year at higher rates Total fixed rate and hybrid loans: $14.1B Total multifamily loans: $6.3B 43% 35% 22% 2Q25 Fixed ST Variable Hybrid+LT Variable Total Loan Composition WAC: 4.6% WAC: 7.4% WAC: 4.5% 46% are Hybrid with a current rate of 4.3% offering strong repricing upside 4.1% 4.8% 4.2%4.9%WAC: Note: Long Term (“LT”) Variable: Loans that reset or mature beyond one year. Weighted Average Coupon (“WAC”): Weighted average of the contractual interest rate. Loans maturing or repricing in 2H25 total $1.8B at a weighted average coupon of 5.0% Approximately $3.2B of low yielding multifamily loans will reprice or mature in next 2.5 years

Outlook as of 1Q25 earnings Current outlook Key factors Loans Deposits Net interest margin Noninterest expense (NIE) Balance sheet metrics Second Quarter 2025 Earnings | 22 ❖ Target NIM of 3.20%-3.30% for FY 2025 ❖ Assumes no further rate cuts in 2025 ❖ NIE average of $190mm- $195mm per qtr. ❖ Customer related expenses avg. of $27mm-$29mm per qtr. ❖ ECR expenses are rate dependent ❖ Wholesale funding ratio(1) 10%-12% ❖ Loan / deposits 85%-93% ❖ Evaluate opportunities to optimize balance sheet ❖ ROAA ~1.1%+ ❖ ROTCE ~13%+ ❖ Continue to make consistent, meaningful progress toward goals ❖ Timing will depend on continued execution of core strategy combined with the impact of the economic and interest rate environments ❖ Target mid single digit growth ❖ Driven by growth in commercial loans ❖ Cautious given uncertain economic conditions ❖ Target mid single digit growth ❖ Target NIB ratio >30% ❖ Broad based growth across our businesses 1. Wholesale funding defined as borrowings plus brokered time deposits. 2025 outlook remains largely unchanged with clarifications to reflect impact of funding accelerated loan growth 2025 outlook ❖ Unchanged ❖ Growth unchanged ❖ Clarified target NIB ratio 27%-30% ❖ Clarified target NIM of 3.20%- 3.30% by 4Q25 ❖ Unchanged ❖ Unchanged Future state financial targets remain unchanged

Supplemental Information

1. Represents VWAP of shares repurchased. 2. Common shares outstanding as of March 17, 2025. Share Repurchases Share Repurchase Activity 1Q25 2Q25 Total Repurchase Amount $38,545,698 $111,454,299 $150,000,000 Price Per Share(1) $14.36 $12.65 $13.05 Number of Shares Repurchased 2,684,823 8,809,814 11,494,637 Common Shares Outstanding(2) 169,083,588 169,083,588 169,083,588 % of Shares Repurchased 1.6% 5.2% 6.8% Second Quarter 2025 Earnings | 24 ❖$150mm remaining in share repurchase program which can be used towards common stock or preferred stock

❖ 74% of total CRE portfolio located in California ❖ Total CRE has a low weighted average LTV of 60% ❖ Other Property Types includes mobile homes, self storage, gas stations, special use, schools, places of worship and restaurants 7.3% 6.3% 4.6% 3.2% 1.7% 1.8% 5.3% Office Industrial Retail Hotel Health Facility Mixed Use Other Other CRE as % of Total CRE Total CRE is well diversified across multiple industries • Total CRE comprises 51% of total loans HFI and Other CRE comprises 15% of total loans HFI • 86% of office collateral located in California, 6% in Colorado and 8% in other states • Multifamily has a low average LTV and a strong DSCR coverage ratio of 1.3x • $507mm of loans sold / loans moved to HFS includes ~$302mm of Real Estate Construction loans, ~$182mm of Other CRE loans and ~$23mm of Multifamily loans Note: CRE excludes government guaranteed CRE collateralized SBA loans. 1. Represents most recent appraisal or weighted-average LTV at origination. CRE Portfolio High quality CRE portfolio has low weighted-average LTV and strong debt-service coverage ratio (DSCR) HIGHLIGHTS Second Quarter 2025 Earnings | 25 Property Type ($ in millions) Count 2Q25 1Q25 2Q25 % of Total CRE 2Q25 % of Total Loans HFI Avg Loan Size WA LTV(1) DSCR NPL % NPL $ Multifamily 1,309 $6,281 $6,216 51% 26% $4.8 60% 1.30 0.36% $22.6 Real Estate Construction 166 2,302 2,861 19% 9% 13.9 70% - 0.00% 0.0 Other CRE 1,057 3,746 3,859 30% 15% 3.5 55% 2.03 1.49% 55.7 Office 210 906 920 7% 4% 4.3 57% 2.07 1.93% 17.5 Industrial / Warehouse 342 772 796 6% 3% 2.3 53% 2.31 0.28% 2.1 Retail 177 571 698 5% 2% 3.2 53% 1.68 0.06% 0.3 Hotel 36 398 409 3% 2% 11.1 52% 1.68 7.32% 29.2 Mixed Use 42 227 190 2% 1% 5.4 52% 1.54 0.00% 0.0 Health Facility 36 214 212 2% 1% 6.0 56% 2.38 2.98% 6.4 Other Property Types 214 656 634 5% 3% 3.1 58% 2.22 0.02% 0.1 Total CRE 2,532 $12,329 $12,937 100% 51% $4.9 60% 1.57 0.63% $78.3

Adjusted Noninterest Expense Detail(1) ($mm) $32.4 $26.4 $71.5 $85.9 2Q24 $34.5 $12.7 $64.0 $85.6 3Q24 $31.7 $11.2 $61.9 $77.7 4Q24 $27.8 $7.3 $62.2 $86.4 1Q25 $26.6 $9.4 $61.5 $88.4 2Q25 $216.3 $196.7 $182.4 $183.7 $185.9 Compensation expense Other operating expenses Insurance and assessments Customer related expense Customer Related Expense ($mm) $27.7 $4.7 2Q24 $29.9 $4.6 3Q24 $27.4 $4.2 4Q24 $23.6 $4.1 1Q25 $21.9 $4.7 2Q25 $32.4 $34.5 $31.7 $27.8 $26.6 ECR Expense Other(2) 1. Excludes acquisition, integration and reorganization costs. Denotes a non-GAAP measure, see “Non-GAAP Reconciliation” slides in Appendix. 2. Other customer related expense includes deposit referral fees, armored car services, check printing expenses, and other miscellaneous expenses Customer Related Expense Lower ECR expense mostly driven by mix-shift into lower cost HOA deposits 2Q24 3Q24 4Q24 1Q25 2Q25 $3,812 $3,758 $3,730 $3,739 $3,728 Average HOA Deposits ($mm) ECR indexed to Fed Funds rate with high beta and will continue to fluctuate with Fed rate moves Substantially all HOA deposits have ECR expenses; average deposit rate (excluding ECR costs) for 2Q25 is 81bps Second Quarter 2025 Earnings | 26

Projects and Investments Expect total project and investment spend of $20mm in 2025, with $7-$8mm of planned expense in 2025 Project investment composition Revenue enhancing projects Back office and support projects Second Quarter 2025 Earnings | 27 30% 70% Revenue Enhancing Back Office and Support Projects $6.0mm $14.4mm 32% 41% 26% Infrastructure Optimization/Scalability Regulatory/Compliance 44% 13% 43% Sales enablement Business specific Payments $2.6mm $2.6mm $6.0mm $3.8mm $4.7mm $0.8mm

❖Uninsured and uncollateralized deposits of $7.6B, which represents ~27% of total deposits ❖Total primary and secondary liquidity was 2.0x uninsured and uncollateralized deposits Liquidity Maintaining high levels of primary and secondary liquidity as prudent risk management 1. Cash and cash equivalents figure presented as Bank only, excludes restricted cash. 2. Net of 8.2% haircut as of June 30, 2025. ($ in millions) 2Q25 Current Availability Utilization Capacity Primary Liquidity Cash and cash equivalents $2,183 AFS Securities (unpledged) 2,058 Total Primary Liquidity 4,241 Total Secondary Liquidity 10,571 2,269 12,840 Total Primary + Secondary Liquidity $14,812 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. Second Quarter 2025 Earnings | 28 (1) (2)

Experienced Management Team with Track Record of Success at Leading Institutions Alex Kweskin Chief Human Resources Officer 25+ years of Human Resources experience, previously held HR leadership roles at MUFG Union Bank and Wells Fargo Chris Blake Vice Chairman of the Bank 40+ years of banking experience, previously served as President & CEO, Community Bank Division, for PacWest Bancorp 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 banking experience, previously served as CCO of PacWest Bancorp and Director of Pacific Western Bank Ido Dotan General Counsel and Chief Administrative Officer Experienced in corporate securities, M&A, and structured finance. Previously served as EVP of Carrington Mortgage Holdings Olivia Lindsay Chief Risk Officer 20+ 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 Stan Ivie Head of Government and Regulatory Affairs Previously served as the Chief Risk Officer of PacWest Bancorp & the regional director for the FDIC’s San Francisco and Dallas Regions Michael Pierron Head of Payments 25+ years of technology, product and operations, previously served as Head of Operations at Flagstar Bank 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 Chris Baron President, Community Banking 30+ years banking experience. Previously served as President of Los Angeles Region for Pacific Western Bank Karen Hon Chief Accounting Officer 20+ years of finance & accounting experience, previously served as Chief Accounting Officer at Silicon Valley Bank Jared Wolff President 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 banking experience, previously served as EVP, CFO Wells Fargo Wholesale Banking Second Quarter 2025 Earnings | 29 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

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, 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, core loan portfolio growth, 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 and tangible equity is calculated by subtracting goodwill and other intangible assets from total assets. Tangible common equity is calculated by subtracting preferred stock, as applicable, from tangible 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 PTPP income is calculated by adding net interest income and adjusted noninterest income (adjusted total revenue) and subtracting adjusted noninterest expense. Adjusted noninterest expense is calculated by subtracting acquisition, integration and reorganization costs from total noninterest expense. Adjusted noninterest expense excluding customer related expenses is calculated by subtracting customer related expenses from adjusted 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 sale of securities). 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 sale of securities 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. Core loan portfolio is calculated as total loans held for investment less premium finance loans, student loans, and Civic loans. Core loan portfolio growth is calculated as the percentage difference between the adjusted 2Q25 core loan portfolio balance and the 1Q25 core loan portfolio balance. 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 32-41 provide reconciliations of the non-GAAP measures to financial measures defined by GAAP. Second Quarter 2025 Earnings | 31

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) 2Q25 1Q25 4Q24 3Q24 2Q24 Tangible Common Equity Ratio Total stockholders' equity $3,426,843 $3,521,656 $3,499,949 $3,496,198 $3,407,848 Less: preferred stock 498,516 498,516 498,516 498,516 498,516 Total common equity 2,928,327 3,023,140 3,001,433 2,997,682 2,909,332 Less: goodwill and intangible assets 333,451 340,458 347,465 357,332 364,819 Tangible common equity $2,594,876 $2,682,682 $2,653,968 $2,640,350 $2,544,513 Total assets 34,250,453 33,779,918 33,542,864 33,432,613 35,243,839 Less: goodwill and intangible assets 333,451 340,458 347,465 357,332 364,819 Tangible assets $33,917,002 $33,439,460 $33,195,399 $33,075,281 $34,879,020 Total stockholders' equity to total assets 10.01% 10.43% 10.43% 10.46% 9.67% Tangible common equity ratio(1) 7.65% 8.02% 7.99% 7.98% 7.30% Book value per common share(2) $18.58 $18.17 $17.78 $17.75 $17.23 Tangible book value per common share(3) $16.46 $16.12 $15.72 $15.63 $15.07 Common shares outstanding(4) 157,647,137 166,403,086 168,825,656 168,879,566 168,875,712 Second Quarter 2025 Earnings | 32

Non-GAAP Reconciliation 1. Effective tax rates of 23.12%, 25.30%, 24.76%, 27.61%, and 28.62%, used for the three months ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024,and June 30, 2024, respectively. 2. Annualized net earnings divided by average stockholders' equity. 3. Annualized adjusted net earnings available to common and equivalent stockholders for ROATCE divided by average tangible common equity. 4. Annualized adjusted net earnings available to common and equivalent stockholders for adjusted ROATCE divided by average tangible common equity. Second Quarter 2025 Earnings | 33 ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 Return on Average Tangible Common Equity ("ROATCE") Net earnings $28,385 $53,568 $56,919 $8,784 $30,333 Earnings before income taxes $73,061 $70,103 $11,514 $44,637 Add: Intangible asset amortization 7,160 7,770 8,485 8,484 Adjusted earnings before income used for ROATCE 80,221 77,873 19,999 53,121 Adjusted income tax expense (1) (20,296) (19,281) (5,522) (15,203) Adjustments: Intangible asset amortization 7,159 Tax impact of adjustment above (1,655) Adjustment to net earnings 5,504 Adjusted net earnings for ROATCE 33,889 59,925 58,592 14,477 37,918 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net earnings available to common and equivalent stockholders for ROATCE $23,942 $49,978 $48,645 $4,530 $27,971 Net earnings $28,385 $53,568 $56,919 $8,784 $30,333 Earnings before income taxes $73,061 $70,103 $11,514 $44,637 Add: Intangible asset amortization 7,160 7,770 8,485 8,484 Add: Loss on sale of securities NA NA 59,946 NA Less: Acquisition, integration, and reorganization costs NA NA (510) NA Adjusted earnings before income used for ROATCE 80,221 77,873 $79,435 $53,121 Adjusted income tax expense (1) (20,296) (19,281) (21,932) $(15,203) Adjustments: Intangible asset amortization 7,159 Provision for credit losses related to transfer of loans to held for sale 26,289 Total adjustments 33,448 Tax impact of adjustments above (7,733) Income tax related adjustments (1) 9,792 Adjustment to net earnings 35,507 Adjusted net earnings for adjusted ROATCE 63,892 59,925 58,592 57,503 37,918 Less: Preferred stock dividends 9,947 9,947 9,947 9,947 9,947 Adjusted net earnings available to common and equivalent stockholders for adjusted ROATCE $53,945 $49,978 $48,645 $47,556 $27,971 Average total stockholders' equity 3,430,143 3,524,181 3,486,164 3,452,575 3,395,350 Less: Average preferred stock 498,516 498,516 498,516 498,516 498,516 Less: Average goodwill and intangible assets 337,352 344,610 352,907 361,316 352,934 Average tangible common equity $2,594,275 $2,681,055 $2,634,741 $2,592,743 $2,543,900 Return on average equity (2) 3.32% 6.16% 6.50% 1.01% 3.59% Return on average tangible common equity (3) 3.70% 7.56% 7.35% 0.70% 4.42% Adjusted return on average tangible common equity (4) 8.34% 7.56% 7.35% 7.30% 4.42%

1. Effective tax rates of 23.12% 25.30%, 24.76%, 27.61%, and 28.62% used for the three months ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively. 2. Adjusted net earnings available to common and equivalent stockholders divided by weighted average common shares outstanding. 3. Annualized net earnings divided by average assets. 4. Annualized adjusted net earnings divided by average assets. Non-GAAP Reconciliation Second Quarter 2025 Earnings | 34 ($ in thousands, except per share amounts) 2Q25 1Q25 4Q24 3Q24 2Q24 Net earnings $28,385 $53,568 $56,919 $8,784 $30,333 Earnings before income taxes $73,061 $70,103 $11,514 $44,637 Add: Loss on sale of securities NA NA 59,946 NA Less: Acquisition, integration, and reorganization costs NA NA (510) NA Adjusted earnings before income taxes 73,061 70,103 70,950 44,637 Adjusted income tax expense(1) (19,493) (13,184) (19,589) (14,304) Adjustments: Provision for credit losses related to transfer of loans to held for sale 26,289 Tax impact of adjustment above(1) (6,078) Income tax related adjustments 9,792 Adjustment to net earnings 30,003 Adjusted net earnings 58,388 53,568 56,919 51,361 30,333 Less: Preferred stock dividends (9,947) (9,947) (9,947) (9,947) (9,947) Adjusted net earnings available to common and equivalent stockholders $48,441 $43,621 $46,972 $41,414 $20,386 Weighted average common shares outstanding 158,462 169,434 169,732 168,583 168,432 Diluted earnings (loss) per common share $0.12 $0.26 $0.28 ($0.01) $0.12 Adjusted diluted earnings per common share(2) $0.31 $0.26 $0.28 $0.25 $0.12 Average total assets $33,764,149 $33,308,385 $33,562,028 $34,426,185 $35,834,467 Return on average assets ("ROAA")(3) 0.34% 0.65% 0.67% 0.10% 0.34% Adjusted ROAA(4) 0.69% 0.65% 0.67% 0.59% 0.34% Adjusted Net Earnings

Non-GAAP Reconciliation ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 PTPP Income Net interest income $240,216 $232,364 $235,285 $232,175 $229,488 Add: Noninterest (loss) income 32,633 33,650 28,989 (15,452) 29,792 Total revenue 272,849 266,014 264,274 216,723 259,280 Less: Noninterest expense (185,869) (183,653) (181,370) (196,209) (203,643) Pre-tax, pre-provision ("PTPP") income $86,980 $82,361 $82,904 $20,514 $55,637 Second Quarter 2025 Earnings | 35

Non-GAAP Reconciliation 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. ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 Noninterest expense $185,869 $183,653 $181,370 $196,209 $203,643 Less: Intangible asset amortization (7,159) (7,160) (7,770) (8,485) (8,484) Less: Acquisition, integration, and reorganization costs NA NA 1,023 510 12,650 Noninterest expense used for efficiency ratio $178,710 $176,493 $174,623 $188,234 $207,809 Less: Customer related expense (26,577) (27,751) (31,672) (34,475) (32,405) Noninterest expense used for adjusted efficiency ratio $152,133 $148,742 $142,951 $153,759 $175,404 Total Revenue $272,849 $266,014 $264,274 $216,723 $259,280 Add: Loss on sale of securities NA NA 454 59,946 NA Total revenue used for efficiency ratio $272,849 $266,014 $264,728 $276,669 $259,280 #N/A #N/A #N/A #N/A #N/A Less: Customer related expense (26,577) (27,751) (31,672) (34,475) (32,405) Total revenue used for adjusted efficiency ratio $246,272 $238,263 $233,056 $242,194 $226,875 Noninterest expense to total revenue 68.12% 69.04% 68.63% 90.53% 78.54% Efficiency ratio(1) 65.50% 66.35% 65.96% 68.04% 80.15% Adjusted efficiency ratio(2) 61.77% 62.43% 61.34% 63.49% 77.31% Adjusted Efficiency Ratio Second Quarter 2025 Earnings | 36

Non-GAAP Reconciliation ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 Noninterest expense $185,869 $183,653 $181,370 $196,209 $203,643 Less: Acquisition, integration, and reorganization costs NA NA 1,023 510 12,650 Adjusted noninterest expense $185,869 $183,653 $182,393 $196,719 $216,293 Less: Customer related expense (26,577) (27,751) (31,672) (34,475) (32,405) Adjusted noninterest expense excluding customer related expense $159,292 $155,902 $150,721 $162,244 $183,888 Average assets $33,764,149 $33,308,385 $33,562,028 $34,426,185 $35,834,467 Noninterest expense to average total assets 2.21% 2.24% 2.15% 2.27% 2.29% Adjusted noninterest expense to average total assets 2.21% 2.24% 2.16% 2.27% 2.43% Adjusted noninterest expense excluding customer related expense to average total assets 1.89% 1.90% 1.79% 1.87% 2.06% Adjusted Noninterest Expense to Average Total Assets Second Quarter 2025 Earnings | 37

Non-GAAP Reconciliation Second Quarter 2025 Earnings | 38 ($ in thousands) 2Q25 1Q25 2Q24 Total Deposits $27,528 $27,193 $28,804 Less: Brokered CDs (2,312) (1,995) (4,034) Total Core Deposits $25,216 $25,198 $24,770 Core Deposits

Non-GAAP Reconciliation Second Quarter 2025 Earnings | 39 ($ in thousands) 2Q25 1Q25 Total Loans HFI $24,246 $24,127 Discontinued Area Loans Less: Premium Finance Loans (473) (518) Less: Student Loans (286) (298) Less: Civic Loans (75) (103) Total Discontinued Area Loans ($834) ($918) Total Core Loans $23,412 $23,208 Core Loans ($ in thousands) 2Q25 2Q25 Core Loan Portfolio Balance $23,412 Add: Loans moved to HFS through loan sale(1) 476 Adjusted 2Q25 Core Loan Portfolio Balance $23,888 1Q25 Core Loan Portfolio Balance $23,208 2Q25 Annualized Adjusted Core Loan Portfolio Growth 11.8% Core Loan Portfolio Growth 1. Represents core loans excluding HFS LOCOM mark.

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. Second Quarter 2025 Earnings | 40 ($ in thousands) 2Q25 1Q25 4Q24 3Q24 2Q24 Allowance for credit losses ("ACL") $258,565 $264,557 $268,431 $281,916 $275,333 Add: Unearned credit mark from purchase accounting (1) 19,199 20,870 22,473 24,678 26,982 Add: Credit-linked notes(2) 112,887 115,188 116,991 120,617 122,523 Adjusted allowance for credit losses $390,651 $400,616 $407,896 $427,212 $424,837 Loans and leases held for investment $24,245,893 $24,126,527 $23,781,663 $23,527,777 $23,228,909 ACL to loans and leases held for investment(3) 1.07% 1.10% 1.13% 1.20% 1.19% Economic coverage ratio(4) 1.61% 1.66% 1.72% 1.82% 1.83% Economic coverage ratio

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. Second Quarter 2025 Earnings | 41 ($ in thousands) 2Q25 Allowance for credit losses ("ACL") $258,565 Less: ACL on lower loss loan categories: ACL on warehouse lending loan portfolio (3,321) ACL on equity fund loan portfolio (465) ACL on lender finance loan portfolio (4,089) ACL on single family residential mortgage loans (2,108) Adjusted ACL for total lower loss loan categories(1) $248,582 $- Loans and leases held for investment $24,245,893 Less: Lower loss loan categories: Warehouse lending loan portfolio (1,610,354) Equity fund loan portfolio (1,194,219) Lender finance loan portfolio (1,190,285) Single family residential mortgage loans (2,960,729) Adjusted loans and leases held for investment(1) $17,290,306 ACL to loans and leases held for investment(2) 1.07% Adjusted ACL excluding SFR loans 1.20% Adjusted ACL excluding SFR and warehouse loans 1.29% Adjusted ACL for total lower loss loan categories to adjusted loans and leases held for investment(3) 1.44% Adjusted ACL for Lower Loss Loan Categories Ratio