Banc of California, Inc. (NYSE:BANC) Q3 2019 Earnings Conference Call October 23, 2019 1:00 PM ET
Company Participants
Jared Wolff - President & Chief Executive Officer
John Bogler - Executive Vice President & Chief Financial Officer
Conference Call Participants
Matthew Clark - Piper Jaffray.
Jackie Bohlen - KBW
Andrew Liesch - Sandler O'Neill
Gary Tenner - D.A. Davidson
Timur Braziler - Wells Fargo Securities
Tim Coffey - Janney
Steve Moss - B. Riley FBR
Operator
Hello and welcome to Banc of California's Third Quarter Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Today's call is being recorded and a copy of the recording will be available later today on the company's Investor Relations' website.
Today's presentation will also include non-GAAP measures, the reconciliation of which and additional required information is available in the earnings press release. The reference presentation is available on the company's Investor Relations website.
Before we begin, we would like to direct everyone toward the company's Safe Harbor statement on forward-looking statements included in both the earnings release and the earnings presentation.
I would now like to turn the conference over to Mr. Jared Wolff, Banc of California's President and Chief Executive Officer.
Jared Wolff
Good morning everyone. Welcome to Banc of California's third quarter 2019 earnings conference call. With me today is Banc of California's CFO, John Bogler, who will talk in more detail about our quarterly results shortly.
We finished the quarter with a net loss to common stockholders of $22.7 million and a diluted loss per common share of $0.45. As you know the main reason for the quarterly net loss is we incurred a charge-off related to a $35 million line of credit originated by the bank in November of 2017 to a borrower purportedly the subject of a fraudulent scheme. The effects of
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