LOS ANGELES (AP) — LOS ANGELES (AP) — Banc of California Inc. (BANC) on Thursday reported fourth-quarter net income of $56.9 million, after reporting a loss in the same period a year earlier.

The bank, based in Los Angeles, said it had earnings of 28 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The banking service and lending company posted revenue of $453.5 million in the period. Its revenue net of interest expense was $264.3 million, which missed Street forecasts. Four analysts surveyed by Zacks expected $273.1 million.

For the year, the company reported net income of $126.9 million, or 52 cents per share, swinging to a profit in the period. Revenue was reported as $1.06 billion.

Banc of California shares have increased nearly 4% since the beginning of the year. The stock has risen 22% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BANC at https://www.zacks.com/ap/BANC