Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 499

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 499
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, including interest rates and collateral, as those of comparable transactions with non-insiders prevailing at the time, in accordance with the Bank's underwriting guidelines, and do not involve more than the normal risk of collectability or present other unfavorable features. As of December 31, 2024, no related party loans were categorized as nonaccrual, past due, restructured, or potential problem loans.Transactions with Related PartiesThe Company and the Bank have engaged in the transaction described below with the Company's current directors, executive officers, and beneficial owners of more than five percent of the outstanding shares of the Company's voting common stock and certain persons related to them.The Company is a party to a services agreement with IntraFi Network LLC (“IntraFi”) whereby IntraFi provides the Bank with certain insured cash sweep services from time to time. Affiliates of funds managed by Warburg Pincus LLC hold a material investment interest in IntraFi. Additionally, one of Warburg Pincus LLC’s principals, Todd Schell, who currently serves as a member of the Board, is a member of the board of directors of IntraFi. Affiliates of funds managed by Warburg Pincus LLC beneficially owned approximately 9.8% of the Company’s outstanding voting common stock as of December 31, 2024, based on information reported on a Schedule 13D/A filed with the SEC on August 1, 2024. For the years ended December 31, 2024, 2023 and 2022, the amount paid to IntraFi for certain insured cash sweep services was $8.0 million, $9.2 million, and $4.7 million, respectively.

NOTE 26. SUBSEQUENT EVENTS       Common Stock DividendOn February 7, 2025, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.10 per common share. The cash dividend is payable on April 1, 2025, to stockholders of record at the close of business on March 14, 2025.Preferred Stock DividendOn February 7, 2025, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.4845 per Depositary Share. The cash dividend is payable on March 3, 2025 to stockholders of record at the close of business on February 19, 2025.  We have evaluated events that have occurred subsequent