Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 447

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 447
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(In thousands)Balance, December 31, 2022$1,376,736 Impairment (1,376,736)Addition from the Merger with PacWest Bancorp198,627 Balance, December 31, 2023$198,627 Purchase accounting adjustments - Merger with PacWest Bancorp15,894 Balance, December 31, 2024$214,521 

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BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Consolidated Financial Statements

Our other intangible assets with definite lives are CDI and CRI. CDI and CRI are amortized on an accelerated basis over their respective estimated useful lives and reviewed for impairment at least quarterly. The amortization expense represents the estimated decline in the value of the underlying deposits or customer relationships acquired. The following table presents the changes in CDI and CRI and the related accumulated amortization for the years indicated: Year Ended December 31, 202420232022 (In thousands)Gross Amount of CDI and CRI:   Balance, beginning of year$236,264 $91,550 $133,850 Addition from the PacWest Bancorp merger— 145,464 — Fully amortized portion(57,500)(750)(42,300)Balance, end of year178,764 236,264 91,550 Accumulated Amortization:Balance, beginning of year(70,787)(60,169)(88,893)Amortization expense(32,533)(11,368)(13,576)Fully amortized portion57,500 750 42,300 Balance, end of year(45,820)(70,787)(60,169)Net CDI and CRI, end of year$132,944 $165,477 $31,381 There was no impairment of CDI and CRI for the years ended December 31, 2024, 2023, and 2022.The following table presents the estimated aggregate future amortization expense for our current CDI and CRI as of the date indicated: December 31, 2024(In thousands)Year Ending December 31, 2025$27,657 202624,412 202721,166 202817,920 202914,675 Thereafter27,114 Net CDI and CRI$132,944 

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