Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 145

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 145
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,702 Consumer16 — — 16 Total$13,396 $305 $159 $13,860 The following tables present information on loans that defaulted during the years indicated, which had been modifiedduring the preceding 12-month period, with related amortized cost balances as of the date indicated:Year Ended December 31, 2024Loan Modifications That Subsequently DefaultedAmortized Cost Basis at December 31, 2024Combination Term Term ExtensionExtension and Payment DelayTotal(In thousands)Real estate mortgage:Commercial$9,671 $13,899 $23,570 Other residential3,539 — 3,539 Total$13,210 $13,899 $27,109 

157

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

Year Ended December 31, 2023Loan Modifications That Subsequently DefaultedAmortized Cost Basis at December 31, 2023TermExtensionTotal(In thousands)Real estate mortgage:Other residential$735 $735 Leases ReceivableWe provide equipment financing to our customers primarily with operating and direct financing leases. For direct financing leases, lease receivables are recorded on the balance sheet, but the leased equipment is not, although we generally retain legal title to the leased equipment until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Direct financing leases are subject to our accounting for allowance for loan and lease losses. See Note 9. Leases for information regarding operating leases where we are the lessor. The following table provides the components of leases receivable income for the period indicated:Year Ended December 31, 202420232022(In thousands)Component of leases receivable income:Interest income on net investments in leases$18,714 $16,671 $10,813 The following table presents the components of leases receivable as of the date indicated:December 31,20242023(In thousands)Net Investment in Direct Financing Leases:Lease payments receivable$202,815 $249,223 Unguaranteed residual assets22,489 25,488 Deferred costs and