Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 47

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 47
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.07%. The ratio decrease was primarily due to an improvement in the economic forecast and a shorter remaining life of the portfolio.

The allowance for loan and lease losses attributable to commercial loans and leases was $67.8 million and $45.2 million at December 31, 2024 and 2023. As ratios to commercial loans and leases at those dates, these percentages were 1.00% and 0.78%. The ratio increase was due to a higher allowance for loan losses as a result of risk rating migration activity resulting in higher classified loans and net charge-off activity that increased the loss given default rate for certain loan portfolio classes in this loan segment. 

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Deposits

    The following table presents a summary of our average deposit amounts and average rates paid during the years indicated:

Year Ended December 31,202420232022WeightedWeightedWeightedAverageAverageAverageAverageAverageAverageDeposit CompositionBalanceRateBalanceRateBalanceRate(Dollars in thousands)Interest checking $7,714,920 3.12 %$6,992,888 3.16 %$6,851,831 0.97 %Money market 5,164,566 2.68 %6,724,296 2.83 %10,601,028 0.90 %Savings 2,005,513 3.31 %1,051,117 2.95 %639,720 0.03 %Time 5,714,821 4.73 %6,840,920 4.48 %2,540,426 1.51 %Total interest-bearing deposits20,599,820 3.48 %21,609,221 3.46 %20,633,005 0.97 %Noninterest-bearing checking7,829,976 — 7,072,334 — 13,601,766 — Total deposits$28,429,796 2.52 %$28,681,555 2.61 %$34,234,771 0.59 %

The following table presents the composition of our deposit portfolio by account type as of the dates indicated:

December 31,202420232022% of% of% ofDeposit CompositionBalanceTotalBalanceTotalBalanceTotal(Dollars in thousands)Noninterest-bearing checking$7,719,913 28 %$7,774,254