Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 43

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 43
---
1,230,577 282,442 1,513,019 Total due within 12 months2,997,329 1,042,000 4,039,329 Due in over 12 months through 24 months663,567 84,603 748,170 Due in over 24 months6,325 11,055 17,380 Total due over twelve months669,892 95,658 765,550 Total $3,667,221 $1,137,658 $4,804,879 

Client Investment Funds

In addition to deposit products, we also offer alternative, non-depository corporate treasury solutions for clients to invest excess liquidity. These off-balance sheet client funds totaled $1.5 billion at both June 30, 2025 and December 31, 2024.

Borrowings

The following table summarizes our borrowings as of the dates indicated:

June 30, 2025December 31, 2024WeightedWeightedAverageAverageBalanceRateBalanceRate(Dollars in thousands)FHLB secured advances$1,700,000 3.98 %$1,100,000 3.93 %Credit-linked notes117,180 15.07 %118,838 15.29 %AFX short-term borrowings100,000 4.46 %— — %Senior Notes— — %174,000 5.25 %Total borrowings1,917,180 4.68 %1,392,838 5.06 %Acquisition discount on Senior Notes— (1,024)Total borrowings, net$1,917,180 $1,391,814 

Borrowings increased by $525.4 million to $1.9 billion at June 30, 2025 compared to $1.4 billion at December 31, 2024 due to higher FHLB secured advances and AFX short-term borrowings, offset partially by the payoff of $174.0 million of Senior Notes in the second quarter of 2025. We utilized these borrowings to manage liquidity needs, including, but not limited to, funding asset growth, accommodating liability maturities and deposit withdrawals, and supporting business operations.

Subordinated Debt

As of June 30, 2025, the carrying value of subordinated debt totaled $949.2 million