Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 116

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 116
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6-4 16,470 9.45 %16,470 9.95 %12/05/200601/30/2037Prime + 1.95Trust CS 2006-5 6,650 6.52 %6,650 6.80 %12/19/200601/30/20373-month Term SOFR + 1.95Trust CS 2007-239,177 6.52 %39,177 6.80 %06/13/200707/30/20373-month Term SOFR + 1.95PMB Statutory Trust III7,217 7.66 %7,217 7.99 %09/16/200209/26/20323-month Term SOFR + 3.40PMB Capital Trust III10,310 6.59 %10,310 6.89 %10/04/200410/08/20343-month Term SOFR + 2.00Total subordinated debt1,016,156 5.28 %1,012,187 5.48 %Acquisition discount (7)(65,268)(70,264)Total subordinated debt, net$950,888 $941,923 ___________________(1)    Rates do not include the effects of discounts and issuance costs.(2)    Net of unamortized issuance costs of $3.4 million at September 30, 2025 and $3.8 million at December 31, 2024.(3)    Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly equal to 3-month Term SOFR, plus a spread of 252 basis points.(4)    Subordinated notes, net, issued at the Bank level rather than the holding company level.(5)    Interest rate was fixed until October 30, 2025, when it changed to a floating rate equal to 3-month Term SOFR, plus a spread of 419.5 basis points.(6)    Denomination is in Euros with a value of €25.8 million.(7)    Amount represents the fair value adjustment on subordinated debt assumed in acquisitions.

54

BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

NOTE