Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 121

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 121
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 the consolidated balance sheets.

139

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

 December 31, 2023AllowanceforNetGrossGrossAmortizedCreditCarryingUnrealizedUnrealizedFairSecurity TypeCostLossesAmountGainsLossesValue (In thousands)Municipal securities $1,247,310 $(140)$1,247,170 $1,760 $(28,170)$1,220,760 Agency commercial MBS433,827 — 433,827 — (30,665)403,162 Private label commercial MBS350,493 — 350,493 — (29,289)321,204 U.S. Treasury securities187,033 — 187,033 — (11,454)175,579 Corporate debt securities70,128 (1,360)68,768 — (21,157)47,611 Total (1)$2,288,791 $(1,500)$2,287,291 $1,760 $(120,735)$2,168,316 __________________________(1)    Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the consolidated balance sheets.As of December 31, 2024, HTM securities with an amortized cost of $2.2 billion and a fair value of $2.1 billion were pledged as collateral primarily for the FRB secured line of credit and public deposits.Allowance for Credit Losses on Securities Held-to-MaturityThe following tables present the changes by major security type in our allowance for credit losses on HTM securities for the years indicated:Year Ended December 31, 2024Allowance forProvision Allowance forCredit Losses,for Credit Losses, Beginning Credit End ofSecurity Typeof PeriodLossesCharge-offsRecoveriesPeriod(In thousands)Municipal securities$140 $— $— $— $140 Corporate debt securities1,360 — — — 1,360 Total$1,500 $— $— $— $1,500 Year Ended December 31, 2023Allowance forProvisionAllowance forCredit Losses,forCredit Losses,BeginningCreditEnd ofSecurity Type