Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 103

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 103
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474 9,734 Equity warrants 3,497 3,763 Other receivables/assets47,237 51,231 Total other assets$896,421 $913,954 ____________________(1)    See Note 7. Leases for further details regarding the operating lease ROU assets.

NOTE 7.  LEASES

Operating Leases as a LesseeOur lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings. The following table presents the components of lease expense for the periods indicated:Three Months EndedMarch 31,20252024(In thousands)Operating lease expense:Fixed costs$6,969 $9,435 Variable costs112 48 Short-term lease costs235 66 Sublease income(1,132)(1,196)Net lease expense$6,184 $8,353 The following table presents supplemental cash flow information related to leases for the periods indicated:Three Months EndedMarch 31,20252024(In thousands)Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows from operating leases$8,323 $7,746 ROU assets obtained in exchange for lease obligations:Operating leases$3,942 $1,183 

40

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

The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:March 31,December 31,20252024(Dollars in thousands)Operating leases:Operating lease right-of-use assets, net$97,716 $100,092 Operating lease liabilities$120,090 $124,355 Weighted average remaining lease term (in years)5.95.9Weighted average discount rate3.59 %3.53 %The following table presents the maturities of operating lease liabilities as of the date indicated: March 31, 2025(In thousands)Period ending December 31, 2025$23,450 202628,000 202721,490 202817,454 202913,207 Thereafter30,403 Total operating lease liabilities134,004 Less: Imputed interest(13,914)Present value of operating lease liabilities$120,090 Operating Leases as a Lessor     We provide equipment financing to our customers through