Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 43

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 43
---
 1,475,489 Total due within 12 months2,893,289 1,057,753 3,951,042 Due in over 12 months through 24 months671,181 91,808 762,989 Due in over 24 months6,202 6,287 12,489 Total due over twelve months677,383 98,095 775,478 Total $3,570,672 $1,155,848 $4,726,520 

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 $1.1 billion at September 30, 2025 and 1.5 billion at December 31, 2024.

Borrowings

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

September 30, 2025December 31, 2024WeightedWeightedAverageAverageBalanceRateBalanceRate(Dollars in thousands)FHLB secured advances$1,700,000 3.96 %$1,100,000 3.93 %Other short-term borrowings190,000 4.18 %— — %Credit-linked notes115,022 15.09 %118,838 15.29 %Senior Notes— — %174,000 5.25 %Total borrowings2,005,022 4.62 %1,392,838 5.06 %Acquisition discount on Senior Notes— (1,024)Total borrowings, net$2,005,022 $1,391,814 

Borrowings increased by $613.2 million to $2.0 billion at September 30, 2025 compared to $1.4 billion at December 31, 2024, due to higher FHLB secured advances and other 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

Subordinated debt increased by $9.0 million to $950.9 million at September 30, 2025 compared to $