Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 415

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 415
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187,609 $(201,192)$1,187,609 $(201,192)Agency commercial MBS— — 253,306 (15,333)253,306 (15,333)Agency residential CMOs— — 284,334 (36,650)284,334 (36,650)Municipal securities— — 28,083 (1,109)28,083 (1,109)Corporate debt securities— — 265,431 (60,254)265,431 (60,254)Private label residential CMOs— — 158,412 (34,659)158,412 (34,659)Collateralized loan obligations— — 66,886 (752)66,886 (752)Private label commercial MBS— — 20,813 (1,313)20,813 (1,313)Asset-backed securities— — 19,952 (289)19,952 (289)SBA securities— — 13,739 (903)13,739 (903)Total$— $— $2,298,565 $(352,454)$2,298,565 $(352,454)The securities that were in an unrealized loss position at December 31, 2024, were considered impaired and required further review to determine if the unrealized losses were credit-related. We concluded their unrealized losses were a result of the level of market interest rates relative to the types of securities and pricing changes caused by shifting supply and demand dynamics and not a result of downgraded credit ratings or other indicators of deterioration of the underlying issuers' ability to repay. We also considered the seniority of the tranches and U.S. government agency guarantees, if any, to assess whether an unrealized loss was credit-related. Accordingly, we determined the unrealized losses were not credit-related and recognized the unrealized losses in "Accumulated other comprehensive loss, net" of "Stockholders' equity" on the consolidated balance sheets. Contractual Maturities of Securities Available-for-SaleThe following tables present the contractual maturities of our AFS securities portfolio based on amortized cost and fair value as of the date indicated:December 31, 2024Due AfterDue AfterDue One Year Five YearsDue WithinThroughThroughAfterSecurity TypeOne YearFive YearsTen YearsTen Years