Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 110

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 110
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 condensed consolidated statements of earnings. The following table presents the components of lease expense for the periods indicated:Three Months EndedSix Months EndedJune 30,June 30,2025202420252024(In thousands)Operating lease expense:Fixed costs$7,327 $8,927 $14,296 $18,362 Variable costs124 100 236 148 Short-term lease costs210 74 445 140 Sublease income(1,156)(1,321)(2,288)(2,517)Net lease expense$6,505 $7,780 $12,689 $16,133 The following table presents supplemental cash flow information related to leases for the periods indicated:Six Months EndedJune 30,20252024(In thousands)Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows from operating leases$16,273 $16,926 ROU assets obtained in exchange for lease obligations:Operating leases$18,671 $2,527 

48

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:June 30,December 31,20252024(Dollars in thousands)Operating leases:Operating lease right-of-use assets, net$105,506 $100,092 Operating lease liabilities$128,340 $124,355 Weighted average remaining lease term (in years)5.95.9Weighted average discount rate3.66 %3.53 %The following table presents the maturities of operating lease liabilities as of the date indicated: June 30, 2025(In thousands)Period ending December 31, 2025$15,668 202630,880 202724,426 202820,247 202916,036 Thereafter36,527 Total operating lease liabilities143,784 Less: Imputed interest(15,444)Present value of operating lease liabilities$128,340 Operating Leases as a Lessor     We provide equipment financing to our customers through operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on the condensed consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as