Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 123

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 123
---
 information regarding derivative instruments, see Note 9. Derivatives.

59

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

Fair Value Measurements as ofDecember 31, 2024Measured on a Recurring BasisTotalLevel 1Level 2Level 3(In thousands)Securities available-for-sale:Agency residential MBS$861,840 $— $861,840 $— Agency commercial MBS51,564 — 51,564 — Agency residential CMOs446,631 — 446,631 — Municipal securities594 — 594 — Corporate debt securities257,712 — 255,582 2,130 Private label residential CMOs316,910 — 316,910 — Collateralized loan obligations279,416 — 279,416 — Private label commercial MBS12,372 — 12,372 — Asset-backed securities15,600 — 15,600 — SBA securities4,200 — 4,200 — Total securities available-for-sale$2,246,839 $— $2,244,709 $2,130 Equity investments with readily determinable fair values$3 $3 $— $— Derivatives (1):Derivative assetsCash flow hedges1,442 — 1,442 — Interest rate and foreign exchange contracts7,031 — 7,031 — Equity warrants 3,763 — — 3,763 Derivative liabilitiesInterest rate and foreign exchange contracts7,562 — 7,562 — Credit-linked notes118,838 — — 118,838 ____________________(1)    For information regarding derivative instruments, see Note 9. Derivatives.During the nine months ended September 30, 2025, there was a $2,000 transfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. There was no transfer of AFS corporate debt securities from Level 3 to Level 2 during the nine months ended September 30, 2025 and no transfer of AFS corporate debt securities from Level 2 to Level 3 during the same period. The following table presents