Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 23

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 23
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. The increase in warrant income was driven by higher gains from warrant exercises.

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024

Noninterest income increased by $2.7 million to $66.3 million for the six months ended June 30, 2025 from $63.6 million for the six months ended June 30, 2024 due mainly to increases of $4.0 million in other income and $2.8 million in commissions and fees, offset partially by decreases of $2.2 million in leased equipment income and $2.0 million in dividends and gains on equity investments. The increase in other income was due mainly to a $2.6 million increase in the fair value mark on the credit-linked notes and a $1.1 million increase in gain on termination of leases. The increase in commissions and fees was due principally to higher loan-related fee income and higher customer service fees. The decrease in dividends and gains on equity investments was due mostly to lower fair value net gains in the first half of 2025 on SBIC investments compared to the same period in 2024.

87

Noninterest Expense

The following table summarizes noninterest expense by category for the periods indicated:

Three Months EndedSix Months EndedJune 30,March 31,June 30,Noninterest Expense2025202520252024(In thousands)Compensation$88,362 $86,417 $174,779 $178,150 Customer related expense26,577 27,751 54,328 63,324 Occupancy15,473 15,010 30,483 35,423 Information technology and data processing13,073 15,099 28,172 30,877 Insurance and assessments9,403 7,283 16,686 46,892 Intangible asset amortization7,159 7,160 14,319 16,888 Leased equipment depreciation6,700 6,741 13,441 15,031 Other professional services6,406 4,513 10,919 10,258 Loan expense4,050 2,930 6,980 8,823 Other8,666 10,749 19,415 21,145 Total operating expense185,869 183,653 369,522 426,811 Acquisition, integration and reorganization costs— —