Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 350

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 350
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 to 3.40%, while the margin on the 3-month EURIBOR debenture is 2.05%. On July 1, 2023, interest rates transitioned from LIBOR to Term SOFR or Prime plus the relevant spread amount as the applicable benchmark upon the cessation of LIBOR on June 30, 2023. The subordinated debt is all long-term, with maturities ranging from October 2030 to July 2037.

95

Credit Quality

     Nonperforming Assets, Classified Loans and Leases, and Special Mention Loans and Leases 

The following table presents information on our nonperforming assets, classified loans and leases, and special mention loans and leases as of the dates indicated:

December 31, 202420232022(Dollars in thousands)Nonaccrual loans and leases held for investment $189,605 $62,527 $103,778 Accruing loans contractually past due 90 days or more— 11,750 — Total nonperforming loans and leases189,605 74,277 103,778 Foreclosed assets, net9,734 7,394 5,022 Total nonperforming assets$199,339 $81,671 $108,800 Classified loans and leases held for investment $563,502 $228,417 $118,271 Special mention loans and leases held for investment$1,097,315 $513,312 $566,259 Nonaccrual loans and leases held for investment toloans and leases held for investment 0.80 %0.29 %0.36 %Nonperforming assets to loans and leases held for investment and foreclosed assets, net 0.84 %0.32 %0.38 %Allowance for credit losses to nonaccrual loans and leases held for investment141.57 %497.80 %281.18 %Classified loans and leases held for investment toloans and leases held for investment 2.37 %0.90 %0.41 %Special mention loans and leases held for investment toloans and leases held for investment4.61 %2.01 %1.98 %

Nonaccrual Loans and Leases Held for Investment

During 2024, nonperforming loans and leases held for investment increased by $115.3 million to $