Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 124

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 124
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 of the instruments.The following table summarizes activity for our Level 3 corporate debt securities available-for-sale, equity warrants, and credit-linked notes measured at fair value on a recurring basis for the period indicated: Corporate Equity Credit-Linked Debt SecuritiesWarrantsNotes(In thousands)Balance, December 31, 2024$2,130 $3,763 $118,838 Total included in earnings— 932 155 Total included in other comprehensive income 120 — 371 Issuances— 187 — Principal payments— — (2,184)Exercises and settlements — (1,311)— Balance, June 30, 2025$2,250 $3,571 $117,180 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end$(750)The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated: Fair Value Measurement as ofJune 30, 2025Measured on a Non-Recurring BasisTotalLevel 1Level 2Level 3(In thousands)Individually evaluated loans and leases $14,640 $— $9,813 $4,827 OREO2,191 — 2,191 — Total non-recurring$16,831 $— $12,004 $4,827 Fair Value Measurement as ofDecember 31, 2024Measured on a Non-Recurring BasisTotalLevel 1Level 2Level 3(In thousands)Individually evaluated loans and leases $58,948 $— $45,962 $12,986 OREO3,372 — 3,372 — Total non-recurring$62,320 $— $49,334 $12,986 

59

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

In addition to individually evaluated loans and leases and OREO, loans held for sale are carried at the lower of cost or market and may be measured at fair value on a nonrecurring basis when fair value is less than cost. Fair value is based on active bids and other observable market inputs, such as appraised value of the underlying collaterals, adjusted for specific attributes of that loan or other available market data for similar loans. Loans held for