Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 78

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 78
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 and HTM investment securities for the periods indicated: Three Months EndedMarch 31,20252024(In thousands)Taxable interest$31,447 $27,601 Non-taxable interest4,517 4,720 Dividend income1,898 1,982 Total interest income on investment securities$37,862 $34,303 

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

NOTE 4.  LOANS AND LEASES

Our loans are carried at the principal amount outstanding, net of deferred fees and costs, and in the case of acquired and purchased loans, net of purchase discounts and premiums. Deferred fees and costs and purchase discounts and premiums on acquired loans are recognized as an adjustment to interest income over the contractual life of the loans primarily using the effective interest method or taken into income when the related loans are paid off or included in the carrying amount of loans that are sold. Loans and Leases Held for InvestmentThe following table summarizes the composition of our loans and leases held for investment as of the dates indicated:March 31,December 31,20252024(In thousands)Real estate mortgage$13,655,592 $13,605,595 Real estate construction and land (1)2,873,608 3,187,146 Commercial7,392,651 6,788,923 Consumer392,953 402,254 Total gross loans and leases held for investment24,314,804 23,983,918 Unearned discounts, net (2)(157,921)(175,713)Deferred fees, net(30,356)(26,542)Total loans and leases held for investment24,126,527 23,781,663 Allowance for loan and lease losses(234,986)(239,360)Total loans and leases held for investment, net (3)$23,891,541 $23,542,303 ____________________(1)    Includes land and acquisition and development loans of $221.4 million and $223.9 million at March 31, 2025 and December 31, 2024.(2)    Represents net acquisition discounts of $217.1 million and purchase premiums of $59.2 million at March 31, 2025, and net acquisition discounts of $235.2 million and purchase premiums of $59.5